Needham & Company LLC Reaffirms Buy Rating for Privia Health Group (NASDAQ:PRVA)

Privia Health Group (NASDAQ:PRVA)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They currently have a $30.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 24.48% from the stock’s current price.

Several other analysts have also weighed in on PRVA. JMP Securities set a $29.00 price objective on shares of Privia Health Group in a research note on Friday, February 28th. Canaccord Genuity Group raised their price target on shares of Privia Health Group from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $26.00 price objective on shares of Privia Health Group in a report on Thursday, January 2nd. Macquarie assumed coverage on Privia Health Group in a research note on Monday, December 16th. They issued an “outperform” rating and a $25.00 target price for the company. Finally, Truist Financial boosted their target price on Privia Health Group from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $26.87.

Privia Health Group Stock Performance

Shares of PRVA stock opened at $24.10 on Thursday. Privia Health Group has a fifty-two week low of $15.92 and a fifty-two week high of $26.04. The stock has a 50 day simple moving average of $23.76 and a two-hundred day simple moving average of $21.49. The company has a market cap of $2.92 billion, a P/E ratio of 241.02, a PEG ratio of 3.47 and a beta of 0.88.

Insider Transactions at Privia Health Group

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

Institutional Investors Weigh In On Privia Health Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRVA. Durable Capital Partners LP boosted its stake in shares of Privia Health Group by 3.4% in the 4th quarter. Durable Capital Partners LP now owns 11,487,843 shares of the company’s stock worth $224,587,000 after buying an additional 378,255 shares during the last quarter. Riverbridge Partners LLC lifted its holdings in Privia Health Group by 19.7% during the fourth quarter. Riverbridge Partners LLC now owns 5,824,458 shares of the company’s stock worth $113,868,000 after acquiring an additional 958,418 shares during the period. Geode Capital Management LLC boosted its position in Privia Health Group by 1.0% in the third 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 grew its stake in Privia Health Group by 19.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,488,979 shares of the company’s stock valued at $29,110,000 after purchasing an additional 246,393 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in shares of Privia Health Group by 55.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,418,234 shares of the company’s stock valued at $27,727,000 after purchasing an additional 503,002 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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.