Wellington Management Group LLP Decreases Stock Position in Privia Health Group, Inc. (NASDAQ:PRVA)

Wellington Management Group LLP lessened its stake in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 46.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,895,165 shares of the company's stock after selling 1,618,423 shares during the quarter. Wellington Management Group LLP owned about 1.57% of Privia Health Group worth $37,050,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRVA. Barclays PLC increased its holdings in Privia Health Group by 240.3% in the third quarter. Barclays PLC now owns 224,018 shares of the company's stock valued at $4,079,000 after purchasing an additional 158,188 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Privia Health Group by 185.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,999 shares of the company's stock worth $98,000 after acquiring an additional 3,249 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Privia Health Group by 38.3% in the fourth quarter. Fifth Third Bancorp now owns 5,105 shares of the company's stock worth $100,000 after acquiring an additional 1,415 shares in the last quarter. KBC Group NV increased its holdings in shares of Privia Health Group by 48.1% in the fourth quarter. KBC Group NV now owns 5,012 shares of the company's stock worth $98,000 after acquiring an additional 1,627 shares in the last quarter. Finally, Choreo LLC increased its holdings in shares of Privia Health Group by 8.7% in the fourth quarter. Choreo LLC now owns 21,841 shares of the company's stock worth $425,000 after acquiring an additional 1,752 shares in the last quarter. Institutional investors own 94.48% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Truist Financial increased their price objective on Privia Health Group from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, April 10th. Piper Sandler lifted their price objective on Privia Health Group from $25.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Needham & Company LLC reissued a "buy" rating and set a $30.00 price target on shares of Privia Health Group in a report on Thursday, April 10th. Robert W. Baird boosted their price target on Privia Health Group from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Finally, Barclays boosted their price target on Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 27th. 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's stock. According to MarketBeat, Privia Health Group currently has an average rating of "Buy" and a consensus price target of $27.77.

Privia Health Group Price Performance

Shares of Privia Health Group stock traded up $0.07 during trading hours on Wednesday, reaching $23.04. The company had a trading volume of 200,856 shares, compared to its average volume of 739,113. Privia Health Group, Inc. has a one year low of $16.37 and a one year high of $26.09. The business has a fifty day simple moving average of $23.34 and a 200 day simple moving average of $22.74. The firm has a market cap of $2.81 billion, a PE ratio of 230.42, a price-to-earnings-growth ratio of 3.47 and a beta of 0.87.

Insider Activity at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 5,630 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.38, for a total transaction of $125,999.40. Following the sale, the chief financial officer now owns 179,676 shares in the company, valued at $4,021,148.88. This trade represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Parth Mehrotra sold 15,100 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $23.33, for a total value of $352,283.00. Following the sale, the chief executive officer now owns 454,281 shares in the company, valued at $10,598,375.73. The trade was a 3.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,579 shares of company stock valued at $1,226,367. Company insiders own 10.70% of the company's stock.

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.