Privia Health Group (NASDAQ:PRVA) Reaches New 1-Year High – Time to Buy?

Privia Health Group, Inc. (NASDAQ:PRVA) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $27.95 and last traded at $27.7770, with a volume of 48067 shares traded. The stock had previously closed at $27.49.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Zacks Research downgraded Privia Health Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Evercore set a $26.00 price target on Privia Health Group in a research note on Wednesday, April 8th. Weiss Ratings upgraded Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Canaccord Genuity Group decreased their target price 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. Finally, Barclays cut their price target on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Privia Health Group currently has an average rating of “Moderate Buy” and a consensus price target of $31.15.

Privia Health Group Stock Performance

The business’s 50 day simple moving average is $23.76 and its 200-day simple moving average is $23.14. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 172.64, a price-to-earnings-growth ratio of 2.17 and a beta of 0.83.

Insider Buying and Selling

In other Privia Health Group news, Director Matthew Shawn Morris sold 53,722 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $27.24, for a total value of $1,463,387.28. Following the transaction, the director directly owned 68,188 shares of the company’s stock, valued at $1,857,441.12. This represents a 44.07% decrease in their position. 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. Also, CFO David Mountcastle sold 24,734 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $27.50, for a total value of $680,185.00. Following the sale, the chief financial officer directly owned 186,728 shares of the company’s stock, valued at $5,135,020. This trade represents a 11.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 457,580 shares of company stock worth $11,510,429. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

A number of hedge funds have recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC bought a new stake in Privia Health Group in the third quarter worth approximately $8,750,000. Renaissance Group LLC acquired a new position in shares of Privia Health Group during the 4th quarter worth $7,776,000. Principal Financial Group Inc. raised its holdings in shares of Privia Health Group by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 2,787,802 shares of the company’s stock valued at $66,099,000 after purchasing an additional 43,589 shares in the last quarter. Algert Global LLC raised its holdings in shares of Privia Health Group by 277.4% during the 3rd quarter. Algert Global LLC now owns 484,304 shares of the company’s stock valued at $12,059,000 after purchasing an additional 355,966 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Privia Health Group in the 1st quarter valued at $1,055,000. Institutional investors and hedge funds 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.