Privia Health Group (NASDAQ:PRVA) Director Matthew Shawn Morris Sells 63,212 Shares of Stock

Privia Health Group, Inc. (NASDAQ:PRVA) Director Matthew Shawn Morris sold 63,212 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $25.33, for a total transaction of $1,601,159.96. Following the transaction, the director directly owned 76,651 shares in the company, valued at approximately $1,941,569.83. This trade represents a 45.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, June 26th, Matthew Shawn Morris sold 88,110 shares of Privia Health Group stock. The shares were sold at an average price of $25.33, for a total transaction of $2,231,826.30.
• On Friday, May 1st, Matthew Shawn Morris sold 17,096 shares of Privia Health Group stock. The shares were 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 stock was sold at an average price of $24.96, for a total value of $25,384.32.

Privia Health Group Stock Up 0.7%

Shares of NASDAQ:PRVA opened at $25.73 on Wednesday. The business’s 50 day moving average is $23.25 and its 200 day moving average is $22.96. The stock has a market cap of $3.24 billion, a P/E ratio of 160.82, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90. 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 issued its earnings results on Thursday, May 7th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.11. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.The business had revenue of $603.85 million during the quarter, compared to analyst estimates of $560.99 million. During the same period in the previous year, the company posted $0.22 EPS. Privia Health Group’s revenue was up 25.8% on a year-over-year basis. On average, sell-side analysts anticipate that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.

Institutional Trading of Privia Health Group

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PRVA shares. Barclays lowered their price objective on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 26th. Citigroup cut their target price 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. Evercore set a $26.00 price target on shares of Privia Health Group in a 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 research report on Friday, May 8th. Finally, Canaccord Genuity Group dropped their price objective on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.15.

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.