Key Points
- Privia Health CEO Parth Mehrotra sold 105,439 shares on May 11 at an average price of $22.55, for proceeds of about $2.38 million. The sale reduced his stake by 18.98% and was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards.
- Mehrotra has been actively selling shares in recent months, including additional transactions on May 12 and several sales in March. The article lists multiple trades totaling hundreds of thousands of dollars each.
- Privia Health recently beat quarterly earnings expectations, reporting $0.19 EPS versus the $0.08 estimate and revenue of $603.85 million, up 25.8% year over year. Despite the insider selling, analysts still see the stock favorably overall with a consensus “Moderate Buy” rating and a $31.23 price target.
Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) CFO David Mountcastle sold 3,385 shares of Privia Health Group stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $22.60, for a total value of $76,501.00. Following the sale, the chief financial officer directly owned 211,462 shares of the company's stock, valued at $4,779,041.20. This trade represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
David Mountcastle also recently made the following trade(s):
- On Monday, May 4th, David Mountcastle sold 1,206 shares of Privia Health Group stock. The stock was sold at an average price of $25.00, for a total value of $30,150.00.
- On Friday, May 1st, David Mountcastle sold 7,179 shares of Privia Health Group stock. The stock was sold at an average price of $25.03, for a total value of $179,690.37.
- On Thursday, April 2nd, David Mountcastle sold 5,566 shares of Privia Health Group stock. The stock was sold at an average price of $20.85, for a total value of $116,051.10.
- On Monday, March 16th, David Mountcastle sold 6,391 shares of Privia Health Group stock. The stock was sold at an average price of $22.11, for a total value of $141,305.01.
- On Friday, March 13th, David Mountcastle sold 6,565 shares of Privia Health Group stock. The stock was sold at an average price of $21.52, for a total value of $141,278.80.
- On Thursday, March 12th, David Mountcastle sold 6,453 shares of Privia Health Group stock. The shares were sold at an average price of $21.90, for a total transaction of $141,320.70.
- On Monday, March 9th, David Mountcastle sold 5,829 shares of Privia Health Group stock. The shares were sold at an average price of $22.84, for a total transaction of $133,134.36.
- On Friday, March 6th, David Mountcastle sold 5,177 shares of Privia Health Group stock. The shares were sold at an average price of $23.15, for a total transaction of $119,847.55.
- On Thursday, February 26th, David Mountcastle sold 5,361 shares of Privia Health Group stock. The shares were sold at an average price of $25.00, for a total transaction of $134,025.00.
- On Friday, February 27th, David Mountcastle sold 7,697 shares of Privia Health Group stock. The shares were sold at an average price of $25.05, for a total transaction of $192,809.85.
Privia Health Group Price Performance
Shares of PRVA opened at $22.63 on Thursday. Privia Health Group, Inc. has a 1-year low of $18.77 and a 1-year high of $26.51. The stock has a market cap of $2.85 billion, a PE ratio of 141.45, a price-to-earnings-growth ratio of 1.69 and a beta of 0.96. The firm has a fifty day moving average price of $22.65 and a 200 day moving average price of $23.25.
Privia Health Group (NASDAQ:PRVA - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.11. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. The firm had revenue of $603.85 million during the quarter, compared to analysts' expectations of $560.99 million. During the same period in the previous year, the company earned $0.22 earnings per share. Privia Health Group's quarterly revenue was up 25.8% compared to the same quarter last year. As a group, equities analysts expect that Privia Health Group, Inc. will post 0.35 EPS for the current fiscal year.
Institutional Investors Weigh In On Privia Health Group
Hedge funds have recently modified their holdings of the stock. Great Lakes Advisors LLC purchased a new position in Privia Health Group in the 3rd quarter valued at $4,487,000. ArrowMark Colorado Holdings LLC purchased a new position in Privia Health Group during the 3rd quarter worth $8,750,000. Royce & Associates LP lifted its stake in shares of Privia Health Group by 54.5% in the 3rd quarter. Royce & Associates LP now owns 607,191 shares of the company's stock worth $15,119,000 after acquiring an additional 214,166 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Privia Health Group by 25.9% in the third quarter. Public Sector Pension Investment Board now owns 450,010 shares of the company's stock valued at $11,205,000 after acquiring an additional 92,507 shares in the last quarter. Finally, Summit Global Investments boosted its holdings in shares of Privia Health Group by 273.9% in the third quarter. Summit Global Investments now owns 33,677 shares of the company's stock valued at $839,000 after acquiring an additional 24,670 shares in the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on PRVA shares. Truist Financial boosted their price target on shares of Privia Health Group from $31.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Citigroup reduced their price target on shares of Privia Health Group from $34.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Evercore set a $26.00 price target on shares of Privia Health Group in a research report on Wednesday, April 8th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $32.00 target price on shares of Privia Health Group in a report on Thursday, February 26th. Finally, Barclays increased their target price on shares of Privia Health Group from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 25th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Privia Health Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.23.
View Our Latest Analysis on PRVA
About Privia Health Group
(
Get Free Report)
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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