Needham & Company LLC Reiterates “Buy” Rating for Privia Health Group (NASDAQ:PRVA)

Privia Health Group (NASDAQ:PRVA)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $30.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 24.48% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group upped their target price on Privia Health Group from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, February 28th. JMP Securities set a $29.00 price objective on Privia Health Group in a report on Friday, February 28th. Piper Sandler lifted their target price on Privia Health Group from $25.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Macquarie started coverage on shares of Privia Health Group in a research note on Monday, December 16th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, Stephens reaffirmed an “overweight” rating and set a $26.00 price target on shares of Privia Health Group in a research report on Thursday, January 2nd. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $26.87.

Privia Health Group Stock Performance

NASDAQ PRVA opened at $24.10 on Thursday. The stock has a market cap of $2.92 billion, a PE ratio of 241.02, a P/E/G ratio of 3.47 and a beta of 0.88. The firm has a 50-day moving average of $23.76 and a 200-day moving average of $21.49. Privia Health Group has a 52-week low of $15.92 and a 52-week high of $26.04.

Insiders Place Their Bets

In other Privia Health Group news, CFO David Mountcastle sold 5,630 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.38, for a total value of $125,999.40. Following the completion of the transaction, the chief financial officer now owns 179,676 shares of the company’s stock, valued at $4,021,148.88. This represents a 3.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 14.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Durable Capital Partners LP raised its position in shares of Privia Health Group by 3.4% during the fourth quarter. Durable Capital Partners LP now owns 11,487,843 shares of the company’s stock worth $224,587,000 after acquiring an additional 378,255 shares during the last quarter. Riverbridge Partners LLC increased its position in Privia Health Group by 19.7% during the 4th quarter. Riverbridge Partners LLC now owns 5,824,458 shares of the company’s stock valued at $113,868,000 after purchasing an additional 958,418 shares during the period. Geode Capital Management LLC raised its holdings in Privia Health Group by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,415,022 shares of the company’s stock worth $43,986,000 after purchasing an additional 23,178 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Privia Health Group by 19.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,488,979 shares of the company’s stock worth $29,110,000 after purchasing an additional 246,393 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of Privia Health Group by 55.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,418,234 shares of the company’s stock worth $27,727,000 after purchasing an additional 503,002 shares during the period. 94.48% of the stock is owned by institutional investors and hedge funds.

Privia Health Group Company Profile

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.