Oppenheimer Asset Management Inc. Purchases New Stake in Privia Health Group, Inc. $PRVA

Oppenheimer Asset Management Inc. acquired a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 226,999 shares of the company’s stock, valued at approximately $5,841,000. Oppenheimer Asset Management Inc. owned approximately 0.18% of Privia Health Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Durable Capital Partners LP increased its stake in shares of Privia Health Group by 1.8% in the 3rd quarter. Durable Capital Partners LP now owns 11,691,685 shares of the company’s stock worth $291,123,000 after acquiring an additional 203,842 shares during the last quarter. State Street Corp boosted its position in shares of Privia Health Group by 1.5% during the 2nd quarter. State Street Corp now owns 4,171,069 shares of the company’s stock valued at $95,935,000 after acquiring an additional 61,853 shares during the last quarter. Van Berkom & Associates Inc. boosted its position in shares of Privia Health Group by 5.4% during the 1st quarter. Van Berkom & Associates Inc. now owns 4,053,043 shares of the company’s stock valued at $83,371,000 after acquiring an additional 208,787 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Privia Health Group by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,814,290 shares of the company’s stock valued at $66,738,000 after purchasing an additional 31,204 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Privia Health Group by 1.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,787,802 shares of the company’s stock valued at $66,099,000 after purchasing an additional 43,589 shares during the period. Institutional investors and hedge funds own 94.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PRVA. Barclays reduced 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. Zacks Research raised shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group set a $32.00 price target on shares of Privia Health Group in a report on Friday, August 7th. Citigroup reaffirmed a “buy” rating on shares of Privia Health Group in a research report on Thursday, July 23rd. Finally, Weiss Ratings upgraded Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Privia Health Group Price Performance

Shares of Privia Health Group stock opened at $22.00 on Friday. The business has a 50-day moving average of $24.71 and a 200 day moving average of $23.29. Privia Health Group, Inc. has a 12 month low of $19.53 and a 12 month high of $28.82. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 104.77, a price-to-earnings-growth ratio of 1.77 and a beta of 0.85.

Insider Activity

In other news, CFO David Mountcastle sold 21,275 shares of the stock in a transaction dated Thursday, July 9th. The shares were 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 sale was disclosed in a document filed 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, Director Matthew Shawn Morris sold 53,722 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $27.24, for a total transaction of $1,463,387.28. Following the completion of the transaction, the director directly owned 68,188 shares of the company’s stock, valued at approximately $1,857,441.12. The trade was a 44.07% decrease in their position. 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. Insiders have sold 327,886 shares of company stock worth $8,628,256 in the last three months. Corporate insiders own 5.70% of the company’s stock.

Privia Health Group 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.