Privia Health Group, Inc. (NASDAQ:PRVA) Shares Purchased by Durable Capital Partners LP

Durable Capital Partners LP raised its stake in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 3.4% in the 4th 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 buying an additional 378,255 shares during the quarter. Privia Health Group makes up approximately 1.8% of Durable Capital Partners LP's investment portfolio, making the stock its 21st largest position. Durable Capital Partners LP owned about 9.57% of Privia Health Group worth $224,587,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rhumbline Advisers increased its position in Privia Health Group by 1.3% during the fourth quarter. Rhumbline Advisers now owns 287,200 shares of the company's stock worth $5,615,000 after purchasing an additional 3,658 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Privia Health Group by 33.1% in the 4th quarter. Nordea Investment Management AB now owns 349,773 shares of the company's stock valued at $6,953,000 after buying an additional 86,910 shares during the period. Franklin Resources Inc. increased its holdings in shares of Privia Health Group by 2.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,300,240 shares of the company's stock worth $23,092,000 after buying an additional 28,480 shares during the last quarter. Barclays PLC raised its position 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 valued at $4,079,000 after buying an additional 158,188 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Privia Health Group by 8.4% in the third quarter. JPMorgan Chase & Co. now owns 188,384 shares of the company's stock valued at $3,430,000 after acquiring an additional 14,641 shares during the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

Privia Health Group Stock Performance

NASDAQ:PRVA opened at $22.72 on Wednesday. Privia Health Group, Inc. has a 1 year low of $15.92 and a 1 year high of $26.04. The stock has a market cap of $2.76 billion, a P/E ratio of 227.22, a P/E/G ratio of 3.47 and a beta of 0.87. The stock has a 50-day simple moving average of $23.42 and a 200-day simple moving average of $22.16.

Wall Street Analyst Weigh In

PRVA has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Privia Health Group from $29.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Truist Financial upped their target price on shares of Privia Health Group from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, April 10th. Barclays lifted their price target on shares of Privia Health Group from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Thursday, April 10th. JMP Securities restated a "market outperform" rating and issued a $29.00 price objective on shares of Privia Health Group in a report on Monday, April 28th. Finally, Piper Sandler boosted their target price on Privia Health Group from $25.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $27.38.

Insiders Place Their Bets

In other news, CEO Parth Mehrotra sold 15,100 shares of the firm'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 $352,283.00. Following the transaction, the chief executive officer now directly owns 454,281 shares in the company, valued at approximately $10,598,375.73. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew Shawn Morris sold 10,309 shares of the company's stock in a transaction 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 quarter, insiders have sold 34,484 shares of company stock valued at $799,163. 10.70% of the stock is owned by corporate 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.

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