Rhenman & Partners Asset Management AB Sells 69,189 Shares of Privia Health Group, Inc. $PRVA

Rhenman & Partners Asset Management AB cut its holdings in Privia Health Group, Inc. (NASDAQ:PRVA) by 35.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,000 shares of the company’s stock after selling 69,189 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Privia Health Group were worth $2,964,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Wealth Alliance LLC boosted its holdings in Privia Health Group by 4.4% in the third quarter. Wealth Alliance LLC now owns 11,979 shares of the company’s stock worth $298,000 after purchasing an additional 508 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Privia Health Group by 1.1% in the third quarter. Illinois Municipal Retirement Fund now owns 55,501 shares of the company’s stock worth $1,382,000 after purchasing an additional 585 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Privia Health Group by 9.6% in the third quarter. PNC Financial Services Group Inc. now owns 7,731 shares of the company’s stock worth $193,000 after purchasing an additional 675 shares in the last quarter. Truist Financial Corp boosted its holdings in Privia Health Group by 4.6% in the third quarter. Truist Financial Corp now owns 17,634 shares of the company’s stock worth $439,000 after purchasing an additional 783 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Privia Health Group by 1.3% during the fourth quarter. State of Alaska Department of Revenue now owns 65,747 shares of the company’s stock valued at $1,558,000 after acquiring an additional 823 shares during the period. 94.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PRVA has been the topic of several research analyst reports. Weiss Ratings downgraded Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Canaccord Genuity Group lowered their price target on Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Jefferies Financial Group restated a “buy” rating and set a $32.00 target price on shares of Privia Health Group in a research note on Thursday, February 26th. Citigroup decreased their target price 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, Truist Financial increased 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. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.15.

Privia Health Group Stock Up 0.3%

Shares of NASDAQ:PRVA opened at $23.43 on Friday. The business has a 50 day moving average price of $22.87 and a 200 day moving average price of $22.96. Privia Health Group, Inc. has a twelve month low of $18.77 and a twelve month high of $26.51. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 146.45, a PEG ratio of 1.69 and a beta of 0.90.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.11. The business had revenue of $603.85 million during 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 firm’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. Analysts anticipate that Privia Health Group, Inc. will post 0.29 EPS for the current year.

Insider Activity

In other news, CFO David Mountcastle sold 7,179 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $25.03, for a total transaction of $179,690.37. Following the completion of the transaction, the chief financial officer owned 214,847 shares of the company’s stock, valued at approximately $5,377,620.41. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 17,096 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $24.99, for a total transaction of $427,229.04. Following the transaction, the director directly owned 68,188 shares of the company’s stock, valued at $1,704,018.12. This represents a 20.05% 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. Over the last 90 days, insiders sold 189,435 shares of company stock valued at $4,314,322. 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.