Van Berkom & Associates Inc. Makes New $45.21 Million Investment in Privia Health Group, Inc. (NASDAQ:PRVA)

Key Points

• Van Berkom & Associates Inc. acquired a new stake in Privia Health Group, purchasing 2,013,672 shares valued at approximately $45.2 million, representing about 1.66% of the company's stock.
• Several institutional investors increased their holdings in Privia Health Group during the fourth quarter, with Durable Capital Partners LP owning 11.5 million shares after a 3.4% increase.
• Analysts have shown positive sentiment towards Privia Health Group, with multiple firms raising their target prices and maintaining "buy" ratings, resulting in an average target price of $28.38.

Van Berkom & Associates Inc. bought a new position in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,013,672 shares of the company's stock, valued at approximately $45,207,000. Van Berkom & Associates Inc. owned approximately 1.66% of Privia Health Group at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PRVA. Loomis Sayles & Co. L P grew its position in Privia Health Group by 55.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,418,234 shares of the company's stock valued at $27,727,000 after buying an additional 503,002 shares during the period. Durable Capital Partners LP grew its position in Privia Health Group by 3.4% during the fourth 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 period. Royce & Associates LP bought a new position in Privia Health Group during the first quarter valued at about $6,818,000. BlackBarn Capital Partners LP grew its position in Privia Health Group by 65.8% during the fourth quarter. BlackBarn Capital Partners LP now owns 663,397 shares of the company's stock valued at $12,969,000 after buying an additional 263,397 shares during the period. Finally, Nuveen Asset Management LLC grew its position in Privia Health Group by 19.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,488,979 shares of the company's stock valued at $29,110,000 after buying an additional 246,393 shares during the period. Institutional investors own 94.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PRVA shares. JPMorgan Chase & Co. increased their price target 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. Barclays increased their target price on shares of 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. JMP Securities reiterated 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. Truist Financial increased their target price on shares of Privia Health Group from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, April 10th. Finally, Evercore ISI cut their target price on shares of Privia Health Group from $30.00 to $28.00 and set an "outperform" rating for the company in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $28.38.

Insider Buying and Selling

In related news, CFO David Mountcastle sold 3,322 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $24.99, for a total value of $83,016.78. Following the sale, the chief financial officer directly owned 172,909 shares of the company's stock, valued at $4,320,995.91. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Parth Mehrotra sold 13,773 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $24.99, for a total transaction of $344,187.27. Following the completion of the sale, the chief executive officer directly owned 423,143 shares in the company, valued at $10,574,343.57. This represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.70% of the stock is currently owned by company insiders.

Privia Health Group Trading Up 1.4%

Shares of PRVA stock traded up $0.27 during trading hours on Wednesday, reaching $19.75. The stock had a trading volume of 177,078 shares, compared to its average volume of 812,057. The stock's fifty day simple moving average is $21.86 and its 200 day simple moving average is $22.95. Privia Health Group, Inc. has a 12 month low of $16.47 and a 12 month high of $26.09. The firm has a market capitalization of $2.41 billion, a PE ratio of 164.38, a PEG ratio of 3.15 and a beta of 0.82.

Privia Health Group Company 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.