Privia Health Group, Inc. $PRVA Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its holdings in Privia Health Group, Inc. by 1.5%, now owning approximately 1.54% of the company, valued at $41.92 million.
• Institutional investors now own 94.48% of Privia Health Group, highlighting significant institutional interest.
• Privia Health Group reported a 23.4% increase in quarterly revenue, but earnings per share fell short of analyst expectations, resulting in an EPS of $0.02.

Wellington Management Group LLP lowered its stake in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,867,244 shares of the company's stock after selling 27,921 shares during the period. Wellington Management Group LLP owned approximately 1.54% of Privia Health Group worth $41,920,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Durable Capital Partners LP grew its holdings in Privia Health Group by 3.4% during the fourth quarter. Durable Capital Partners LP now owns 11,487,843 shares of the company's stock worth $224,587,000 after acquiring an additional 378,255 shares during the period. Van Berkom & Associates Inc. purchased a new stake in shares of Privia Health Group in the first quarter valued at $45,207,000. Nuveen Asset Management LLC lifted its position in shares of Privia Health Group by 19.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,488,979 shares of the company's stock valued at $29,110,000 after acquiring an additional 246,393 shares in the last quarter. Northern Trust Corp lifted its position in shares of Privia Health Group by 2.2% in the first quarter. Northern Trust Corp now owns 1,423,865 shares of the company's stock valued at $31,966,000 after acquiring an additional 31,224 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Privia Health Group by 10.9% during 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. Institutional investors and hedge funds own 94.48% of the company's stock.

Privia Health Group Price Performance

NASDAQ:PRVA traded up $0.03 during midday trading on Thursday, reaching $21.78. 238,204 shares of the company traded hands, compared to its average volume of 834,159. Privia Health Group, Inc. has a twelve month low of $16.47 and a twelve month high of $26.09. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 198.15, a price-to-earnings-growth ratio of 3.10 and a beta of 0.80. The company has a fifty day moving average price of $20.89 and a 200 day moving average price of $22.68.

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 analysts' consensus estimates of $0.05 by ($0.03). Privia Health Group had a net margin of 0.78% and a return on equity of 2.13%. The company had revenue of $521.15 million for the quarter, compared to analyst estimates of $466.97 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The company's revenue for the quarter was up 23.4% compared to the same quarter last year. Privia Health Group has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Privia Health Group, Inc. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on PRVA. JPMorgan Chase & Co. increased their target price on Privia Health Group from $29.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Piper Sandler dropped their target price on Privia Health Group from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Monday, August 11th. Barclays lifted their price objective 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. Zacks Research upgraded Privia Health Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, Evercore ISI dropped their price objective on Privia Health Group from $30.00 to $28.00 and set an "outperform" rating on the stock in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $28.00.

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.