685,489 Shares in Privia Health Group, Inc. $PRVA Bought by Freestone Grove Partners LP

Freestone Grove Partners LP bought a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 685,489 shares of the company’s stock, valued at approximately $17,638,000.

Several other large investors also recently bought and sold shares of PRVA. BlackRock Inc. purchased a new position in shares of Privia Health Group in the second quarter valued at $550,684,000. Durable Capital Partners LP boosted its position 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 buying an additional 203,842 shares in the last quarter. Rubicon Founders LLC acquired a new stake in Privia Health Group in the 2nd quarter valued at about $153,635,863,000. State Street Corp grew its stake in Privia Health Group by 1.5% in 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. Finally, Van Berkom & Associates Inc. increased its holdings in 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 in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Insider Buying and Selling

In related news, Director Matthew Shawn Morris sold 88,110 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $25.33, for a total transaction of $2,231,826.30. Following the sale, the director owned 76,651 shares in the company, valued at approximately $1,941,569.83. This trade represents a 53.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 24,734 shares of Privia Health Group stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $27.50, for a total transaction of $680,185.00. Following the completion of the sale, the chief financial officer directly owned 186,728 shares of the company’s stock, valued at $5,135,020. The trade was a 11.70% 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. In the last three months, insiders sold 327,886 shares of company stock valued at $8,628,256. Company insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

PRVA has been the subject of a number of research reports. Weiss Ratings upgraded shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Barclays lowered their price target on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th. Citigroup reissued a “buy” rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Canaccord Genuity Group set a $32.00 price objective on Privia Health Group in a research report on Friday, August 7th. Finally, Zacks Research raised Privia Health Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Privia Health Group Trading Down 1.0%

Privia Health Group stock opened at $20.86 on Friday. The stock has a market cap of $2.66 billion, a PE ratio of 99.34, a P/E/G ratio of 1.66 and a beta of 0.85. The stock has a 50-day moving average price of $24.39 and a 200 day moving average price of $23.20. Privia Health Group, Inc. has a 52 week low of $19.53 and a 52 week high of $28.82.

Privia Health Group (NASDAQ:PRVA) last released its earnings results on Thursday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. Privia Health Group had a net margin of 1.19% and a return on equity of 3.52%. The company had revenue of $632.63 million for the quarter, compared to analyst estimates of $597.33 million. During the same period in the prior year, the firm earned $0.24 EPS. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. On average, equities analysts predict that Privia Health Group, Inc. will post 0.27 EPS for the current year.

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.