Jupiter Topco LLC Invests $1.13 Million in Privia Health Group, Inc. $PRVA

Jupiter Topco LLC purchased a new stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,085 shares of the company’s stock, valued at approximately $1,134,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new position in Privia Health Group in the 2nd quarter valued at approximately $2,602,000. PDT Partners LLC bought a new stake in shares of Privia Health Group in the 2nd quarter worth $4,651,000. Canada Pension Plan Investment Board bought a new stake in shares of Privia Health Group in the 2nd quarter worth $391,000. Rubicon Founders LLC purchased a new position in shares of Privia Health Group in the second quarter worth $153,635,863. Finally, Legal & General Group Plc bought a new position in shares of Privia Health Group during the second quarter valued at $6,605,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Stock Performance

Privia Health Group stock opened at $20.66 on Friday. Privia Health Group, Inc. has a one year low of $19.53 and a one year high of $28.82. The stock has a fifty day moving average of $23.96 and a 200 day moving average of $23.14. The stock has a market cap of $2.64 billion, a PE ratio of 98.39, a price-to-earnings-growth ratio of 1.63 and a beta of 0.87.

Privia Health Group (NASDAQ:PRVA) last announced its earnings results on Thursday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.12. The business had revenue of $632.63 million for the quarter, compared to analysts’ expectations of $597.33 million. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%.The business’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share. As a group, sell-side analysts predict that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays dropped 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 report on Tuesday, May 26th. Citigroup restated a “buy” rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Zacks Research raised shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Canaccord Genuity Group set a $32.00 price target on shares of Privia Health Group in a research note on Friday, August 7th. Finally, Weiss Ratings raised shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Insider Activity at Privia Health Group

In related news, Director Matthew Morris sold 88,110 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $25.33, for a total value of $2,231,826.30. Following the transaction, the director owned 76,651 shares of the company’s stock, valued at approximately $1,941,569.83. This trade represents a 53.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 24,734 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total transaction of $680,185.00. Following the sale, the chief financial officer owned 186,728 shares of the company’s stock, valued at $5,135,020. This trade represents a 11.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 327,886 shares of company stock worth $8,628,256 in the last quarter. Company insiders own 5.70% of the company’s stock.

About Privia Health Group

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.