JPMorgan Chase & Co. Acquires 30,845 Shares of Privia Health Group, Inc. $PRVA

JPMorgan Chase & Co. increased its holdings in Privia Health Group, Inc. (NASDAQ:PRVA) by 26.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,709 shares of the company’s stock after acquiring an additional 30,845 shares during the quarter. JPMorgan Chase & Co. owned about 0.12% of Privia Health Group worth $3,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in PRVA. Royal Bank of Canada grew its stake in shares of Privia Health Group by 63.5% in the 1st quarter. Royal Bank of Canada now owns 245,633 shares of the company’s stock worth $5,514,000 after buying an additional 95,371 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Privia Health Group by 24.7% in the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $916,000 after acquiring an additional 8,068 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Privia Health Group by 3.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company’s stock valued at $2,666,000 after acquiring an additional 3,714 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Privia Health Group by 55.1% in the 1st quarter. Intech Investment Management LLC now owns 56,553 shares of the company’s stock worth $1,270,000 after purchasing an additional 20,082 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Privia Health Group in the 1st quarter worth about $154,000. Institutional investors own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Barclays lifted their target price on shares of Privia Health Group from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 25th. Piper Sandler reiterated an “overweight” rating and set a $36.00 target price on shares of Privia Health Group in a research note on Thursday, February 26th. Citigroup decreased their price target 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. Wolfe Research set a $31.00 price objective on Privia Health Group in a research report on Tuesday, January 6th. Finally, Canaccord Genuity Group boosted their target price on Privia Health Group from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.13.

Insider Buying and Selling at Privia Health Group

In related news, CEO Parth Mehrotra sold 26,509 shares of Privia Health Group stock in a transaction on Monday, March 16th. The stock was sold at an average price of $22.11, for a total transaction of $586,113.99. Following the transaction, the chief executive officer directly owned 555,443 shares in the company, valued at approximately $12,280,844.73. The trade was a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Mountcastle sold 6,391 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $22.11, for a total value of $141,305.01. Following the completion of the transaction, the chief financial officer directly owned 220,413 shares in the company, valued at $4,873,331.43. This trade represents a 2.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 242,191 shares of company stock valued at $5,520,587. Insiders own 10.70% of the company’s stock.

Privia Health Group Price Performance

NASDAQ PRVA opened at $21.21 on Friday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 124.76, a PEG ratio of 1.32 and a beta of 0.87. Privia Health Group, Inc. has a 1-year low of $18.77 and a 1-year high of $26.51. The business’s fifty day moving average price is $22.14 and its 200-day moving average price is $23.41.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.21. The company had revenue of $541.17 million during the quarter, compared to analysts’ expectations of $516.61 million. Privia Health Group had a return on equity of 3.06% and a net margin of 1.08%.Privia Health Group’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. Equities research analysts anticipate that Privia Health Group, Inc. will post 0.14 EPS for the current year.

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.