Clearbridge Investments LLC Sells 31,619 Shares of Privia Health Group, Inc. $PRVA

Clearbridge Investments LLC trimmed its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 7.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 369,394 shares of the company’s stock after selling 31,619 shares during the period. Clearbridge Investments LLC’s holdings in Privia Health Group were worth $8,758,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PRVA. Royal Bank of Canada increased its position in shares of Privia Health Group by 63.5% during the 1st quarter. Royal Bank of Canada now owns 245,633 shares of the company’s stock worth $5,514,000 after purchasing an additional 95,371 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Privia Health Group by 24.7% during the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $916,000 after purchasing an additional 8,068 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Privia Health Group by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company’s stock worth $2,666,000 after purchasing an additional 3,714 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Privia Health Group by 55.1% during the 1st quarter. Intech Investment Management LLC now owns 56,553 shares of the company’s stock worth $1,270,000 after purchasing an additional 20,082 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Privia Health Group during the 1st quarter worth about $154,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Insider Buying and Selling at Privia Health Group

In other Privia Health Group news, 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 value of $354,248.08. Following the completion of the sale, the chief executive officer owned 434,357 shares in the company, valued at approximately $9,833,842.48. This trade represents a 3.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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. Also, CFO David Mountcastle sold 3,385 shares of Privia Health Group stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $22.60, for a total transaction of $76,501.00. Following the sale, the chief financial officer owned 211,462 shares of the company’s stock, valued at approximately $4,779,041.20. This represents a 1.58% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 223,229 shares of company stock worth $5,041,569. 5.70% of the stock is currently owned by corporate insiders.

Privia Health Group Trading Up 3.3%

PRVA opened at $22.90 on Thursday. The stock has a market capitalization of $2.89 billion, a PE ratio of 143.13, a PEG ratio of 1.60 and a beta of 0.90. Privia Health Group, Inc. has a 1-year low of $18.77 and a 1-year high of $26.51. The firm has a 50-day moving average price of $22.76 and a two-hundred day moving average price of $22.96.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.11. The firm had revenue of $603.85 million during the quarter, compared to analysts’ expectations of $560.99 million. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. On average, research analysts predict that Privia Health Group, Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PRVA shares. Citigroup dropped their target price on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Jefferies Financial Group reiterated a “buy” rating and set a $32.00 target price on shares of Privia Health Group in a research report on Thursday, February 26th. Piper Sandler reiterated an “overweight” rating and set a $36.00 target price on shares of Privia Health Group in a research report on Thursday, February 26th. Canaccord Genuity Group dropped their target price on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Truist Financial increased their target price on shares of Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.15.

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.