Privia Health Group, Inc. $PRVA Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 547,718 shares of the company’s stock after selling 23,791 shares during the period. Envestnet Asset Management Inc. owned 0.45% of Privia Health Group worth $13,638,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PRVA. CWM LLC raised its holdings in shares of Privia Health Group by 89.4% during the second quarter. CWM LLC now owns 3,416 shares of the company’s stock valued at $79,000 after acquiring an additional 1,612 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Privia Health Group by 48.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock worth $85,000 after purchasing an additional 1,200 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Privia Health Group during the 2nd quarter worth $113,000. Covestor Ltd grew its holdings in shares of Privia Health Group by 39.8% during the third quarter. Covestor Ltd now owns 5,824 shares of the company’s stock worth $145,000 after buying an additional 1,657 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Privia Health Group in the first quarter valued at about $154,000. 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 13,647 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $25.01, for a total transaction of $341,311.47. Following the completion of the transaction, the director owned 68,188 shares of the company’s stock, valued at approximately $1,705,381.88. This trade represents a 16.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David Mountcastle sold 23,887 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $25.03, for a total value of $597,891.61. Following the completion of the sale, the chief financial officer directly owned 172,909 shares in the company, valued at approximately $4,327,912.27. The trade was a 12.14% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 10.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Privia Health Group in a research note on Tuesday, January 6th. Royal Bank Of Canada assumed coverage on Privia Health Group in a research report on Friday, January 9th. They issued an “outperform” rating and a $31.00 price target for the company. BMO Capital Markets assumed coverage on Privia Health Group in a research report on Thursday, November 13th. They set an “outperform” rating and a $30.00 price objective on the stock. Canaccord Genuity Group boosted their price objective on Privia Health Group from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Finally, Wolfe Research set a $31.00 target price on Privia Health Group in a research note on Tuesday, January 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.50.

Privia Health Group Trading Up 4.1%

Shares of PRVA opened at $22.39 on Tuesday. The company’s 50-day moving average price is $23.37 and its 200 day moving average price is $23.34. Privia Health Group, Inc. has a 12-month low of $18.77 and a 12-month high of $26.51. The firm has a market cap of $2.75 billion, a P/E ratio of 172.24, a price-to-earnings-growth ratio of 1.57 and a beta of 0.83.

Privia Health Group Company 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.