Trust Point Inc. Has $596,000 Stock Position in Privia Health Group, Inc. $PRVA

Key Points

• Trust Point Inc. reduced its stake in Privia Health Group by 33.4%, owning 25,901 shares after selling 13,015 shares in the 2nd quarter, with its holdings valued at approximately $596,000.
• Other institutional investors, including CWM LLC and Bessemer Group Inc., have significantly increased their positions in Privia Health Group, reflecting a shift in market interest.
• Analysts have varied opinions on Privia, with price targets adjusted by firms such as Piper Sandler and JPMorgan Chase, while maintaining overall ratings of "Moderate Buy."

Trust Point Inc. lessened its position in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 33.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 25,901 shares of the company's stock after selling 13,015 shares during the period. Trust Point Inc.'s holdings in Privia Health Group were worth $596,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in Privia Health Group by 2,393.4% in 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. Janney Montgomery Scott LLC increased its holdings in shares of Privia Health Group by 4.6% during 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 in the last quarter. GAMMA Investing LLC grew its position in shares of 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 acquiring an additional 1,521 shares during the period. Teacher Retirement System of Texas bought a new stake in Privia Health Group during the first quarter valued at approximately $387,000. Finally, Strs Ohio bought a new position in shares of Privia Health Group during the first quarter valued at approximately $849,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Stock Up 2.1%

NASDAQ:PRVA traded up $0.49 during trading hours on Tuesday, hitting $23.39. 78,787 shares of the stock traded hands, compared to its average volume of 838,505. The stock has a 50 day moving average price of $21.28 and a 200 day moving average price of $22.39. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 213.06, a price-to-earnings-growth ratio of 3.24 and a beta of 0.82. Privia Health Group, Inc. has a 1 year low of $16.47 and a 1 year high of $26.09.

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 analysts' consensus estimates of $0.05 by ($0.03). The business had revenue of $521.15 million during the quarter, compared to analyst estimates of $466.97 million. Privia Health Group had a return on equity of 2.13% and a net margin of 0.78%.The business's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. Privia Health Group has set its FY 2025 guidance at EPS. Equities analysts forecast that Privia Health Group, Inc. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PRVA has been the subject of several analyst reports. Stephens restated an "overweight" rating and issued a $32.00 target price on shares of Privia Health Group in a report on Thursday, September 4th. Evercore ISI lowered their target price on Privia Health Group from $30.00 to $28.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 9th. Citigroup reiterated an "outperform" rating on shares of Privia Health Group in a research note on Friday, August 29th. JMP Securities upped their target price on Privia Health Group from $29.00 to $30.00 and gave the stock a "market outperform" rating in a research report on Friday, August 29th. Finally, Zacks Research upgraded shares of Privia Health Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $28.58.

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.