Privia Health Group (NASDAQ:PRVA) Stock Price Down 6.3% – Here’s Why

Privia Health Group, Inc. (NASDAQ:PRVA)’s stock price traded down 6.3% during trading on Tuesday . The company traded as low as $22.39 and last traded at $22.5740. 241,484 shares were traded during trading, a decline of 61% from the average session volume of 624,117 shares. The stock had previously closed at $24.10.

Analyst Ratings Changes

A number of research analysts have issued reports on PRVA shares. Weiss Ratings restated a “hold (c)” rating on shares of Privia Health Group in a research report on Monday, December 29th. Evercore ISI raised their price objective on Privia Health Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Truist Financial reiterated a “buy” rating and set a $31.00 target price (up from $30.00) on shares of Privia Health Group in a research report on Monday, November 10th. Citigroup reissued a “market outperform” rating on shares of Privia Health Group in a report on Tuesday, January 6th. Finally, Canaccord Genuity Group boosted their price target on Privia Health Group from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Privia Health Group Trading Up 0.4%

The firm has a 50-day moving average of $23.84 and a two-hundred day moving average of $23.12. The firm has a market capitalization of $2.81 billion, a P/E ratio of 175.94, a P/E/G ratio of 1.60 and a beta of 0.83.

Privia Health Group (NASDAQ:PRVA) last issued its earnings results on Thursday, November 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.06 by $0.23. Privia Health Group had a return on equity of 2.52% and a net margin of 0.89%.The firm had revenue of $580.42 million during the quarter, compared to the consensus estimate of $494.98 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The business’s quarterly revenue was up 32.5% on a year-over-year basis. On average, sell-side analysts anticipate that Privia Health Group, Inc. will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO David Mountcastle sold 23,887 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $25.03, for a total transaction of $597,891.61. Following the sale, the chief financial officer owned 172,909 shares of the company’s stock, valued at $4,327,912.27. This trade represents a 12.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew Shawn Morris sold 13,647 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $25.01, for a total value of $341,311.47. Following the sale, the director owned 68,188 shares in the company, valued at $1,705,381.88. This represents a 16.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Privia Health Group by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock valued at $301,263,000 after acquiring an additional 607,447 shares during the period. Durable Capital Partners LP grew its stake in shares of Privia Health Group by 1.8% in the third quarter. Durable Capital Partners LP now owns 11,691,685 shares of the company’s stock worth $291,123,000 after purchasing an additional 203,842 shares during the last quarter. State Street Corp increased its holdings in Privia Health Group by 1.5% in the second quarter. State Street Corp now owns 4,171,069 shares of the company’s stock valued at $95,935,000 after purchasing an additional 61,853 shares during the period. Van Berkom & Associates Inc. raised its position in Privia Health Group by 30.1% during the 3rd quarter. Van Berkom & Associates Inc. now owns 3,774,565 shares of the company’s stock worth $93,987,000 after purchasing an additional 873,344 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Privia Health Group by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,655,569 shares of the company’s stock worth $61,086,000 after buying an additional 158,521 shares during the period. Institutional investors own 94.48% of the company’s stock.

About Privia Health Group

Privia Health Group (NASDAQ: PRVA) is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.

Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.