Privia Health Group, Inc. (NASDAQ:PRVA) Stake Lifted by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in Privia Health Group by 7.4%, now holding approximately 0.26% of the company valued at about $6.99 million.
• Insider transactions included CEO Parth Mehrotra selling 13,773 shares for roughly $344,187, reducing his ownership by 3.15%.
• Analysts have set a consensus price target of $28.38 for Privia Health Group, with several recent upgrades from firms like JPMorgan and Robert W. Baird.

Victory Capital Management Inc. grew its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 7.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 311,461 shares of the company's stock after buying an additional 21,452 shares during the period. Victory Capital Management Inc. owned 0.26% of Privia Health Group worth $6,992,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Bessemer Group Inc. lifted its holdings in shares of Privia Health Group by 2,393.4% during the 1st quarter. Bessemer Group Inc. now owns 2,269 shares of the company's stock valued at $51,000 after acquiring an additional 2,178 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Privia Health Group by 4.6% during the 1st 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 lifted its holdings 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Privia Health Group by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,416,235 shares of the company's stock valued at $27,687,000 after acquiring an additional 138,747 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Privia Health Group during the 1st quarter valued at $387,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 3,322 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $24.99, for a total value of $83,016.78. Following the completion of the transaction, the chief financial officer owned 172,909 shares in the company, valued at approximately $4,320,995.91. This represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Parth Mehrotra sold 13,773 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $24.99, for a total transaction of $344,187.27. Following the completion of the transaction, the chief executive officer owned 423,143 shares of the company's stock, valued at approximately $10,574,343.57. This trade represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,949 shares of company stock valued at $1,100,368 in the last quarter. Insiders own 10.70% of the company's stock.

Privia Health Group Price Performance

Shares of NASDAQ:PRVA traded up $0.05 during trading on Tuesday, reaching $19.75. 87,702 shares of the company's stock traded hands, compared to its average volume of 813,196. Privia Health Group, Inc. has a 12 month low of $16.47 and a 12 month high of $26.09. The company has a 50 day moving average of $21.96 and a 200-day moving average of $22.97. The stock has a market capitalization of $2.41 billion, a P/E ratio of 165.18, a price-to-earnings-growth ratio of 3.15 and a beta of 0.82.

Wall Street Analyst Weigh In

PRVA has been the topic of several recent research reports. Truist Financial lifted their target price on shares of Privia Health Group from $27.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, April 10th. Robert W. Baird boosted their price objective on shares of Privia Health Group from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Barclays boosted their price objective on shares of Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 27th. Evercore ISI cut their price objective on shares of Privia Health Group from $30.00 to $28.00 and set an "outperform" rating on the stock in a report on Wednesday, July 9th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $29.00 price objective on shares of Privia Health Group in a report on Monday, April 28th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Privia Health Group presently has a consensus rating of "Buy" and a consensus price target of $28.38.

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.