Privia Health Group, Inc. $PRVA Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lessened its stake in Privia Health Group, Inc. (NASDAQ:PRVA) by 18.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 368,695 shares of the company’s stock after selling 83,896 shares during the quarter. OMERS ADMINISTRATION Corp owned 0.29% of Privia Health Group worth $7,584,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PRVA. ArrowMark Colorado Holdings LLC raised its holdings in Privia Health Group by 139.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company’s stock valued at $19,946,000 after acquiring an additional 489,866 shares in the last quarter. Freestone Grove Partners LP lifted its stake in Privia Health Group by 40.6% in the fourth quarter. Freestone Grove Partners LP now owns 1,213,342 shares of the company’s stock worth $28,768,000 after acquiring an additional 350,194 shares during the last quarter. Renaissance Group LLC acquired a new position in Privia Health Group during the 4th quarter worth approximately $7,776,000. Qube Research & Technologies Ltd increased its position 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 purchasing an additional 294,101 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Privia Health Group in the 2nd quarter valued at approximately $6,219,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PRVA shares. Evercore set a $26.00 price objective on shares of Privia Health Group in a research report on Wednesday, April 8th. Citigroup reissued a “buy” rating on shares of Privia Health Group in a report on Thursday. Barclays cut their price target 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. Zacks Research cut shares of Privia Health Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Finally, Canaccord Genuity Group lowered their target price on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.15.

Privia Health Group Stock Performance

Shares of PRVA stock opened at $25.50 on Monday. The stock has a 50 day simple moving average of $24.40 and a 200-day simple moving average of $23.33. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 159.38, a price-to-earnings-growth ratio of 2.02 and a beta of 0.83. Privia Health Group, Inc. has a 12-month low of $18.77 and a 12-month high of $28.82.

Insiders Place Their Bets

In other news, CFO David Mountcastle sold 21,275 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $27.67, for a total transaction of $588,679.25. Following the transaction, the chief financial officer directly owned 164,853 shares of the company’s stock, valued at $4,561,482.51. This represents a 11.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Parth Mehrotra sold 15,647 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $22.64, for a total transaction of $354,248.08. Following the completion of the sale, the chief executive officer owned 434,357 shares of the company’s stock, valued at $9,833,842.48. This trade represents a 3.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 478,855 shares of company stock worth $12,099,109. Corporate insiders own 5.70% of the company’s stock.

Privia Health Group 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.