Allspring Global Investments Holdings LLC Cuts Stake in Privia Health Group, Inc. (NASDAQ:PRVA)

Allspring Global Investments Holdings LLC reduced its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA – Get Rating) by 21.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,820 shares of the company’s stock after selling 56,050 shares during the period. Allspring Global Investments Holdings LLC owned 0.18% of Privia Health Group worth $7,010,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Privia Health Group during the 3rd quarter worth about $10,231,000. Emerald Advisers LLC purchased a new position in Privia Health Group in the third quarter valued at approximately $15,206,000. Raymond James & Associates purchased a new position in Privia Health Group in the third quarter valued at approximately $388,000. CHURCHILL MANAGEMENT Corp purchased a new position in Privia Health Group in the third quarter valued at approximately $3,056,000. Finally, Mackenzie Financial Corp purchased a new position in Privia Health Group in the third quarter valued at approximately $924,000. 66.83% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Trading Down 0.8 %

Shares of NASDAQ:PRVA opened at $25.61 on Monday. The company has a fifty day simple moving average of $23.91 and a 200 day simple moving average of $31.64. The firm has a market cap of $2.93 billion, a PE ratio of -71.14 and a beta of 0.67. Privia Health Group, Inc. has a 12-month low of $17.99 and a 12-month high of $44.64.

Privia Health Group (NASDAQ:PRVA – Get Rating) last issued its quarterly earnings results on Thursday, November 10th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $342.90 million during the quarter, compared to analyst estimates of $323.66 million. Privia Health Group had a negative net margin of 3.02% and a negative return on equity of 6.82%. As a group, equities research analysts forecast that Privia Health Group, Inc. will post -0.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Advisors L.L.C. Mbd sold 3,186,888 shares of Privia Health Group stock in a transaction on Monday, November 21st. The shares were sold at an average price of $22.56, for a total value of $71,896,193.28. Following the completion of the sale, the insider now owns 24,826,071 shares in the company, valued at $560,076,161.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Privia Health Group news, Director William M. Sullivan sold 48,461 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $32.60, for a total transaction of $1,579,828.60. Following the completion of the sale, the director now owns 6,190,646 shares in the company, valued at $201,815,059.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Advisors L.L.C. Mbd sold 3,186,888 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $22.56, for a total transaction of $71,896,193.28. Following the sale, the insider now owns 24,826,071 shares of the company’s stock, valued at approximately $560,076,161.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,741,487 shares of company stock worth $86,356,160. Insiders own 57.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PRVA. Canaccord Genuity Group cut their price target on shares of Privia Health Group from $50.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, November 11th. SVB Leerink cut their price target on shares of Privia Health Group from $46.00 to $39.00 and set an “outperform” rating on the stock in a report on Friday, November 11th. Piper Sandler cut their price target on shares of Privia Health Group to $42.00 in a report on Thursday, November 17th. BTIG Research dropped their price objective on shares of Privia Health Group from $45.00 to $40.00 in a research note on Monday, January 9th. Finally, Stifel Nicolaus started coverage on shares of Privia Health Group in a research report on Thursday, December 8th. They set a “buy” rating and a $28.00 target price on the stock. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Privia Health Group currently has an average rating of “Buy” and a consensus target price of $39.46.

Privia Health Group Company Profile

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Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.