Bank of New York Mellon Corp Lowers Position in Privia Health Group, Inc. $PRVA

Bank of New York Mellon Corp decreased its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,943,493 shares of the company’s stock after selling 102,023 shares during the quarter. Bank of New York Mellon Corp owned about 2.34% of Privia Health Group worth $60,548,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PRVA. ArrowMark Colorado Holdings LLC increased its holdings in Privia Health Group by 139.4% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company’s stock valued at $19,946,000 after acquiring an additional 489,866 shares during the last quarter. Freestone Grove Partners LP boosted its holdings in shares of Privia Health Group by 40.6% during the 4th quarter. Freestone Grove Partners LP now owns 1,213,342 shares of the company’s stock valued at $28,768,000 after purchasing an additional 350,194 shares during the last quarter. Renaissance Group LLC purchased a new position in shares of Privia Health Group during the fourth quarter valued at about $7,776,000. Qube Research & Technologies Ltd grew its position in shares of Privia Health Group by 93.3% during the second quarter. Qube Research & Technologies Ltd now owns 609,278 shares of the company’s stock valued at $14,013,000 after purchasing an additional 294,101 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Privia Health Group in the second quarter worth about $6,219,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Privia Health Group Trading Down 3.6%

Shares of NASDAQ:PRVA opened at $25.37 on Thursday. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 158.57, a PEG ratio of 2.08 and a beta of 0.83. Privia Health Group, Inc. has a 12 month low of $18.77 and a 12 month high of $28.82. The company has a 50-day moving average price of $24.31 and a 200 day moving average price of $23.31.

Insider Buying and Selling at Privia Health Group

In other news, CFO David Mountcastle sold 21,275 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $27.67, for a total value of $588,679.25. Following the completion of the sale, the chief financial officer directly owned 164,853 shares of the company’s stock, valued at $4,561,482.51. This trade represents a 11.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 53,722 shares of Privia Health Group stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $27.24, for a total value of $1,463,387.28. Following the completion of the transaction, the director owned 68,188 shares of the company’s stock, valued at approximately $1,857,441.12. This trade represents a 44.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 478,855 shares of company stock worth $12,099,109 over the last ninety days. Company insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Zacks Research lowered Privia Health Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Barclays reduced their price objective on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 26th. Evercore set a $26.00 target price on Privia Health Group in a research report on Wednesday, April 8th. Weiss Ratings raised shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Finally, Canaccord Genuity Group cut their target price on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating for the company in a report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.15.

Privia Health Group Company Profile

Privia Health Group (NASDAQ: PRVA) is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.

Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.