Riverbridge Partners LLC Sells 306,788 Shares of Privia Health Group, Inc. (NASDAQ:PRVA)

Riverbridge Partners LLC lowered its stake in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 5.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,517,670 shares of the company's stock after selling 306,788 shares during the quarter. Privia Health Group makes up approximately 2.0% of Riverbridge Partners LLC's investment portfolio, making the stock its 14th largest position. Riverbridge Partners LLC owned 4.55% of Privia Health Group worth $123,872,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. First Horizon Advisors Inc. increased its stake in shares of Privia Health Group by 53.8% in the fourth quarter. First Horizon Advisors Inc. now owns 1,807 shares of the company's stock valued at $35,000 after buying an additional 632 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Privia Health Group by 7,833.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,380 shares of the company's stock valued at $47,000 after buying an additional 2,350 shares during the period. GAMMA Investing LLC increased its position in Privia Health Group by 113.1% during the 1st quarter. GAMMA Investing LLC now owns 2,866 shares of the company's stock valued at $64,000 after purchasing an additional 1,521 shares during the period. Financial Management Professionals Inc. increased its position in Privia Health Group by 28.7% during the 1st quarter. Financial Management Professionals Inc. now owns 3,383 shares of the company's stock valued at $76,000 after purchasing an additional 754 shares during the period. Finally, Quadrant Capital Group LLC increased its position 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 valued at $95,000 after purchasing an additional 511 shares during the period. Institutional investors own 94.48% of the company's stock.

Privia Health Group Stock Performance

Shares of Privia Health Group stock traded down $0.24 on Monday, reaching $21.61. 938,090 shares of the company's stock were exchanged, compared to its average volume of 746,287. The company has a market capitalization of $2.63 billion, a P/E ratio of 180.10, a price-to-earnings-growth ratio of 3.50 and a beta of 0.83. Privia Health Group, Inc. has a 52 week low of $16.37 and a 52 week high of $26.09. The firm's 50-day moving average is $23.31 and its two-hundred day moving average is $22.85.

Insiders Place Their Bets

In related news, CEO Parth Mehrotra sold 13,773 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $24.99, for a total value of $344,187.27. Following the transaction, the chief executive officer now directly owns 423,143 shares in the company, valued at $10,574,343.57. This trade represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Shawn Morris sold 10,309 shares of the stock in a transaction 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 completion of the transaction, the director now owns 59,792 shares in the company, valued at approximately $1,394,947.36. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,579 shares of company stock worth $1,226,367. Corporate insiders own 10.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Robert W. Baird increased their target price on shares of Privia Health Group from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Barclays increased their target price on shares of 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. JMP Securities reissued 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. Canaccord Genuity Group increased 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 report on Friday, February 28th. Finally, JPMorgan Chase & Co. increased their target price 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. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average 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.