Privia Health Group (NASDAQ:PRVA) Shares Gap Down Following Insider Selling

Privia Health Group, Inc. (NASDAQ:PRVAGet Rating) shares gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $37.01, but opened at $36.10. Privia Health Group shares last traded at $35.06, with a volume of 2,008 shares.

Specifically, EVP Thomas Bartrum sold 14,952 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $30.72, for a total value of $459,325.44. Following the completion of the sale, the executive vice president now directly owns 91,355 shares of the company’s stock, valued at approximately $2,806,425.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Matthew Shawn Morris sold 68,102 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $42.20, for a total value of $2,873,904.40. Following the completion of the sale, the chief executive officer now directly owns 121,739 shares of the company’s stock, valued at approximately $5,137,385.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas Bartrum sold 14,952 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $30.72, for a total value of $459,325.44. Following the completion of the sale, the executive vice president now directly owns 91,355 shares of the company’s stock, valued at $2,806,425.60. The disclosure for this sale can be found here. In the last three months, insiders sold 653,036 shares of company stock valued at $23,135,660. 57.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRVA. Canaccord Genuity Group upped their price objective on Privia Health Group from $45.00 to $50.00 in a research note on Thursday, August 25th. BTIG Research upped their price objective on Privia Health Group to $45.00 in a research note on Monday, August 15th. Cowen upped their price objective on Privia Health Group from $35.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 12th. Cowen upped their price objective on Privia Health Group from $35.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 12th. Finally, Guggenheim increased their price target on Privia Health Group from $36.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $44.58.

Privia Health Group Stock Down 6.3 %

The company has a market capitalization of $3.86 billion, a P/E ratio of -75.35 and a beta of 1.06. The company has a 50-day moving average of $38.19 and a two-hundred day moving average of $30.24.

Privia Health Group (NASDAQ:PRVAGet Rating) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). The company had revenue of $335.54 million for the quarter, compared to analysts’ expectations of $312.04 million. Privia Health Group had a negative net margin of 4.17% and a negative return on equity of 9.44%. As a group, equities analysts expect that Privia Health Group, Inc. will post -0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake in Privia Health Group by 5.1% during the second quarter. Legal & General Group Plc now owns 23,144 shares of the company’s stock valued at $674,000 after buying an additional 1,129 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of Privia Health Group in the second quarter worth $546,000. Advisory Research Inc. purchased a new position in shares of Privia Health Group in the second quarter worth $2,540,000. First Republic Investment Management Inc. purchased a new position in shares of Privia Health Group in the second quarter worth $621,000. Finally, Jane Street Group LLC purchased a new position in shares of Privia Health Group in the second quarter worth $1,075,000. Hedge funds and other institutional investors own 62.81% of the company’s stock.

About Privia Health Group

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Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.

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