Bridgewater Associates LP Reduces Position in Privia Health Group, Inc. (NASDAQ:PRVA)

Bridgewater Associates LP trimmed its position in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 70.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,318 shares of the company's stock after selling 28,797 shares during the quarter. Bridgewater Associates LP's holdings in Privia Health Group were worth $241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers raised its stake in shares of Privia Health Group by 1.3% in the fourth quarter. Rhumbline Advisers now owns 287,200 shares of the company's stock valued at $5,615,000 after acquiring an additional 3,658 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Privia Health Group by 33.1% during the 4th quarter. Nordea Investment Management AB now owns 349,773 shares of the company's stock valued at $6,953,000 after acquiring an additional 86,910 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Privia Health Group by 2.2% during the third quarter. Franklin Resources Inc. now owns 1,300,240 shares of the company's stock worth $23,092,000 after buying an additional 28,480 shares during the last quarter. Barclays PLC increased its stake in Privia Health Group by 240.3% in the third quarter. Barclays PLC now owns 224,018 shares of the company's stock valued at $4,079,000 after purchasing an additional 158,188 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Privia Health Group by 8.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 188,384 shares of the company's stock worth $3,430,000 after buying an additional 14,641 shares during the period. 94.48% of the stock is owned by institutional investors.

Privia Health Group Trading Down 1.2 %

PRVA traded down $0.29 during trading on Friday, hitting $23.17. 383,161 shares of the company's stock traded hands, compared to its average volume of 775,054. Privia Health Group, Inc. has a 12-month low of $15.92 and a 12-month high of $26.04. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 231.72, a PEG ratio of 3.47 and a beta of 0.88. The company's 50 day simple moving average is $23.64 and its two-hundred day simple moving average is $21.87.

Insider Activity at Privia Health Group

In other news, CFO David Mountcastle sold 5,630 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.38, for a total value of $125,999.40. Following the completion of the transaction, the chief financial officer now owns 179,676 shares of the company's stock, valued at $4,021,148.88. This represents a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PRVA. Piper Sandler boosted their price objective on shares of Privia Health Group from $25.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Truist Financial lifted their price objective on shares of Privia Health Group from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, April 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 price objective on shares of Privia Health Group in a research report on Thursday, April 10th. Canaccord Genuity Group upped their target price on Privia Health Group from $29.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, JMP Securities set a $29.00 price objective on Privia Health Group in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Privia Health Group presently has an average rating of "Buy" and an average target price of $27.14.

Privia Health Group Company Profile

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.