Hsbc Holdings PLC Cuts Position in Privia Health Group, Inc. (NASDAQ:PRVA)

Hsbc Holdings PLC reduced its stake in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 33.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,209 shares of the company's stock after selling 21,858 shares during the quarter. Hsbc Holdings PLC's holdings in Privia Health Group were worth $844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PRVA. Barclays PLC lifted its holdings in shares of Privia Health Group by 240.3% during the 3rd quarter. Barclays PLC now owns 224,018 shares of the company's stock worth $4,079,000 after acquiring an additional 158,188 shares during the last quarter. Virtu Financial LLC purchased a new stake in Privia Health Group during the third quarter valued at about $263,000. Franklin Resources Inc. lifted its stake in Privia Health Group by 2.2% during the third quarter. Franklin Resources Inc. now owns 1,300,240 shares of the company's stock worth $23,092,000 after purchasing an additional 28,480 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Privia Health Group by 8.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 188,384 shares of the company's stock worth $3,430,000 after purchasing an additional 14,641 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Privia Health Group by 33.1% during the 4th quarter. Nordea Investment Management AB now owns 349,773 shares of the company's stock valued at $6,953,000 after purchasing an additional 86,910 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.

Privia Health Group Stock Performance

Shares of Privia Health Group stock traded down $0.05 during midday trading on Friday, reaching $25.02. 1,314,984 shares of the company's stock traded hands, compared to its average volume of 766,349. The stock has a 50 day moving average of $23.38 and a 200-day moving average of $22.31. Privia Health Group, Inc. has a 12 month low of $15.92 and a 12 month high of $26.09. The company has a market cap of $3.04 billion, a PE ratio of 250.23, a price-to-earnings-growth ratio of 3.47 and a beta of 0.87.

Wall Street Analyst Weigh In

PRVA has been the subject of several research reports. Canaccord Genuity Group upped their target price on Privia Health Group from $29.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 target price on shares of Privia Health Group in a report on Thursday, April 10th. JMP Securities reissued a "market outperform" rating and issued a $29.00 price target on shares of Privia Health Group in a research note on Monday, April 28th. Piper Sandler raised their price objective 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. Finally, Truist Financial boosted their target price on Privia Health Group from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $27.38.

Insiders Place Their Bets

In related news, CEO Parth Mehrotra sold 15,100 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $23.33, for a total transaction of $352,283.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the chief financial officer now owns 179,676 shares of the company's stock, valued at $4,021,148.88. This trade represents a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,484 shares of company stock worth $799,163. 10.70% of the stock is currently owned by corporate insiders.

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.