OneDigital Investment Advisors LLC Purchases New Stake in Privia Health Group, Inc. $PRVA

Key Points

• OneDigital Investment Advisors purchased 258,561 Privia Health shares worth approximately $6.65 million, acquiring a roughly 0.21% stake. Institutional investors collectively own 94.48% of the company.
• Privia Health shares opened at $22.00, below their 50-day moving average of $24.71 and 200-day average of $23.28. The stock’s 52-week range is $19.53 to $28.82.
• Analysts maintain a generally positive outlook, with an overall “Moderate Buy” rating and an average price target of $31.00. However, insiders sold 327,886 shares worth $8.63 million over the past 90 days, including transactions by the company’s CFO and a director.

OneDigital Investment Advisors LLC purchased a new stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 258,561 shares of the company's stock, valued at approximately $6,653,000. OneDigital Investment Advisors LLC owned approximately 0.21% of Privia Health Group as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PRVA. Royal Bank of Canada boosted its holdings in shares of Privia Health Group by 63.5% in the 1st quarter. Royal Bank of Canada now owns 245,633 shares of the company's stock valued at $5,514,000 after buying an additional 95,371 shares during the period. AQR Capital Management LLC raised its stake in Privia Health Group by 24.7% during the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company's stock worth $916,000 after acquiring an additional 8,068 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Privia Health Group by 3.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company's stock worth $2,666,000 after acquiring an additional 3,714 shares during the period. Intech Investment Management LLC lifted its holdings in Privia Health Group by 55.1% in the first quarter. Intech Investment Management LLC now owns 56,553 shares of the company's stock worth $1,270,000 after acquiring an additional 20,082 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Privia Health Group in the first quarter valued at approximately $154,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Price Performance

Shares of PRVA opened at $22.00 on Monday. The company has a market capitalization of $2.81 billion, a PE ratio of 104.77, a price-to-earnings-growth ratio of 1.77 and a beta of 0.85. Privia Health Group, Inc. has a one year low of $19.53 and a one year high of $28.82. The company's fifty day moving average price is $24.71 and its 200 day moving average price is $23.28.

Insider Buying and Selling at Privia Health Group

In other news, Director Matthew Shawn Morris sold 88,110 shares of Privia Health Group stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $25.33, for a total transaction of $2,231,826.30. Following the completion of the sale, the director owned 76,651 shares in the company, valued at $1,941,569.83. The trade was a 53.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction, the chief financial officer owned 186,728 shares of the company's stock, valued at approximately $5,135,020. This represents a 11.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 327,886 shares of company stock worth $8,628,256. Company insiders own 5.70% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup restated a "buy" rating on shares of Privia Health Group in a research report on Thursday, July 23rd. Weiss Ratings upgraded Privia Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 2nd. Barclays decreased their price objective on Privia Health Group from $25.00 to $24.00 and set an "equal weight" rating for the company in a report on Tuesday, May 26th. Zacks Research raised Privia Health Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group set a $32.00 price objective on shares of Privia Health Group in a report on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.00.

Privia Health Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source