Privia Health Group, Inc. $PRVA Stock Position Raised by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 1.1% in the fourth quarter, Holdings Channel reports. The firm owned 2,814,290 shares of the company’s stock after buying an additional 31,204 shares during the period. Geode Capital Management LLC’s holdings in Privia Health Group were worth $66,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRVA. Vanguard Group Inc. raised its stake in shares of Privia Health Group by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock worth $301,263,000 after purchasing an additional 607,447 shares in the last quarter. Algert Global LLC raised its stake in shares of Privia Health Group by 277.4% during the 3rd quarter. Algert Global LLC now owns 484,304 shares of the company’s stock worth $12,059,000 after purchasing an additional 355,966 shares in the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in shares of Privia Health Group during the 3rd quarter worth about $8,750,000. Freestone Grove Partners LP raised its stake in shares of Privia Health Group by 59.6% during the 3rd quarter. Freestone Grove Partners LP now owns 863,148 shares of the company’s stock worth $21,492,000 after purchasing an additional 322,426 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Privia Health Group by 93.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 609,278 shares of the company’s stock valued at $14,013,000 after acquiring an additional 294,101 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO David Mountcastle sold 7,179 shares of Privia Health Group stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $25.03, for a total transaction of $179,690.37. Following the sale, the chief financial officer owned 214,847 shares of the company’s stock, valued at approximately $5,377,620.41. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 17,096 shares of Privia Health Group stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $24.99, for a total value of $427,229.04. Following the sale, the director directly owned 68,188 shares in the company, valued at $1,704,018.12. The trade was a 20.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 256,445 shares of company stock valued at $5,769,000 in the last three months. Company insiders own 5.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Evercore set a $26.00 price objective on Privia Health Group in a research note on Wednesday, April 8th. Piper Sandler reissued an “overweight” rating and issued a $36.00 price objective on shares of Privia Health Group in a research note on Thursday, February 26th. Citigroup cut their price objective on Privia Health Group from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Barclays cut their price objective on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 26th. Finally, Weiss Ratings downgraded Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Privia Health Group presently has an average rating of “Moderate Buy” and an average price target of $31.15.

Privia Health Group Stock Down 1.0%

Shares of NASDAQ PRVA opened at $21.41 on Tuesday. The business’s 50 day moving average is $22.66 and its two-hundred day moving average is $22.96. The company has a market cap of $2.70 billion, a P/E ratio of 133.82, a P/E/G ratio of 1.56 and a beta of 0.90. Privia Health Group, Inc. has a 12 month low of $18.77 and a 12 month high of $26.51.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.08 by $0.11. The company had revenue of $603.85 million for the quarter, compared to the consensus estimate of $560.99 million. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 EPS. Sell-side analysts expect that Privia Health Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Privia Health Group Company Profile

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.