UBS Group AG Sells 49,351 Shares of Privia Health Group, Inc. $PRVA

Key Points

• UBS Group AG reduced its stake in Privia Health Group by 15.7% in the fourth quarter, selling 49,351 shares and leaving it with 265,251 shares worth about $6.29 million.
• Privia Health Group reported better-than-expected quarterly results, posting EPS of $0.19 versus the $0.08 consensus and revenue of $603.85 million, up 25.8% year over year.
• Company insiders recently sold shares, including CEO Parth Mehrotra and CFO David Mountcastle, while analysts remain broadly constructive with a Moderate Buy consensus and a target price of $31.23.

UBS Group AG decreased its position in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 15.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 265,251 shares of the company's stock after selling 49,351 shares during the quarter. UBS Group AG owned about 0.22% of Privia Health Group worth $6,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Privia Health Group by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company's stock worth $301,263,000 after acquiring an additional 607,447 shares during the last quarter. Durable Capital Partners LP boosted its stake in Privia Health Group by 1.8% during the 3rd quarter. Durable Capital Partners LP now owns 11,691,685 shares of the company's stock worth $291,123,000 after acquiring an additional 203,842 shares during the last quarter. State Street Corp boosted its stake in Privia Health Group by 1.5% during the 2nd quarter. State Street Corp now owns 4,171,069 shares of the company's stock worth $95,935,000 after acquiring an additional 61,853 shares during the last quarter. Van Berkom & Associates Inc. boosted its stake in Privia Health Group by 30.1% during the 3rd quarter. Van Berkom & Associates Inc. now owns 3,774,565 shares of the company's stock worth $93,987,000 after acquiring an additional 873,344 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Privia Health Group by 2.7% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,165,355 shares of the company's stock worth $53,917,000 after buying an additional 55,944 shares during the period. Institutional investors own 94.48% of the company's stock.

Privia Health Group Stock Performance

Shares of PRVA stock opened at $23.29 on Wednesday. Privia Health Group, Inc. has a 52 week low of $18.77 and a 52 week high of $26.51. The company has a market capitalization of $2.93 billion, a P/E ratio of 145.57, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The company's 50 day moving average price is $22.61 and its two-hundred day moving average price is $23.18.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.11. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. The company had revenue of $603.85 million for the quarter, compared to the consensus estimate of $560.99 million. During the same period last year, the company earned $0.22 earnings per share. The firm's revenue was up 25.8% compared to the same quarter last year. Analysts forecast that Privia Health Group, Inc. will post 0.35 earnings per share for the current year.

Insider Activity

In other news, CEO Parth Mehrotra sold 15,647 shares of Privia Health Group stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $22.64, for a total value of $354,248.08. Following the sale, the chief executive officer directly owned 434,357 shares in the company, valued at $9,833,842.48. This trade represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO David Mountcastle sold 3,385 shares of Privia Health Group stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $22.60, for a total transaction of $76,501.00. Following the completion of the sale, the chief financial officer owned 211,462 shares in the company, valued at $4,779,041.20. This trade represents a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 398,726 shares of company stock worth $9,107,491 over the last ninety days. Insiders own 5.70% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on PRVA shares. Weiss Ratings downgraded shares of Privia Health Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, May 8th. Jefferies Financial Group restated a "buy" rating and set a $32.00 target price on shares of Privia Health Group in a report on Thursday, February 26th. Canaccord Genuity Group dropped their target price on shares of Privia Health Group from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Piper Sandler restated an "overweight" rating and set a $36.00 target price on shares of Privia Health Group in a report on Thursday, February 26th. Finally, Barclays raised their target price on shares of Privia Health Group from $23.00 to $25.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 25th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Privia Health Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.23.

About Privia Health Group

Privia Health Group NASDAQ: PRVA is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.

Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.

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