Brokerages Set Privia Health Group, Inc. (NASDAQ:PRVA) Price Target at $30.50

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $30.50.

Several equities research analysts have weighed in on the company. Truist Financial restated a “buy” rating and set a $31.00 target price (up from $30.00) on shares of Privia Health Group in a research note on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of Privia Health Group in a research report on Monday, December 29th. BMO Capital Markets started coverage on Privia Health Group in a research report on Thursday, November 13th. They issued an “outperform” rating and a $30.00 target price on the stock. Evercore boosted their target price on Privia Health Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Barclays raised their price target on shares of Privia Health Group from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th.

Privia Health Group Stock Up 4.1%

PRVA stock opened at $22.39 on Thursday. The company’s 50-day moving average price is $23.39 and its two-hundred day moving average price is $23.29. The firm has a market cap of $2.75 billion, a P/E ratio of 172.24, a P/E/G ratio of 1.57 and a beta of 0.83. Privia Health Group has a 12 month low of $18.77 and a 12 month high of $26.51.

Insider Buying and Selling

In other Privia Health Group news, CFO David Mountcastle sold 23,887 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $25.03, for a total transaction of $597,891.61. Following the sale, the chief financial officer owned 172,909 shares of the company’s stock, valued at approximately $4,327,912.27. The trade was a 12.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew Shawn Morris sold 13,647 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $25.01, for a total value of $341,311.47. Following the completion of the transaction, the director owned 68,188 shares of the company’s stock, valued at $1,705,381.88. The trade was a 16.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 10.70% of the company’s stock.

Institutional Trading of Privia Health Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van Berkom & Associates Inc. raised its holdings in Privia Health Group by 30.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 3,774,565 shares of the company’s stock valued at $93,987,000 after buying an additional 873,344 shares during the last quarter. Vanguard Group Inc. increased its position in Privia Health Group by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock valued at $301,263,000 after acquiring an additional 607,447 shares during the period. Algert Global LLC raised its stake in shares of Privia Health Group by 277.4% during the third quarter. Algert Global LLC now owns 484,304 shares of the company’s stock valued at $12,059,000 after acquiring an additional 355,966 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in shares of Privia Health Group during the third quarter worth $8,750,000. Finally, Renaissance Group LLC bought a new stake in shares of Privia Health Group in the fourth quarter worth $7,776,000. 94.48% of the stock is currently owned by institutional investors.

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.