Insider Selling: Privia Health Group (NASDAQ:PRVA) CEO Sells $2,377,649.45 in Stock

Privia Health Group, Inc. (NASDAQ:PRVA) CEO Parth Mehrotra sold 105,439 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $22.55, for a total transaction of $2,377,649.45. Following the completion of the sale, the chief executive officer owned 450,004 shares in the company, valued at $10,147,590.20. This represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Parth Mehrotra also recently made the following trade(s):

• On Tuesday, May 12th, Parth Mehrotra sold 15,647 shares of Privia Health Group stock. The stock was sold at an average price of $22.64, for a total transaction of $354,248.08.
• On Monday, March 16th, Parth Mehrotra sold 26,509 shares of Privia Health Group stock. The stock was sold at an average price of $22.11, for a total transaction of $586,113.99.
• On Friday, March 13th, Parth Mehrotra sold 27,229 shares of Privia Health Group stock. The stock was sold at an average price of $21.52, for a total transaction of $585,968.08.
• On Thursday, March 12th, Parth Mehrotra sold 26,763 shares of Privia Health Group stock. The stock was sold at an average price of $21.90, for a total transaction of $586,109.70.
• On Tuesday, March 10th, Parth Mehrotra sold 21,097 shares of Privia Health Group stock. The stock was sold at an average price of $22.71, for a total transaction of $479,112.87.
• On Monday, March 9th, Parth Mehrotra sold 41,999 shares of Privia Health Group stock. The stock was sold at an average price of $22.86, for a total transaction of $960,097.14.
• On Friday, March 6th, Parth Mehrotra sold 21,440 shares of Privia Health Group stock. The stock was sold at an average price of $23.15, for a total transaction of $496,336.00.

Privia Health Group Stock Performance

Shares of PRVA stock opened at $22.95 on Friday. The company has a market capitalization of $2.89 billion, a P/E ratio of 143.45, a price-to-earnings-growth ratio of 1.71 and a beta of 0.96. The company’s 50 day moving average price is $22.62 and its two-hundred day moving average price is $23.23. Privia Health Group, Inc. has a 52 week low of $18.77 and a 52 week high of $26.51.

Privia Health Group (NASDAQ:PRVA) last announced its earnings results on Thursday, May 7th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.08 by $0.11. The firm had revenue of $603.85 million for the quarter, compared to the consensus estimate of $560.99 million. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. Analysts forecast that Privia Health Group, Inc. will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PRVA. Canaccord Genuity Group dropped their target price on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Evercore set a $26.00 price objective on shares of Privia Health Group in a research report on Wednesday, April 8th. Weiss Ratings cut shares of Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $36.00 target price on shares of Privia Health Group in a research report on Thursday, February 26th. Finally, Citigroup cut their price target on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Privia Health Group has a consensus rating of “Moderate Buy” and a consensus price target of $31.23.

Hedge Funds Weigh In On Privia Health Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRVA. Bayban bought a new stake in shares of Privia Health Group in the fourth quarter valued at about $26,000. Hantz Financial Services Inc. boosted its position in shares of Privia Health Group by 456.2% in the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after acquiring an additional 926 shares during the period. Global Retirement Partners LLC boosted its position in shares of Privia Health Group by 579.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock valued at $38,000 after acquiring an additional 1,351 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Privia Health Group by 48.0% in the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after acquiring an additional 1,200 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of Privia Health Group in the fourth quarter valued at about $93,000. 94.48% of the stock is owned by institutional investors.

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.