Sheets Smith Investment Management Invests $654,000 in Privia Health Group, Inc. $PRVA

Sheets Smith Investment Management acquired a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,284 shares of the company’s stock, valued at approximately $654,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of Privia Health Group by 1.5% in the second quarter. State Street Corp now owns 4,171,069 shares of the company’s stock worth $95,935,000 after acquiring an additional 61,853 shares during the last quarter. Geode Capital Management LLC increased its position in Privia Health Group by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,655,569 shares of the company’s stock worth $61,086,000 after purchasing an additional 158,521 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Privia Health Group by 180.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,633,040 shares of the company’s stock valued at $59,112,000 after purchasing an additional 1,693,870 shares during the last quarter. Northern Trust Corp boosted its position in Privia Health Group by 2.2% in the first quarter. Northern Trust Corp now owns 1,423,865 shares of the company’s stock valued at $31,966,000 after buying an additional 31,224 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Privia Health Group by 1.6% in the second quarter. Franklin Resources Inc. now owns 1,340,398 shares of the company’s stock valued at $30,829,000 after buying an additional 21,649 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

Insiders Place Their Bets

In related news, CFO David Mountcastle sold 23,887 shares of the business’s stock in a transaction 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 transaction, the chief financial officer owned 172,909 shares in the company, valued at $4,327,912.27. The trade was a 12.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Shawn Morris sold 13,647 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $25.01, for a total value of $341,311.47. Following the sale, the director owned 68,188 shares of the company’s stock, valued at approximately $1,705,381.88. The trade was a 16.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 10.70% of the company’s stock.

Privia Health Group Price Performance

Shares of PRVA opened at $23.94 on Friday. Privia Health Group, Inc. has a 1 year low of $18.77 and a 1 year high of $26.51. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 184.17, a price-to-earnings-growth ratio of 4.08 and a beta of 0.83. The business has a 50-day moving average of $24.43 and a 200-day moving average of $22.82.

Privia Health Group (NASDAQ:PRVA) last announced its earnings results on Tuesday, June 7th. The company reported $0.10 EPS for the quarter. The business had revenue of $213.61 million for the quarter. Privia Health Group had a return on equity of 2.52% and a net margin of 0.89%. As a group, sell-side analysts anticipate that Privia Health Group, Inc. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PRVA. Canaccord Genuity Group upped their price target on shares of Privia Health Group from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Truist Financial reaffirmed a “buy” rating and issued a $31.00 target price (up previously from $30.00) on shares of Privia Health Group in a report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Privia Health Group in a research note on Monday. Citizens Jmp upped their price objective on Privia Health Group from $30.00 to $31.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. Finally, Evercore ISI raised their price objective on shares of Privia Health Group from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Privia Health Group presently has an average rating of “Moderate Buy” and an average price target of $30.42.

Privia Health Group Profile

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.