# Privia Health Group, Inc. (PRVA)

> Source: Nexqual · https://nexqual.com/PRVA · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Privia Health Group, Inc. (PRVA), nexqual.com/PRVA" · informational, not investment advice.

**Price:** USD 22.89 (+1.85% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 22.47 · day 22.6–23 · 52w 18.92–28.82 · market cap $2.92B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.36B, net income $28.1M (1.2% margin) (SEC filings).
- Valuation: P/E 103.9x (avg 142.8x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold PRVA (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 12 Form 4 filings, $15.8M; 2 not under a Rule 10b5-1 plan ($193K); 0 by opportunistic insiders, 12 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.78 on a 1–5 scale) (18 analysts), mean target USD 31.47 (range 24–40).
- Total return with dividends: 1Y -11.6% vs S&P 500 +14.9%; 5Y -3.3% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.24, revenue estimate $611M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $966M | $1.36B | $1.66B | $1.74B | $2.12B | $2.36B |
| Operating income | -$217M | -$19.1M | $20.6M | $17.0M | $34.2M | $44.9M |
| Net income | -$188M | -$8.6M | $23.1M | $14.4M | $22.9M | $28.1M |
| EPS (diluted) | -$1.83 | -$0.08 | $0.19 | $0.11 | $0.18 | — |
| Free cash flow | $54.5M | $47.1M | $80.7M | — | — | — |
| Operating margin | -22.5% | -1.4% | 1.2% | 1.0% | 1.6% | 1.9% |
| Net margin | -19.5% | -0.6% | 1.4% | 0.8% | 1.1% | 1.2% |
| Revenue growth | +18.3% | +40.4% | +22.2% | +4.7% | +22.3% | — |
| Cash + short-term investments | $321M | $348M | $390M | $491M | $480M | — |
| Total debt | $31.7M | $0K | — | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 103.9x · P/S 1.2x · P/B 3.7x · Earnings yield 0.96%
P/E at fiscal year-ends: Dec 2025 133.3x, Dec 2024 170.7x, Dec 2023 124.4x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold PRVA. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Henry Ellenbogen | Durable Capital Partners | 2.91% | $299M | Reduced -3.7% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
10 of 12 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-07-09 | Mountcastle David | EVP & Chief Financial Officer | 21,275 | $589K | 10.9% | Yes | Routine (sold in Apr & May each year 2023–2025; this trade is outside those months) |
| 2026-07-07 | Mountcastle David | EVP & Chief Financial Officer | 600 | $17K | 0.3% | Yes | Routine (sold in Apr & May each year 2023–2025; this trade is outside those months) |
| 2026-07-02…2026-07-06 | Morris Matthew Shawn | Director | 112,759 | $3.1M | 54.9% | Yes | Routine (sold in Apr each year 2023–2025; this trade is outside those months) |
| 2026-07-02 | Mountcastle David | EVP & Chief Financial Officer | 24,734 | $680K | 11.2% | Yes | Routine (sold in Apr & May each year 2023–2025; this trade is outside those months) |
| 2026-06-30…2026-07-01 | Morris Matthew Shawn | Director | 135,498 | $3.6M | 57.3% | Yes | Routine (sold in Apr each year 2023–2025; this trade is outside those months) |
| 2026-06-26…2026-06-29 | Morris Matthew Shawn | Director | 151,322 | $3.8M | 59.9% | Yes | Routine (sold in Apr each year 2023–2025; this trade is outside those months) |
| 2026-06-26 | Mountcastle David | EVP & Chief Financial Officer | 17,196 | $433K | 7.2% | Yes | Routine (sold in Apr & May each year 2023–2025; this trade is outside those months) |
| 2026-05-11…2026-05-12 | Mehrotra Parth | Chief Executive Officer | 121,086 | $2.7M | 21.8% | Yes | Routine (sold in Apr & May each year 2023–2025) |
| 2026-05-11 | Mountcastle David | EVP & Chief Financial Officer | 3,385 | $77K | 1.5% | No | Routine (sold in Apr & May each year 2023–2025) |
| 2026-05-01…2026-05-04 | Mountcastle David | EVP & Chief Financial Officer | 8,385 | $210K | 3.6% | Yes | Routine (sold in Apr & May each year 2023–2025) |
| 2026-05-01…2026-05-04 | Morris Matthew Shawn | Director | 18,113 | $453K | 16.3% | Yes | Routine (sold in Apr each year 2023–2025; this trade is outside those months) |
| 2026-04-02 | Mountcastle David | EVP & Chief Financial Officer | 5,566 | $116K | 2.4% | No | Routine (sold in Apr & May each year 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.78 on a 1–5 scale), 18 analysts; mean target USD 31.47 (low 24, high 40).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -11.6% | -3.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -11.6% | -0.7% |
| Volatility (annualized) | 32.0% | 41.7% |
| Max drawdown | -32.0% (Jul 2026→Sep 2026) | -59.0% (Sep 2022→May 2024) |

## Peers (Health Information Services)
SDGR (Schrodinger, Inc.) USD 22.6 -5.44% · HTFL (Heartflow, Inc.) USD 55.43 -0.70% · OMCL (Omnicell, Inc.) USD 37.1 +2.09% · CERT (Certara, Inc.) USD 10.09 -0.88% · WAY (Waystar Holding Corp.) USD 28.98 +0.49% · DOCS (Doximity, Inc.) USD 33.68 +0.30%

## More
Full page: https://nexqual.com/PRVA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| FFS-patient care | $412.6M | 65.2% | +24.5% |
| Capitated revenue | $95.2M | 15.0% | +26.0% |
| Shared savings | $68.9M | 10.9% | +14.8% |
| FFS-administrative services | $33.2M | 5.3% | -5.4% |
| Care management fees (PMPM) | $20.7M | 3.3% | +22.5% |
| Other revenue | $2.0M | 0.3% | -7.4% |
| Total revenue | $632.6M | 100% | — |

## Customer concentration

Period ended 2026-06-30: 72%, 28%, 17%, 16%, 15%, 13% of revenue from unnamed direct customers (10-Q, filed 2026-08-06).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.24 | $0.26 | -7.6% | $610.6M | 10 |
| Next quarter (ends 2026-12-31) | $0.25 | $0.25 | -1.8% | $611.3M | 10 |
| Current fiscal year (ends 2026-12-31) | $0.89 | $0.95 | -6.8% | $2.46B | 10 |
| Next fiscal year (ends 2027-12-31) | $1.06 | $1.10 | -3.1% | $2.70B | 10 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±13.7%; last 8 reports averaged ±4.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 61.2% | ±13.7% |
| 2027-02-19 | 119 | 34.2% | ±15.5% |