Hsbc Holdings PLC Sells 46,416 Shares of Privia Health Group, Inc. $PRVA

Hsbc Holdings PLC decreased its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 55.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,851 shares of the company’s stock after selling 46,416 shares during the quarter. Hsbc Holdings PLC’s holdings in Privia Health Group were worth $774,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Durable Capital Partners LP grew its stake in shares of Privia Health Group by 1.8% in the third 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 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 worth $95,935,000 after purchasing an additional 61,853 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in Privia Health Group by 1.8% in 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. Geode Capital Management LLC boosted its stake in Privia Health Group by 1.1% in 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. Finally, Principal Financial Group Inc. grew its position in Privia Health Group by 1.6% during the 4th 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 last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Privia Health Group Stock Down 2.9%

Shares of PRVA stock opened at $24.12 on Thursday. The company has a 50 day moving average price of $24.47 and a 200-day moving average price of $23.34. 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 capitalization of $3.04 billion, a PE ratio of 150.76, a P/E/G ratio of 1.96 and a beta of 0.83.

Insider Activity at Privia Health Group

In other Privia Health Group news, CEO Parth Mehrotra sold 105,439 shares of Privia Health Group stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $22.55, for a total value of $2,377,649.45. Following the completion of the sale, the chief executive officer owned 450,004 shares of the company’s stock, valued at approximately $10,147,590.20. The trade was a 18.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 24,734 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total transaction of $680,185.00. Following the sale, the chief financial officer owned 186,728 shares of the company’s stock, valued at approximately $5,135,020. This represents a 11.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 478,855 shares of company stock worth $12,099,109 over the last quarter. Company insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

PRVA has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their price objective on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Zacks Research downgraded shares of Privia Health Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Citigroup reiterated a “buy” rating on shares of Privia Health Group in a report on Thursday, July 23rd. Barclays reduced their price target on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 26th. Finally, Weiss Ratings raised Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Eleven equities 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.15.

About Privia Health Group

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.