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

Riverbridge Partners LLC decreased its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 14.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,917,948 shares of the company’s stock after selling 665,642 shares during the quarter. Privia Health Group accounts for about 2.0% of Riverbridge Partners LLC’s investment portfolio, making the stock its 14th biggest position. Riverbridge Partners LLC owned about 3.12% of Privia Health Group worth $80,592,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in PRVA. Vanguard Group Inc. increased its stake in Privia Health Group by 5.3% during the third quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock valued at $301,263,000 after acquiring an additional 607,447 shares during the period. Durable Capital Partners LP lifted 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 acquiring an additional 203,842 shares during the period. State Street Corp lifted its position in shares of Privia Health Group by 1.5% in the 2nd quarter. State Street Corp now owns 4,171,069 shares of the company’s stock worth $95,935,000 after acquiring an additional 61,853 shares during the period. Van Berkom & Associates Inc. grew its holdings in shares of Privia Health Group by 1.8% during the 4th quarter. Van Berkom & Associates Inc. now owns 3,844,256 shares of the company’s stock worth $91,147,000 after purchasing an additional 69,691 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Privia Health Group by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,814,290 shares of the company’s stock worth $66,738,000 after purchasing an additional 31,204 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Insider Buying and Selling at Privia Health Group

In other news, CEO Parth Mehrotra sold 15,647 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $22.64, for a total transaction of $354,248.08. Following the sale, the chief executive officer directly owned 434,357 shares of the company’s stock, valued at $9,833,842.48. This represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Also, CFO David Mountcastle sold 3,385 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $22.60, for a total transaction of $76,501.00. Following the completion of the sale, the chief financial officer directly owned 211,462 shares of the company’s stock, valued at approximately $4,779,041.20. This represents a 1.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 156,535 shares of company stock worth $3,586,903. 5.70% of the stock is currently owned by corporate insiders.

Privia Health Group Stock Performance

Privia Health Group stock opened at $23.74 on Wednesday. The firm has a market cap of $2.99 billion, a P/E ratio of 148.38, a P/E/G ratio of 1.70 and a beta of 0.90. The business’s fifty day moving average is $23.07 and its two-hundred day moving average is $22.92. Privia Health Group, Inc. has a 52 week low of $18.77 and a 52 week high of $26.51.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial upped their target price on Privia Health Group from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Piper Sandler reiterated an “overweight” rating and set a $36.00 price target on shares of Privia Health Group in a research note on Thursday, February 26th. Weiss Ratings lowered shares of Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Evercore set a $26.00 price objective on shares of Privia Health Group in a research note on Wednesday, April 8th. Finally, Citigroup reduced their price objective on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.15.

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.