Brokerages Set Privia Health Group, Inc. (NASDAQ:PRVA) Target Price at $28.58

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $28.58.

Several research firms recently weighed in on PRVA. JPMorgan Chase & Co. dropped their price objective on shares of Privia Health Group from $38.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 6th. TD Cowen lowered their target price on shares of Privia Health Group from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Jefferies Financial Group began coverage on shares of Privia Health Group in a report on Monday, February 26th. They set a “buy” rating and a $25.00 target price for the company. Bank of America lowered shares of Privia Health Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $27.00 to $21.00 in a report on Thursday, February 22nd. Finally, Truist Financial lowered their target price on shares of Privia Health Group from $32.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, February 29th.

Insider Activity

In other news, Director William M. Sullivan sold 9,951 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $23.03, for a total value of $229,171.53. Following the completion of the transaction, the director now owns 5,464,533 shares of the company’s stock, valued at approximately $125,848,194.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director William M. Sullivan sold 9,951 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $23.03, for a total value of $229,171.53. Following the completion of the transaction, the director now directly owns 5,464,533 shares of the company’s stock, valued at approximately $125,848,194.99. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David Mountcastle sold 3,933 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $17.77, for a total transaction of $69,889.41. Following the completion of the transaction, the chief financial officer now directly owns 262,279 shares of the company’s stock, valued at $4,660,697.83. The disclosure for this sale can be found here. 44.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Privia Health Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRVA. BlackRock Inc. boosted its stake in Privia Health Group by 201.7% in the 2nd quarter. BlackRock Inc. now owns 13,938,867 shares of the company’s stock worth $363,944,000 after purchasing an additional 9,319,052 shares during the period. Point72 Asset Management L.P. acquired a new position in Privia Health Group in the 4th quarter worth $44,811,000. Millennium Management LLC boosted its stake in Privia Health Group by 183.8% in the 4th quarter. Millennium Management LLC now owns 2,996,072 shares of the company’s stock worth $68,041,000 after purchasing an additional 1,940,218 shares during the period. State Street Corp boosted its stake in Privia Health Group by 138.0% in the 2nd quarter. State Street Corp now owns 2,979,093 shares of the company’s stock worth $77,784,000 after purchasing an additional 1,727,559 shares during the period. Finally, Norges Bank acquired a new position in Privia Health Group in the 4th quarter worth $27,959,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Privia Health Group Trading Down 4.0 %

NASDAQ PRVA opened at $18.60 on Monday. Privia Health Group has a 1-year low of $17.54 and a 1-year high of $30.15. The company has a 50 day moving average of $20.39 and a 200-day moving average of $21.61. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 97.90, a PEG ratio of 2.55 and a beta of 0.81.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Privia Health Group had a return on equity of 3.97% and a net margin of 1.39%. The company had revenue of $440.80 million during the quarter, compared to the consensus estimate of $425.81 million. During the same quarter last year, the firm earned $0.14 EPS. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, analysts forecast that Privia Health Group will post 0.26 earnings per share for the current year.

About Privia Health Group

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.