Charles Schwab Investment Management Inc. Acquires 58,489 Shares of Privia Health Group, Inc. $PRVA

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Privia Health Group by 5.2%, now owning approximately 1,192,362 shares worth around $26.8 million.
• Institutional investors hold a significant portion of 94.48% of Privia Health Group's stock, reflecting strong investor confidence in the company.
• Privia Health Group reported a 23.4% increase in quarterly revenue year-over-year, amounting to $521.15 million, despite missing earnings expectations.

Charles Schwab Investment Management Inc. raised its holdings in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,192,362 shares of the company's stock after purchasing an additional 58,489 shares during the period. Charles Schwab Investment Management Inc. owned about 0.98% of Privia Health Group worth $26,769,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. US Bancorp DE boosted its stake in shares of Privia Health Group by 2.4% in the first quarter. US Bancorp DE now owns 18,487 shares of the company's stock worth $415,000 after acquiring an additional 429 shares during the last quarter. Natixis Advisors LLC grew its holdings in Privia Health Group by 15.2% during the 1st quarter. Natixis Advisors LLC now owns 17,751 shares of the company's stock valued at $399,000 after buying an additional 2,342 shares during the last quarter. Vestcor Inc acquired a new stake in Privia Health Group during the 1st quarter valued at $76,000. XTX Topco Ltd boosted its holdings in shares of Privia Health Group by 57.5% during the first quarter. XTX Topco Ltd now owns 52,466 shares of the company's stock worth $1,178,000 after purchasing an additional 19,163 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Privia Health Group by 19.3% in the 1st quarter. Federated Hermes Inc. now owns 29,728 shares of the company's stock worth $667,000 after buying an additional 4,804 shares during the period. 94.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PRVA. JPMorgan Chase & Co. upped their target price on Privia Health Group from $29.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Evercore ISI lowered their price objective on shares of Privia Health Group from $30.00 to $28.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 9th. Barclays increased their price objective on Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 27th. Piper Sandler cut their price target on Privia Health Group from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Monday, August 11th. Finally, Zacks Research upgraded Privia Health Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.00.

Privia Health Group Trading Down 2.3%

NASDAQ:PRVA traded down $0.5150 during trading hours on Monday, hitting $21.4750. 137,337 shares of the company were exchanged, compared to its average volume of 840,450. The company has a fifty day simple moving average of $20.94 and a 200 day simple moving average of $22.70. Privia Health Group, Inc. has a one year low of $16.47 and a one year high of $26.09. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 195.61, a price-to-earnings-growth ratio of 3.19 and a beta of 0.80.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). The firm had revenue of $521.15 million during the quarter, compared to analyst estimates of $466.97 million. Privia Health Group had a net margin of 0.78% and a return on equity of 2.13%. The business's quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 earnings per share. Privia Health Group has set its FY 2025 guidance at EPS. Equities research analysts predict that Privia Health Group, Inc. will post 0.14 earnings per share for the current fiscal year.

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.