Privia Health Group, Inc. (NASDAQ:PRVA) Short Interest Update

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 3,480,000 shares, a drop of 16.5% from the March 31st total of 4,170,000 shares. Currently, 3.2% of the company's shares are short sold. Based on an average trading volume of 815,000 shares, the short-interest ratio is presently 4.3 days.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PRVA. Barclays increased their price objective on shares of Privia Health Group from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 10th. Robert W. Baird raised their price target on Privia Health Group from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. JMP Securities reaffirmed 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. Canaccord Genuity Group lifted their target price on Privia Health Group from $29.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Truist Financial raised their price target on shares of Privia Health Group from $27.00 to $28.00 and gave the stock 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. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $27.38.

Insider Buying and Selling

In other news, CFO David Mountcastle sold 3,445 shares of Privia Health Group stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $23.33, for a total value of $80,371.85. Following the completion of the transaction, the chief financial officer now owns 176,231 shares in the company, valued at approximately $4,111,469.23. The trade was a 1.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Parth Mehrotra sold 15,100 shares of the business'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 value 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 represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,484 shares of company stock worth $799,163. Corporate insiders own 10.70% of the company's stock.

Institutional Trading of Privia Health Group

Hedge funds have recently modified their holdings of the company. Van Berkom & Associates Inc. purchased a new stake in Privia Health Group during the first quarter valued at approximately $45,207,000. Riverbridge Partners LLC boosted its position in shares of Privia Health Group by 19.7% in the 4th quarter. Riverbridge Partners LLC now owns 5,824,458 shares of the company's stock worth $113,868,000 after purchasing an additional 958,418 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in Privia Health Group by 55.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,418,234 shares of the company's stock worth $27,727,000 after buying an additional 503,002 shares during the last quarter. Durable Capital Partners LP raised its stake in Privia Health Group by 3.4% in the fourth quarter. Durable Capital Partners LP now owns 11,487,843 shares of the company's stock valued at $224,587,000 after buying an additional 378,255 shares during the last quarter. Finally, Royce & Associates LP acquired a new stake in Privia Health Group in the first quarter worth about $6,818,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Privia Health Group Trading Up 10.6 %

Shares of PRVA traded up $2.47 during trading hours on Thursday, hitting $25.79. The company had a trading volume of 390,067 shares, compared to its average volume of 766,252. The company has a market capitalization of $3.13 billion, a PE ratio of 257.93, a price-to-earnings-growth ratio of 3.47 and a beta of 0.87. Privia Health Group has a one year low of $15.92 and a one year high of $26.04. The company's fifty day moving average price is $23.39 and its two-hundred day moving average price is $22.17.

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.