T. Rowe Price Investment Management Inc. Sells 3,555,698 Shares of Privia Health Group, Inc. $PRVA

Key Points

• T. Rowe Price Investment Management Inc. has significantly reduced its holdings in Privia Health Group by 94.2%, selling over 3.5 million shares and maintaining a position of just 219,058 shares.
• Privia Health's recent earnings report showed an EPS of $0.02, missing estimates, but revenue increased 23.4% year-over-year to $521.15 million.
• Multiple analysts have adjusted their price targets for Privia Health, with an average consensus target of $28.00, while most maintain a "Buy" or "Overweight" rating.

T. Rowe Price Investment Management Inc. reduced its stake in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 94.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 219,058 shares of the company's stock after selling 3,555,698 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.18% of Privia Health Group worth $4,918,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PRVA. Van Berkom & Associates Inc. purchased a new position in Privia Health Group in the 1st quarter worth approximately $45,207,000. Nuveen LLC bought a new stake in shares of Privia Health Group in the 1st quarter worth approximately $26,899,000. Durable Capital Partners LP grew its position in shares of Privia Health Group by 3.4% in the 4th quarter. Durable Capital Partners LP now owns 11,487,843 shares of the company's stock worth $224,587,000 after buying an additional 378,255 shares during the last quarter. Royce & Associates LP bought a new stake in shares of Privia Health Group in the 1st quarter worth approximately $6,818,000. Finally, Nuveen Asset Management LLC grew its position in shares of Privia Health Group by 19.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,488,979 shares of the company's stock worth $29,110,000 after buying an additional 246,393 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Privia Health Group Stock Performance

Shares of NASDAQ PRVA traded up $0.06 during mid-day trading on Thursday, hitting $21.81. 502,517 shares of the stock traded hands, compared to its average volume of 835,898. Privia Health Group, Inc. has a 52 week low of $16.47 and a 52 week high of $26.09. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 198.29, a PEG ratio of 3.10 and a beta of 0.80. The stock has a fifty day moving average price of $20.89 and a 200-day moving average price of $22.68.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). Privia Health Group had a net margin of 0.78% and a return on equity of 2.13%. The firm had revenue of $521.15 million for the quarter, compared to the consensus estimate of $466.97 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The company's revenue for the quarter was up 23.4% compared to the same quarter last year. Privia Health Group has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Privia Health Group, Inc. will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PRVA. Zacks Research upgraded Privia Health Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. Barclays lifted their price objective on Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. lifted their price objective on Privia Health Group from $29.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Evercore ISI cut their price objective on Privia Health Group from $30.00 to $28.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 9th. Finally, Piper Sandler cut their price objective on Privia Health Group from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

About Privia Health Group

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.