Wellington Management Group LLP Has $37.05 Million Stock Position in Privia Health Group, Inc. (NASDAQ:PRVA)

Wellington Management Group LLP decreased its position in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 46.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,895,165 shares of the company's stock after selling 1,618,423 shares during the period. Wellington Management Group LLP owned 1.57% of Privia Health Group worth $37,050,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PRVA. First Horizon Advisors Inc. boosted its holdings in Privia Health Group by 53.8% in the fourth quarter. First Horizon Advisors Inc. now owns 1,807 shares of the company's stock valued at $35,000 after acquiring an additional 632 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Privia Health Group by 7,833.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,380 shares of the company's stock valued at $47,000 after buying an additional 2,350 shares during the period. Quadrant Capital Group LLC lifted its stake in Privia Health Group by 11.8% in the fourth quarter. Quadrant Capital Group LLC now owns 4,855 shares of the company's stock valued at $95,000 after buying an additional 511 shares during the period. Nisa Investment Advisors LLC lifted its stake in Privia Health Group by 185.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,999 shares of the company's stock valued at $98,000 after buying an additional 3,249 shares during the period. Finally, KBC Group NV lifted its stake in Privia Health Group by 48.1% in the fourth quarter. KBC Group NV now owns 5,012 shares of the company's stock valued at $98,000 after buying an additional 1,627 shares during the period. Institutional investors own 94.48% of the company's stock.

Analyst Ratings Changes

PRVA has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Privia Health Group from $29.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. Piper Sandler increased their target price on Privia Health Group from $25.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. JMP Securities reissued a "market outperform" rating and issued a $29.00 target price on shares of Privia Health Group in a research note on Monday, April 28th. Needham & Company LLC reissued a "buy" rating and issued a $30.00 target price on shares of Privia Health Group in a research note on Thursday, April 10th. Finally, Barclays raised their price target on 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. One 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $27.77.

Privia Health Group Stock Performance

Privia Health Group stock traded up $0.07 during midday trading on Monday, reaching $22.83. The stock had a trading volume of 938,228 shares, compared to its average volume of 740,286. The firm's fifty day simple moving average is $23.34 and its 200-day simple moving average is $22.73. Privia Health Group, Inc. has a 1-year low of $16.37 and a 1-year high of $26.09. The stock has a market capitalization of $2.78 billion, a P/E ratio of 228.32, a price-to-earnings-growth ratio of 3.47 and a beta of 0.87.

Insider Activity at Privia Health Group

In related news, CFO David Mountcastle sold 5,630 shares of Privia Health Group stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.38, for a total value of $125,999.40. Following the sale, the chief financial officer now owns 179,676 shares of the company's stock, valued at approximately $4,021,148.88. This trade represents a 3.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $344,187.27. Following the completion of the transaction, the chief executive officer now owns 423,143 shares of the company's stock, valued at approximately $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. In the last quarter, insiders have sold 51,579 shares of company stock valued at $1,226,367. 10.70% of the stock is owned by insiders.

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.