Riverbridge Partners LLC Reduces Holdings in Privia Health Group, Inc. (NASDAQ:PRVA)

Riverbridge Partners LLC trimmed its holdings in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 5.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,517,670 shares of the company's stock after selling 306,788 shares during the quarter. Privia Health Group accounts for about 2.0% of Riverbridge Partners LLC's holdings, making the stock its 14th biggest holding. Riverbridge Partners LLC owned approximately 4.55% of Privia Health Group worth $123,872,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Durable Capital Partners LP raised its holdings in Privia Health Group by 3.4% during the 4th quarter. Durable Capital Partners LP now owns 11,487,843 shares of the company's stock valued at $224,587,000 after buying an additional 378,255 shares during the last quarter. Nuveen Asset Management LLC grew its position in Privia Health Group by 19.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,488,979 shares of the company's stock valued at $29,110,000 after purchasing an additional 246,393 shares during the last quarter. Loomis Sayles & Co. L P grew its position in Privia Health Group by 55.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,418,234 shares of the company's stock valued at $27,727,000 after purchasing an additional 503,002 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Privia Health Group by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,416,235 shares of the company's stock valued at $27,687,000 after purchasing an additional 138,747 shares during the last quarter. Finally, Northern Trust Corp grew its position in Privia Health Group by 14.2% during the 4th quarter. Northern Trust Corp now owns 1,392,641 shares of the company's stock valued at $27,226,000 after purchasing an additional 173,563 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Privia Health Group

In related news, CEO Parth Mehrotra sold 13,773 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $24.99, for a total value of $344,187.27. Following the completion of the transaction, the chief executive officer now directly owns 423,143 shares of the company's stock, valued at approximately $10,574,343.57. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Mountcastle sold 3,322 shares of the firm's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 172,909 shares of the company's stock, valued at approximately $4,320,995.91. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,579 shares of company stock valued at $1,226,367 in the last three months. 10.70% of the stock is currently owned by corporate insiders.

Privia Health Group Stock Performance

PRVA traded up $0.04 during trading on Friday, reaching $21.85. 1,676,523 shares of the company traded hands, compared to its average volume of 748,720. Privia Health Group, Inc. has a 12-month low of $16.37 and a 12-month high of $26.09. The firm has a fifty day simple moving average of $23.36 and a 200 day simple moving average of $22.83. The company has a market cap of $2.66 billion, a P/E ratio of 182.10, a PEG ratio of 3.49 and a beta of 0.83.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PRVA. Piper Sandler raised their price target on shares of Privia Health Group from $25.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Needham & Company LLC reiterated a "buy" rating and issued a $30.00 price target on shares of Privia Health Group in a research report on Thursday, April 10th. JPMorgan Chase & Co. raised their price objective on shares of Privia Health Group from $29.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. JMP Securities restated a "market outperform" rating and set a $29.00 target price on shares of Privia Health Group in a research note on Monday, April 28th. Finally, Canaccord Genuity Group lifted their target price on shares of Privia Health Group from $29.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $27.77.

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.