Privia Health Group, Inc. $PRVA Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its holdings in Privia Health Group by 1.3% during Q1, now owning approximately 9.29% of the company, which is valued at around $253 million.
• Analysts have varying target prices for Privia Health, with JPMorgan Chase raising their target to $32.00, while Evercore ISI decreased it to $28.00.
• Privia Health reported a revenue of $521.15 million for the latest quarter, exceeding analysts' expectations, but missed EPS estimates by $0.03, showing a year-over-year revenue increase of 23.4%.

Vanguard Group Inc. lowered its position in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,272,558 shares of the company's stock after selling 149,152 shares during the quarter. Vanguard Group Inc. owned about 9.29% of Privia Health Group worth $253,069,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. LPL Financial LLC acquired a new stake in shares of Privia Health Group during the 4th quarter worth about $199,000. Wells Fargo & Company MN boosted its stake in Privia Health Group by 50.6% during the fourth quarter. Wells Fargo & Company MN now owns 48,670 shares of the company's stock worth $951,000 after buying an additional 16,357 shares during the period. Bank of Montreal Can raised its stake in shares of Privia Health Group by 24.6% in the 4th quarter. Bank of Montreal Can now owns 24,140 shares of the company's stock valued at $472,000 after acquiring an additional 4,764 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of Privia Health Group by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,673 shares of the company's stock worth $209,000 after acquiring an additional 678 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Privia Health Group by 111.8% during the 4th quarter. Marshall Wace LLP now owns 338,259 shares of the company's stock worth $6,613,000 after purchasing an additional 178,548 shares during the period. Institutional investors and hedge funds own 94.48% of the company's stock.

Wall Street Analyst Weigh In

PRVA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Privia Health Group from $29.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. JMP Securities reissued a "market outperform" rating and issued a $29.00 price objective on shares of Privia Health Group in a research note on Monday, April 28th. Barclays upped 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 note on Tuesday, May 27th. Zacks Research upgraded shares of Privia Health Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Finally, Piper Sandler dropped their price objective on shares of 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 assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Privia Health Group currently has a consensus rating of "Moderate Buy" and an average price target of $28.00.

Privia Health Group Trading Up 2.5%

Shares of Privia Health Group stock traded up $0.54 during trading hours on Friday, hitting $21.87. 368,935 shares of the company were exchanged, compared to its average volume of 841,616. The business has a 50-day moving average of $20.95 and a 200-day moving average of $22.71. Privia Health Group, Inc. has a 1 year low of $16.47 and a 1 year high of $26.09. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 198.67, a P/E/G ratio of 3.07 and a beta of 0.80.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). Privia Health Group had a return on equity of 2.13% and a net margin of 0.78%.The business had revenue of $521.15 million during the quarter, compared to analysts' expectations of $466.97 million. During the same quarter in the previous year, the company posted $0.19 EPS. The company's revenue 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, research analysts anticipate that Privia Health Group, Inc. will post 0.14 earnings per share for the current fiscal year.

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.