Clearbridge Investments LLC Has $8.76 Million Stock Position in Privia Health Group, Inc. $PRVA

Clearbridge Investments LLC cut its position in Privia Health Group, Inc. (NASDAQ:PRVA) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 369,394 shares of the company’s stock after selling 31,619 shares during the quarter. Clearbridge Investments LLC owned approximately 0.30% of Privia Health Group worth $8,758,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State of Wyoming grew its stake in Privia Health Group by 48.6% in the 4th quarter. State of Wyoming now owns 33,389 shares of the company’s stock valued at $792,000 after buying an additional 10,927 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Privia Health Group by 40.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 894,702 shares of the company’s stock valued at $21,213,000 after buying an additional 258,430 shares during the last quarter. Natixis Advisors LLC grew its stake in Privia Health Group by 6.4% in the 4th quarter. Natixis Advisors LLC now owns 20,352 shares of the company’s stock valued at $483,000 after buying an additional 1,221 shares during the last quarter. One Capital Management LLC acquired a new position in Privia Health Group in the 4th quarter valued at $1,050,000. Finally, Norges Bank acquired a new position in Privia Health Group in the 4th quarter valued at $751,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PRVA shares. Canaccord Genuity Group lowered their target price on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Citigroup lowered their target price on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Truist Financial raised their target price on shares of Privia Health Group from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Weiss Ratings lowered shares of Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Finally, Barclays lowered their target price on shares of 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. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.15.

Insider Transactions at Privia Health Group

In other news, CFO David Mountcastle sold 7,179 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $25.03, for a total transaction of $179,690.37. Following the completion of the transaction, the chief financial officer directly owned 214,847 shares of the company’s stock, valued at approximately $5,377,620.41. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Parth Mehrotra sold 105,439 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $22.55, for a total transaction of $2,377,649.45. Following the transaction, the chief executive officer directly owned 450,004 shares of the company’s stock, valued at $10,147,590.20. The trade was a 18.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 223,229 shares of company stock valued at $5,041,569. Company insiders own 5.70% of the company’s stock.

Privia Health Group Price Performance

Shares of Privia Health Group stock opened at $22.90 on Thursday. Privia Health Group, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $26.51. The firm has a fifty day moving average price of $22.76 and a two-hundred day moving average price of $22.96. The company has a market cap of $2.89 billion, a PE ratio of 143.13, a price-to-earnings-growth ratio of 1.60 and a beta of 0.90.

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

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.