Insider Selling: Privia Health Group (NASDAQ:PRVA) Director Sells $2,231,826.30 in Stock

Privia Health Group, Inc. (NASDAQ:PRVA) Director Matthew Shawn Morris sold 88,110 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.33, for a total value of $2,231,826.30. Following the completion of the transaction, the director directly owned 76,651 shares in the company, valued at $1,941,569.83. This represents a 53.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Matthew Shawn Morris also recently made the following trade(s):

• On Monday, June 29th, Matthew Shawn Morris sold 63,212 shares of Privia Health Group stock. The stock was sold at an average price of $25.33, for a total value of $1,601,159.96.
• On Friday, May 1st, Matthew Shawn Morris sold 17,096 shares of Privia Health Group stock. The stock was sold at an average price of $24.99, for a total value of $427,229.04.
• On Monday, May 4th, Matthew Shawn Morris sold 1,017 shares of Privia Health Group stock. The shares were sold at an average price of $24.96, for a total value of $25,384.32.

Privia Health Group Trading Up 1.8%

Shares of NASDAQ:PRVA opened at $27.36 on Friday. Privia Health Group, Inc. has a twelve month low of $18.77 and a twelve month high of $27.52. The company’s 50 day moving average is $23.38 and its 200 day moving average is $22.99. The company has a market cap of $3.45 billion, a PE ratio of 171.01, a price-to-earnings-growth ratio of 2.13 and a beta of 0.83.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. The company had revenue of $603.85 million during the quarter, compared to analyst estimates of $560.99 million. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. Privia Health Group’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the firm posted $0.22 EPS. Equities research analysts predict that Privia Health Group, Inc. will post 0.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on PRVA. Canaccord Genuity Group cut their price objective on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating for the company in a report on Friday, May 8th. Weiss Ratings lowered shares of Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Barclays dropped their target price on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th. Finally, Evercore set a $26.00 price target on Privia Health Group in a research note on Wednesday, April 8th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Privia Health Group has an average rating of “Moderate Buy” and a consensus price target of $31.15.

Institutional Investors Weigh In On Privia Health Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRVA. Royal Bank of Canada grew its position in shares of Privia Health Group by 63.5% in the first quarter. Royal Bank of Canada now owns 245,633 shares of the company’s stock valued at $5,514,000 after purchasing an additional 95,371 shares during the period. AQR Capital Management LLC increased its stake in shares of Privia Health Group by 24.7% during the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $916,000 after purchasing an additional 8,068 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Privia Health Group by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company’s stock worth $2,666,000 after purchasing an additional 3,714 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Privia Health Group by 55.1% during the 1st quarter. Intech Investment Management LLC now owns 56,553 shares of the company’s stock worth $1,270,000 after purchasing an additional 20,082 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Privia Health Group in the 1st quarter valued at about $154,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Privia Health Group Company Profile

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.