Privia Health Group (NASDAQ:PRVA – Get Free Report) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.
Several other analysts have also issued reports on the stock. Weiss Ratings upgraded shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Canaccord Genuity Group decreased their price target on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Evercore set a $26.00 price target on shares of Privia Health Group in a research note on Wednesday, April 8th. Finally, Barclays cut 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 report on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.15.
Check Out Our Latest Analysis on Privia Health Group
Privia Health Group Stock Down 0.1%
Insiders Place Their Bets
In related news, CFO David Mountcastle sold 24,734 shares of Privia Health Group stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total transaction of $680,185.00. Following the transaction, the chief financial officer owned 186,728 shares in the company, valued at approximately $5,135,020. The trade was a 11.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Parth Mehrotra sold 105,439 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $22.55, for a total transaction of $2,377,649.45. Following the completion of the transaction, the chief executive officer directly owned 450,004 shares of the company’s stock, valued at $10,147,590.20. This represents a 18.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 456,980 shares of company stock worth $11,493,887 over the last three months. 5.70% of the stock is currently owned by company insiders.
Institutional Trading of Privia Health Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bayban purchased a new stake in Privia Health Group during the 4th quarter valued at approximately $26,000. Hantz Financial Services Inc. lifted its holdings 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 worth $27,000 after buying an additional 926 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Privia Health Group by 579.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock worth $38,000 after acquiring an additional 1,351 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in shares of Privia Health Group during the second quarter worth $69,000. Finally, Canada Pension Plan Investment Board grew its stake in Privia Health Group by 48.0% during 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 in the last quarter. Institutional investors own 94.48% of the company’s stock.
About Privia Health Group
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.
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