Renaissance Technologies LLC Increases Stock Position in Privia Health Group, Inc. $PRVA

Renaissance Technologies LLC raised its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 51.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 776,500 shares of the company’s stock after acquiring an additional 262,500 shares during the period. Renaissance Technologies LLC owned approximately 0.62% of Privia Health Group worth $15,973,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Royal Bank of Canada raised its stake in shares of Privia Health Group by 63.5% in the 1st quarter. Royal Bank of Canada now owns 245,633 shares of the company’s stock valued at $5,514,000 after acquiring an additional 95,371 shares during the period. AQR Capital Management LLC boosted its position in shares of Privia Health Group by 24.7% during the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $916,000 after purchasing an additional 8,068 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Privia Health Group by 3.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company’s stock valued at $2,666,000 after purchasing an additional 3,714 shares during the last quarter. Intech Investment Management LLC increased its holdings in Privia Health Group by 55.1% in the 1st quarter. Intech Investment Management LLC now owns 56,553 shares of the company’s stock valued at $1,270,000 after purchasing an additional 20,082 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Privia Health Group in the first quarter valued at approximately $154,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Privia Health Group Stock Down 0.8%

Privia Health Group stock opened at $23.67 on Friday. Privia Health Group, Inc. has a 52-week low of $18.77 and a 52-week high of $28.82. The firm has a market cap of $2.98 billion, a PE ratio of 147.95, a price-to-earnings-growth ratio of 1.89 and a beta of 0.83. The company’s 50 day moving average is $24.51 and its two-hundred day moving average is $23.35.

Analyst Upgrades and Downgrades

PRVA has been the topic of a number of research reports. Citigroup restated a “buy” rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Evercore set a $26.00 price objective on Privia Health Group in a report on Wednesday, April 8th. Barclays decreased their target price 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. Weiss Ratings upgraded Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Finally, Zacks Research cut Privia Health Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.15.

Insider Transactions at Privia Health Group

In other news, CFO David Mountcastle sold 21,275 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $27.67, for a total transaction of $588,679.25. Following the sale, the chief financial officer owned 164,853 shares of the company’s stock, valued at approximately $4,561,482.51. This represents a 11.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Parth Mehrotra sold 15,647 shares of the stock in a transaction on Tuesday, May 12th. The shares were 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 in the company, valued at approximately $9,833,842.48. The trade was a 3.48% 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. Over the last 90 days, insiders have sold 454,580 shares of company stock valued at $11,492,189. 5.70% of the stock is currently owned by company insiders.

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.