T. Rowe Price Investment Management Inc. Trims Stock Holdings in Privia Health Group, Inc. (NASDAQ:PRVA)

T. Rowe Price Investment Management Inc. decreased its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 30.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,774,756 shares of the company's stock after selling 1,661,338 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 3.15% of Privia Health Group worth $73,797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRVA. Rhumbline Advisers raised its stake in Privia Health Group by 1.3% during the fourth quarter. Rhumbline Advisers now owns 287,200 shares of the company's stock valued at $5,615,000 after purchasing an additional 3,658 shares in the last quarter. Nordea Investment Management AB raised its stake in Privia Health Group by 33.1% during the fourth 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 in the last quarter. Franklin Resources Inc. raised 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 valued at $23,092,000 after purchasing an additional 28,480 shares in the last quarter. Barclays PLC raised its stake in Privia Health Group by 240.3% during 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Privia Health Group by 8.4% during the third quarter. JPMorgan Chase & Co. now owns 188,384 shares of the company's stock valued at $3,430,000 after purchasing an additional 14,641 shares in the last quarter. Institutional investors own 94.48% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PRVA shares. Stephens reaffirmed an "overweight" rating and set a $26.00 price target on shares of Privia Health Group in a research note on Thursday, January 2nd. Canaccord Genuity Group increased their target price on shares of Privia Health Group from $29.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Truist Financial increased 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 note on Thursday, April 10th. Robert W. Baird increased their target price on shares of Privia Health Group from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Finally, Piper Sandler increased their target price on shares of Privia Health Group from $25.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Privia Health Group currently has a consensus rating of "Buy" and a consensus price target of $27.14.

Privia Health Group Stock Performance

Privia Health Group stock traded down $0.55 during midday trading on Thursday, hitting $22.93. 200,232 shares of the company's stock were exchanged, compared to its average volume of 770,592. Privia Health Group, Inc. has a 12 month low of $15.92 and a 12 month high of $26.04. The company has a market cap of $2.78 billion, a PE ratio of 229.32, a P/E/G ratio of 3.47 and a beta of 0.88. The firm has a 50-day moving average of $23.55 and a two-hundred day moving average of $22.00.

Insider Buying and Selling at Privia Health Group

In other news, CFO David Mountcastle sold 5,630 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.38, for a total transaction of $125,999.40. Following the transaction, the chief financial officer now directly owns 179,676 shares of the company's stock, valued at approximately $4,021,148.88. This represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.70% of the stock is owned by 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.