Privia Health Group (NASDAQ:PRVA) Price Target Raised to $21.00

Privia Health Group (NASDAQ:PRVA) had its target price raised by research analysts at Barclays from $19.00 to $21.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential downside of 3.49% from the company’s previous close.

A number of other analysts have also issued reports on PRVA. Truist Financial upped their price target on shares of Privia Health Group from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $28.00 target price on shares of Privia Health Group in a research note on Wednesday, August 14th. Robert W. Baird lifted their price target on shares of Privia Health Group from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday, August 26th. Finally, KeyCorp initiated coverage on Privia Health Group in a research note on Friday, October 11th. They issued an “overweight” rating and a $23.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $25.07.

Privia Health Group Trading Down 3.4 %

Shares of NASDAQ:PRVA traded down $0.77 during trading on Friday, reaching $21.76. The company’s stock had a trading volume of 622,260 shares, compared to its average volume of 865,709. The firm’s 50 day simple moving average is $18.41 and its two-hundred day simple moving average is $18.34. Privia Health Group has a 12 month low of $15.92 and a 12 month high of $24.35. The stock has a market capitalization of $2.60 billion, a PE ratio of 181.33, a price-to-earnings-growth ratio of 4.36 and a beta of 0.76.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Privia Health Group had a return on equity of 2.42% and a net margin of 0.88%. The business had revenue of $422.30 million for the quarter, compared to the consensus estimate of $411.50 million. During the same period in the prior year, the business posted $0.06 earnings per share. Privia Health Group’s revenue was up 2.2% on a year-over-year basis. Research analysts anticipate that Privia Health Group will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Parth Mehrotra sold 135,142 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.50, for a total transaction of $2,500,127.00. Following the completion of the sale, the chief executive officer now owns 247,771 shares in the company, valued at approximately $4,583,763.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 14.20% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Privia Health Group by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,970 shares of the company’s stock worth $176,000 after buying an additional 756 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Privia Health Group by 18.2% in the first quarter. Janney Montgomery Scott LLC now owns 60,306 shares of the company’s stock valued at $1,181,000 after purchasing an additional 9,286 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of Privia Health Group by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 89,896 shares of the company’s stock worth $1,761,000 after purchasing an additional 1,176 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Privia Health Group by 15.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 25,378 shares of the company’s stock worth $497,000 after purchasing an additional 3,487 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Privia Health Group in the first quarter valued at approximately $196,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

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.