Privia Health Group, Inc. (NASDAQ:PRVA) Shares Purchased 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. raised its position in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 7.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 311,461 shares of the company's stock after purchasing an additional 21,452 shares during the period. Victory Capital Management Inc. owned approximately 0.26% of Privia Health Group worth $6,992,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in Privia Health Group by 2,393.4% during the first quarter. Bessemer Group Inc. now owns 2,269 shares of the company's stock valued at $51,000 after purchasing an additional 2,178 shares in the last quarter. Janney Montgomery Scott LLC raised its position in 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 purchasing an additional 2,413 shares in the last quarter. GAMMA Investing LLC raised its position in Privia Health Group by 113.1% during the first quarter. GAMMA Investing LLC now owns 2,866 shares of the company's stock valued at $64,000 after purchasing an additional 1,521 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Privia Health Group by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,416,235 shares of the company's stock worth $27,687,000 after buying an additional 138,747 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in shares of Privia Health Group in the first quarter worth about $387,000. Hedge funds and other institutional investors own 94.48% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PRVA shares. Truist Financial raised their target price on Privia Health Group from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, April 10th. JMP Securities reaffirmed a "market outperform" rating and set a $29.00 price objective on shares of Privia Health Group in a research report on Monday, April 28th. Evercore ISI cut their price objective on Privia Health Group from $30.00 to $28.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 9th. Robert W. Baird lifted their price objective on Privia Health Group from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 price objective on shares of Privia Health Group in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $28.38.

Privia Health Group Stock Performance

NASDAQ PRVA remained flat at $19.70 during trading hours on Friday. The company's stock had a trading volume of 784,411 shares, compared to its average volume of 968,080. The stock has a 50 day moving average price of $22.06 and a 200-day moving average price of $22.96. Privia Health Group, Inc. has a 52 week low of $16.47 and a 52 week high of $26.09. The stock has a market capitalization of $2.40 billion, a PE ratio of 164.21, a PEG ratio of 3.15 and a beta of 0.82.

Insiders Place Their Bets

In related news, CEO Parth Mehrotra sold 13,773 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $24.99, for a total value of $344,187.27. Following the completion of the sale, the chief executive officer owned 423,143 shares in the company, valued at approximately $10,574,343.57. The trade was a 3.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew Shawn Morris sold 10,309 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $23.33, for a total transaction of $240,508.97. Following the completion of the transaction, the director directly owned 59,792 shares of the company's stock, valued at $1,394,947.36. This trade represents a 14.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,949 shares of company stock valued at $1,100,368 over the last ninety days. 10.70% of the stock is owned by insiders.

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.