Durable Capital Partners LP Purchases 378,255 Shares of Privia Health Group, Inc. (NASDAQ:PRVA)

Durable Capital Partners LP raised its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,487,843 shares of the company's stock after purchasing an additional 378,255 shares during the quarter. Privia Health Group accounts for 1.8% of Durable Capital Partners LP's portfolio, making the stock its 21st largest position. Durable Capital Partners LP owned 9.57% of Privia Health Group worth $224,587,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of Privia Health Group by 5.1% during the 4th quarter. Bank of America Corp DE now owns 1,021,763 shares of the company's stock valued at $19,975,000 after acquiring an additional 49,389 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Privia Health Group during the fourth quarter worth $4,321,000. Algert Global LLC lifted its position in shares of Privia Health Group by 639.1% in the 4th quarter. Algert Global LLC now owns 108,048 shares of the company's stock worth $2,112,000 after buying an additional 93,429 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of Privia Health Group by 20.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 300,000 shares of the company's stock valued at $5,865,000 after buying an additional 50,000 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Privia Health Group by 14.2% in the 4th quarter. Northern Trust Corp now owns 1,392,641 shares of the company's stock valued at $27,226,000 after buying an additional 173,563 shares during the period. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on PRVA shares. Barclays raised their target price on shares of Privia Health Group from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Thursday, April 10th. Robert W. Baird raised their target price on Privia Health Group from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Canaccord Genuity Group upped their price target on shares of Privia Health Group from $29.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. JMP Securities reiterated a "market outperform" rating and issued a $29.00 price objective on shares of Privia Health Group in a research report on Monday, April 28th. Finally, Piper Sandler lifted their price target on Privia Health Group from $25.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $27.38.

Privia Health Group Stock Performance

Shares of NASDAQ:PRVA traded down $0.11 during trading hours on Monday, hitting $24.91. 317,766 shares of the company's stock traded hands, compared to its average volume of 764,627. The company's fifty day simple moving average is $23.38 and its two-hundred day simple moving average is $22.34. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 249.02, a price-to-earnings-growth ratio of 3.47 and a beta of 0.87. Privia Health Group, Inc. has a 52 week low of $15.92 and a 52 week high of $26.09.

Insider Buying and Selling

In other news, CFO David Mountcastle sold 5,630 shares of Privia Health Group stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $22.38, for a total value of $125,999.40. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew Shawn Morris sold 10,309 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $23.33, for a total transaction of $240,508.97. Following the completion of the sale, the director now owns 59,792 shares of the company's stock, valued at approximately $1,394,947.36. This trade represents a 14.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,484 shares of company stock worth $799,163. Corporate insiders own 10.70% of the company's stock.

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.