Bank of New York Mellon Corp Sells 148,646 Shares of Privia Health Group, Inc. (NASDAQ:PRVA)

Bank of New York Mellon Corp reduced its position in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 6.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,211,204 shares of the company's stock after selling 148,646 shares during the quarter. Bank of New York Mellon Corp owned about 1.82% of Privia Health Group worth $49,642,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its holdings in Privia Health Group by 11.8% during the 4th quarter. Quadrant Capital Group LLC now owns 4,855 shares of the company's stock worth $95,000 after purchasing an additional 511 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of Privia Health Group by 3.6% during the 1st quarter. Park Avenue Securities LLC now owns 15,229 shares of the company's stock worth $342,000 after buying an additional 532 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Privia Health Group by 8.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,169 shares of the company's stock worth $140,000 after buying an additional 533 shares during the period. Summit Investment Advisors Inc. grew its position in shares of Privia Health Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,673 shares of the company's stock worth $209,000 after buying an additional 678 shares during the period. Finally, Financial Management Professionals Inc. grew its position in shares of Privia Health Group by 28.7% during the 1st quarter. Financial Management Professionals Inc. now owns 3,383 shares of the company's stock worth $76,000 after buying an additional 754 shares during the period. 94.48% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Privia Health Group news, CEO Parth Mehrotra sold 15,100 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $23.33, for a total transaction of $352,283.00. Following the completion of the transaction, the chief executive officer owned 454,281 shares of the company's stock, valued at $10,598,375.73. This represents a 3.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew Shawn Morris sold 10,309 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $23.33, for a total value of $240,508.97. Following the sale, the director owned 59,792 shares in the company, valued at approximately $1,394,947.36. This represents a 14.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,949 shares of company stock valued at $1,100,368 in the last quarter. 10.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $30.00 target price on shares of Privia Health Group in a research report on Thursday, April 10th. Truist Financial boosted their target price on Privia Health Group from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, April 10th. Robert W. Baird boosted their target price on Privia Health Group from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Barclays boosted their price objective on Privia Health Group from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Privia Health Group from $29.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $28.38.

Privia Health Group Price Performance

NASDAQ:PRVA traded up $0.13 during trading hours on Thursday, reaching $20.71. 930,557 shares of the stock were exchanged, compared to its average volume of 768,735. Privia Health Group, Inc. has a twelve month low of $16.47 and a twelve month high of $26.09. The firm has a 50 day moving average of $22.64 and a 200 day moving average of $22.95. The stock has a market cap of $2.52 billion, a PE ratio of 172.60, a PEG ratio of 3.29 and a beta of 0.82.

Privia Health Group 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.