Privia Health Group (NASDAQ:PRVA) Price Target Cut to $38.00 by Analysts at JPMorgan Chase & Co.

Privia Health Group (NASDAQ:PRVA) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $43.00 to $38.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 64.79% from the company’s current price.

Several other research analysts have also recently weighed in on PRVA. UBS Group reduced their price objective on Privia Health Group from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, August 18th. TD Cowen decreased their price target on shares of Privia Health Group from $44.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, August 15th. Finally, Evercore ISI cut their price objective on shares of Privia Health Group from $32.00 to $26.00 in a research report on Wednesday, October 11th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $35.69.

Privia Health Group Price Performance

PRVA traded up $0.19 during trading on Friday, reaching $23.06. The company had a trading volume of 108,614 shares, compared to its average volume of 1,143,674. The company has a market cap of $2.72 billion, a P/E ratio of 74.39, a PEG ratio of 3.09 and a beta of 0.87. Privia Health Group has a 12 month low of $19.68 and a 12 month high of $30.15. The business’s fifty day moving average price is $22.61 and its 200 day moving average price is $24.95.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Friday, November 3rd. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $417.30 million for the quarter, compared to analysts’ expectations of $410.51 million. Privia Health Group had a net margin of 2.40% and a return on equity of 6.80%. The firm’s revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. As a group, sell-side analysts predict that Privia Health Group will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Privia Health Group news, Director William M. Sullivan sold 18,153 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $25.03, for a total value of $454,369.59. Following the completion of the sale, the director now owns 5,510,484 shares in the company, valued at $137,927,414.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Privia Health Group news, Director William M. Sullivan sold 18,153 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $25.03, for a total transaction of $454,369.59. Following the transaction, the director now owns 5,510,484 shares of the company’s stock, valued at $137,927,414.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Thomas Bartrum sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $25.77, for a total value of $386,550.00. Following the completion of the sale, the executive vice president now owns 106,114 shares in the company, valued at approximately $2,734,557.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,306 shares of company stock worth $1,321,248. Insiders own 57.60% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System increased its stake in shares of Privia Health Group by 3.9% during the first quarter. California State Teachers Retirement System now owns 89,445 shares of the company’s stock worth $2,470,000 after purchasing an additional 3,345 shares during the period. Blair William & Co. IL grew its stake in shares of Privia Health Group by 11.7% in the first quarter. Blair William & Co. IL now owns 795,320 shares of the company’s stock valued at $21,959,000 after acquiring an additional 83,029 shares in the last quarter. Essex Investment Management Co. LLC increased its position in Privia Health Group by 38.1% during the first quarter. Essex Investment Management Co. LLC now owns 4,361 shares of the company’s stock worth $120,000 after acquiring an additional 1,202 shares during the period. Riverbridge Partners LLC raised its position in shares of Privia Health Group by 92.3% in the second quarter. Riverbridge Partners LLC now owns 4,344,042 shares of the company’s stock valued at $113,423,000 after buying an additional 2,084,802 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Privia Health Group by 1,223.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 169,949 shares of the company’s stock valued at $4,437,000 after buying an additional 157,108 shares in the last quarter. 92.40% of the stock is currently owned by institutional investors and hedge funds.

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.