Bank of New York Mellon Corp Sells 27,965 Shares of Privia Health Group, Inc. $PRVA

Bank of New York Mellon Corp cut its holdings in Privia Health Group, Inc. (NASDAQ:PRVA) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,045,516 shares of the company’s stock after selling 27,965 shares during the period. Bank of New York Mellon Corp owned 2.48% of Privia Health Group worth $72,209,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PRVA. Vanguard Group Inc. lifted its stake in Privia Health Group by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock worth $301,263,000 after purchasing an additional 607,447 shares in the last quarter. Algert Global LLC lifted its stake in Privia Health Group by 277.4% in the 3rd quarter. Algert Global LLC now owns 484,304 shares of the company’s stock worth $12,059,000 after purchasing an additional 355,966 shares in the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in Privia Health Group in the 3rd quarter worth approximately $8,750,000. Freestone Grove Partners LP lifted its stake in Privia Health Group by 59.6% in the 3rd quarter. Freestone Grove Partners LP now owns 863,148 shares of the company’s stock worth $21,492,000 after purchasing an additional 322,426 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in Privia Health Group by 93.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 609,278 shares of the company’s stock worth $14,013,000 after purchasing an additional 294,101 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

Privia Health Group Stock Up 3.5%

Shares of NASDAQ:PRVA opened at $22.17 on Wednesday. The stock has a market cap of $2.79 billion, a PE ratio of 138.57, a PEG ratio of 1.55 and a beta of 0.90. The company’s fifty day moving average is $22.71 and its 200 day moving average is $22.96. Privia Health Group, Inc. has a 52 week low of $18.77 and a 52 week high of $26.51.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. The business had revenue of $603.85 million for the quarter, compared to analyst estimates of $560.99 million. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. The company’s revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS. Sell-side analysts anticipate that Privia Health Group, Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on PRVA shares. Jefferies Financial Group reiterated a “buy” rating and issued a $32.00 target price on shares of Privia Health Group in a research note on Thursday, February 26th. Truist Financial increased their target price on shares of Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Weiss Ratings cut shares of Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Canaccord Genuity Group lowered their price objective on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Piper Sandler restated an “overweight” rating and set a $36.00 price objective on shares of Privia Health Group in a research report on Thursday, February 26th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.15.

Insider Activity

In other news, Director Matthew Shawn Morris sold 1,017 shares of Privia Health Group stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $24.96, for a total transaction of $25,384.32. Following the sale, the director owned 68,188 shares of the company’s stock, valued at approximately $1,701,972.48. The trade was a 1.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 3,385 shares of Privia Health Group stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $22.60, for a total transaction of $76,501.00. Following the sale, the chief financial officer directly owned 211,462 shares in the company, valued at $4,779,041.20. The trade was a 1.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 256,445 shares of company stock valued at $5,769,000. Corporate insiders own 5.70% of the company’s stock.

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.