Privia Health Group, Inc. (NASDAQ:PRVA) Receives Consensus Recommendation of “Buy” from Analysts

Privia Health Group, Inc. (NASDAQ:PRVA) has received an average rating of “Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $25.07.

Several equities research analysts have issued reports on PRVA shares. Barclays raised their price target on Privia Health Group from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Truist Financial raised their price target on Privia Health Group from $24.00 to $27.00 and gave the company a “buy” rating in a report on Friday, November 8th. KeyCorp started coverage on Privia Health Group in a report on Friday, October 11th. They set an “overweight” rating and a $23.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $28.00 price target on shares of Privia Health Group in a report on Wednesday, August 14th. Finally, Robert W. Baird raised their price target on Privia Health Group from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, August 26th.

Insider Buying and Selling

In related news, CEO Parth Mehrotra sold 135,142 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.50, for a total value of $2,500,127.00. Following the transaction, the chief executive officer now owns 247,771 shares in the company, valued at approximately $4,583,763.50. This trade represents a 35.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 14.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRVA. First Light Asset Management LLC bought a new position in shares of Privia Health Group in the first quarter worth $21,620,000. Millennium Management LLC increased its position in shares of Privia Health Group by 2,994.2% in the second quarter. Millennium Management LLC now owns 1,138,526 shares of the company’s stock worth $19,788,000 after purchasing an additional 1,101,730 shares during the period. Eventide Asset Management LLC increased its position in shares of Privia Health Group by 979.2% in the third quarter. Eventide Asset Management LLC now owns 822,438 shares of the company’s stock worth $14,977,000 after purchasing an additional 746,231 shares during the period. Icon Wealth Advisors LLC increased its position in shares of Privia Health Group by 1,910.1% in the third quarter. Icon Wealth Advisors LLC now owns 300,889 shares of the company’s stock worth $5,479,000 after purchasing an additional 285,920 shares during the period. Finally, FMR LLC grew its position in Privia Health Group by 1.5% in the third quarter. FMR LLC now owns 18,169,043 shares of the company’s stock valued at $330,858,000 after acquiring an additional 271,645 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Privia Health Group Price Performance

Shares of Privia Health Group stock opened at $20.95 on Tuesday. The business has a fifty day simple moving average of $18.76 and a two-hundred day simple moving average of $18.51. Privia Health Group has a 1 year low of $15.92 and a 1 year high of $24.30. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 209.52, a P/E/G ratio of 5.29 and a beta of 0.76.

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.