Privia Health Group, Inc. (NASDAQ:PRVA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,955,615 shares of the company's stock after selling 122,333 shares during the quarter. Principal Financial Group Inc. owned 2.44% of Privia Health Group worth $66,354,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas bought a new position in Privia Health Group during the first quarter valued at about $387,000. Peregrine Capital Management LLC boosted its holdings in Privia Health Group by 2.9% in the 1st quarter. Peregrine Capital Management LLC now owns 330,130 shares of the company's stock valued at $7,411,000 after purchasing an additional 9,362 shares during the period. Bessemer Group Inc. raised its holdings in shares of Privia Health Group by 2,393.4% during the 1st quarter. Bessemer Group Inc. now owns 2,269 shares of the company's stock worth $51,000 after buying an additional 2,178 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Privia Health Group by 9.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 261,918 shares of the company's stock valued at $5,880,000 after buying an additional 21,590 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in Privia Health Group by 4.6% in the first quarter. Janney Montgomery Scott LLC now owns 55,371 shares of the company's stock valued at $1,243,000 after acquiring an additional 2,413 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Privia Health Group Stock Down 2.0%

Shares of NASDAQ:PRVA traded down $0.44 during midday trading on Wednesday, hitting $21.08. The stock had a trading volume of 388,918 shares, compared to its average volume of 764,267. Privia Health Group, Inc. has a 12 month low of $16.47 and a 12 month high of $26.09. The company has a market cap of $2.57 billion, a P/E ratio of 175.68, a PEG ratio of 3.42 and a beta of 0.82. The business's 50-day simple moving average is $23.01 and its 200-day simple moving average is $22.92.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Robert W. Baird lifted their target price on shares of Privia Health Group from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Evercore ISI lowered their price objective on shares of Privia Health Group from $30.00 to $28.00 and set an "outperform" rating for the company in a research note on Wednesday. Truist Financial lifted their target price on shares of Privia Health Group from $27.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, April 10th. Needham & Company LLC reissued a "buy" rating and issued a $30.00 target price on shares of Privia Health Group in a report on Thursday, April 10th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $29.00 target price on shares of Privia Health Group in a research report on Monday, April 28th. One 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $28.38.

Insider Activity at Privia Health Group

In other Privia Health Group news, Director Matthew Shawn Morris sold 10,309 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $23.33, for a total transaction of $240,508.97. Following the completion of the transaction, the director owned 59,792 shares of the company's stock, valued at approximately $1,394,947.36. This trade represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Mountcastle sold 3,322 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $24.99, for a total transaction of $83,016.78. Following the sale, the chief financial officer directly owned 172,909 shares of the company's stock, valued at $4,320,995.91. This trade represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,949 shares of company stock valued at $1,100,368 in the last three months. Corporate insiders own 10.70% of the company's stock.

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.