Riverbridge Partners LLC Has $80.59 Million Stock Holdings in Privia Health Group, Inc. $PRVA

Riverbridge Partners LLC decreased its position in Privia Health Group, Inc. (NASDAQ:PRVA) by 14.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 3,917,948 shares of the company’s stock after selling 665,642 shares during the quarter. Privia Health Group comprises 2.0% of Riverbridge Partners LLC’s investment portfolio, making the stock its 14th largest holding. Riverbridge Partners LLC’s holdings in Privia Health Group were worth $80,592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRVA. Bayban bought a new stake in Privia Health Group during the 4th quarter worth about $26,000. Hantz Financial Services Inc. boosted its stake in shares of Privia Health Group by 456.2% in the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after purchasing an additional 926 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock worth $38,000 after buying an additional 1,351 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Privia Health Group by 48.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock worth $85,000 after buying an additional 1,200 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of Privia Health Group during the fourth quarter worth approximately $93,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Privia Health Group Stock Performance

Shares of NASDAQ:PRVA opened at $23.74 on Wednesday. Privia Health Group, Inc. has a 52 week low of $18.77 and a 52 week high of $26.51. The company has a market capitalization of $2.99 billion, a PE ratio of 148.38, a PEG ratio of 1.70 and a beta of 0.90. The company has a 50 day moving average price of $23.07 and a two-hundred day moving average price of $22.92.

Privia Health Group (NASDAQ:PRVA) last posted its earnings results on Thursday, May 7th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.11. The company 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 business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the business posted $0.22 earnings per share. On average, sell-side analysts forecast that Privia Health Group, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In other Privia Health Group news, CFO David Mountcastle sold 3,385 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $22.60, for a total value of $76,501.00. Following the completion of the transaction, the chief financial officer directly owned 211,462 shares of the company’s stock, valued at approximately $4,779,041.20. The trade was a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Parth Mehrotra sold 15,647 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $22.64, for a total value of $354,248.08. Following the completion of the sale, the chief executive officer owned 434,357 shares of the company’s stock, valued at $9,833,842.48. This trade represents a 3.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 quarter, insiders have sold 156,535 shares of company stock valued at $3,586,903. 5.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Evercore set a $26.00 price objective on shares of Privia Health Group in a research note on Wednesday, April 8th. Barclays cut their price target 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. Truist Financial raised their price target on Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Citigroup decreased their price objective on Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $36.00 price objective on shares of Privia Health Group in a report on Thursday, February 26th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Privia Health Group has a consensus rating of “Moderate Buy” and an average price target of $31.15.

About Privia Health Group

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.