Envestnet Asset Management Inc. Decreases Stock Holdings in Privia Health Group, Inc. (NASDAQ:PRVA)

Envestnet Asset Management Inc. decreased its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 587,629 shares of the company’s stock after selling 6,188 shares during the quarter. Envestnet Asset Management Inc. owned about 0.48% of Privia Health Group worth $13,192,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PRVA. Bessemer Group Inc. increased its position in Privia Health Group by 2,393.4% during the first quarter. Bessemer Group Inc. now owns 2,269 shares of the company’s stock valued at $51,000 after acquiring an additional 2,178 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Privia Health Group by 4.6% during the first quarter. Janney Montgomery Scott LLC now owns 55,371 shares of the company’s stock valued at $1,243,000 after acquiring an additional 2,413 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Privia Health Group by 8.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,169 shares of the company’s stock valued at $140,000 after acquiring an additional 533 shares during the last quarter. GAMMA Investing LLC increased its position in Privia Health Group by 113.1% during the first quarter. GAMMA Investing LLC now owns 2,866 shares of the company’s stock valued at $64,000 after acquiring an additional 1,521 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Privia Health Group by 10.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,416,235 shares of the company’s stock valued at $27,687,000 after acquiring an additional 138,747 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insider Activity at Privia Health Group

In related news, Director Matthew Shawn Morris sold 10,309 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $23.33, for a total value of $240,508.97. Following the completion of the transaction, the director directly owned 59,792 shares of the company’s stock, valued at $1,394,947.36. This trade represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David Mountcastle sold 3,445 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $23.33, for a total transaction of $80,371.85. Following the completion of the transaction, the chief financial officer directly owned 176,231 shares of the company’s stock, valued at $4,111,469.23. The trade was a 1.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,949 shares of company stock valued at $1,100,368 in the last three months. 10.70% of the stock is owned by insiders.

Privia Health Group Stock Down 5.3%

Shares of Privia Health Group stock opened at $19.61 on Friday. The firm has a market capitalization of $2.39 billion, a P/E ratio of 163.43, a PEG ratio of 3.31 and a beta of 0.82. The company has a 50 day moving average price of $22.54 and a 200 day moving average price of $22.95. Privia Health Group, Inc. has a 52 week low of $16.47 and a 52 week high of $26.09.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PRVA shares. Robert W. Baird upped their price target on shares of Privia Health Group from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, April 15th. Needham & Company LLC restated a “buy” rating and issued a $30.00 price target on shares of Privia Health Group in a report on Thursday, April 10th. JMP Securities restated a “market outperform” rating and issued a $29.00 price target on shares of Privia Health Group in a report on Monday, April 28th. JPMorgan Chase & Co. upped their price target on shares of Privia Health Group from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, May 28th. Finally, Evercore ISI cut their price target on shares of Privia Health Group from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $28.38.

About Privia Health Group

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.