JPMorgan Chase & Co. Raises Privia Health Group (NASDAQ:PRVA) Price Target to $28.00

Privia Health Group (NASDAQ:PRVA) had its price objective increased by research analysts at JPMorgan Chase & Co. from $27.00 to $28.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 30.35% from the company’s previous close.

A number of other analysts have also commented on PRVA. Truist Financial lifted their target price on shares of Privia Health Group from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Barclays lifted their price objective on Privia Health Group from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Robert W. Baird increased their target price on Privia Health Group from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday, August 26th. KeyCorp began coverage on Privia Health Group in a research report on Friday, October 11th. They set an “overweight” rating and a $23.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Privia Health Group in a research note on Wednesday, August 14th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Privia Health Group currently has an average rating of “Buy” and a consensus target price of $24.93.

Privia Health Group Price Performance

Shares of NASDAQ:PRVA opened at $21.48 on Friday. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 214.82, a P/E/G ratio of 5.45 and a beta of 0.76. The company has a 50 day moving average of $19.24 and a 200-day moving average of $18.70. Privia Health Group has a one year low of $15.92 and a one year high of $24.30.

Insider Buying and Selling

In other news, CEO Parth Mehrotra sold 135,142 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.50, for a total transaction of $2,500,127.00. Following the completion of the transaction, the chief executive officer now directly owns 247,771 shares of the company’s stock, valued at $4,583,763.50. This represents a 35.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Privia Health Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in shares of Privia Health Group by 107.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,795 shares of the company’s stock worth $31,000 after acquiring an additional 930 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Privia Health Group by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 52,200 shares of the company’s stock valued at $907,000 after buying an additional 1,300 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Privia Health Group by 8.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,758 shares of the company’s stock worth $170,000 after buying an additional 788 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Privia Health Group by 7.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,742 shares of the company’s stock worth $413,000 after buying an additional 1,653 shares during the last quarter. Finally, Peregrine Capital Management LLC grew its holdings in shares of Privia Health Group by 11.5% in the 2nd quarter. Peregrine Capital Management LLC now owns 314,190 shares of the company’s stock valued at $5,461,000 after acquiring an additional 32,311 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

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.