Caisse de depot et placement du Quebec Buys Shares of 326,424 Privia Health Group, Inc. $PRVA

Key Points

• Caisse de dépôt et placement du Québec acquired 326,424 Privia Health shares worth approximately $8.4 million, representing about 0.26% of the company. Institutional investors collectively own 94.48% of PRVA.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $31 versus the stock’s reported $20.79 opening price.
• Privia exceeded quarterly expectations, reporting $0.19 in adjusted earnings per share versus the $0.07 consensus and $632.63 million in revenue, up 21.4% year over year. However, insiders sold 327,886 shares worth $8.6 million over the past three months.

Caisse de depot et placement du Quebec acquired a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 326,424 shares of the company's stock, valued at approximately $8,399,000. Caisse de depot et placement du Quebec owned approximately 0.26% of Privia Health Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bayban acquired a new position in shares of Privia Health Group in the fourth quarter worth $26,000. Hantz Financial Services Inc. raised its stake in Privia Health Group by 456.2% in the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company's stock valued at $27,000 after purchasing an additional 926 shares during the last quarter. Global Retirement Partners LLC raised its stake in Privia Health Group by 579.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company's stock valued at $38,000 after purchasing an additional 1,351 shares during the last quarter. Allworth Financial LP purchased a new position in Privia Health Group in the 2nd quarter valued at about $48,000. Finally, Harbor Investment Advisory LLC purchased a new position in Privia Health Group in the 2nd quarter valued at about $69,000. Hedge funds and other institutional investors own 94.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PRVA. Weiss Ratings upgraded shares of Privia Health Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 2nd. Barclays reduced their price objective on shares of 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. Citigroup restated a "buy" rating on shares of Privia Health Group in a research report on Thursday, July 23rd. Canaccord Genuity Group set a $32.00 target price on shares of Privia Health Group in a research note on Friday, August 7th. Finally, Zacks Research upgraded Privia Health Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.00.

Privia Health Group Price Performance

Shares of PRVA stock opened at $20.79 on Friday. The firm's 50-day simple moving average is $24.33 and its 200-day simple moving average is $23.18. Privia Health Group, Inc. has a 1-year low of $19.53 and a 1-year high of $28.82. The firm has a market cap of $2.66 billion, a P/E ratio of 99.00, a PEG ratio of 1.64 and a beta of 0.85.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.12. The business had revenue of $632.63 million during the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $0.24 EPS. Analysts expect that Privia Health Group, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at Privia Health Group

In other news, Director Matthew Shawn Morris sold 53,722 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $27.24, for a total value of $1,463,387.28. Following the transaction, the director directly owned 68,188 shares in the company, valued at $1,857,441.12. This trade represents a 44.07% 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, CFO David Mountcastle sold 21,275 shares of Privia Health Group stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $27.67, for a total value of $588,679.25. Following the completion of the transaction, the chief financial officer directly owned 164,853 shares in the company, valued at $4,561,482.51. This represents a 11.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 327,886 shares of company stock valued at $8,628,256. 5.70% of the stock is owned by company insiders.

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.

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