Cinctive Capital Management LP Acquires New Position in Privia Health Group, Inc. (NASDAQ:PRVA)

Cinctive Capital Management LP acquired a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 139,305 shares of the company's stock, valued at approximately $2,723,000. Cinctive Capital Management LP owned approximately 0.12% of Privia Health Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Riverbridge Partners LLC increased its holdings in shares of Privia Health Group by 19.7% during the fourth quarter. Riverbridge Partners LLC now owns 5,824,458 shares of the company's stock valued at $113,868,000 after acquiring an additional 958,418 shares in the last quarter. Geode Capital Management LLC grew its position in Privia Health Group by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,415,022 shares of the company's stock valued at $43,986,000 after purchasing an additional 23,178 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Privia Health Group by 55.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,418,234 shares of the company's stock valued at $27,727,000 after purchasing an additional 503,002 shares in the last quarter. Franklin Resources Inc. raised its holdings in Privia Health Group by 0.8% in the fourth quarter. Franklin Resources Inc. now owns 1,311,166 shares of the company's stock worth $25,633,000 after buying an additional 10,926 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Privia Health Group by 6.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,133,873 shares of the company's stock worth $22,167,000 after buying an additional 69,649 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

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Insiders Place Their Bets

In other news, CFO David Mountcastle sold 5,630 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.38, for a total value of $125,999.40. Following the completion of the sale, the chief financial officer now directly owns 179,676 shares in the company, valued at $4,021,148.88. This represents a 3.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 14.20% of the company's stock.

Privia Health Group Price Performance

Shares of PRVA traded up $1.11 on Tuesday, reaching $22.59. The company's stock had a trading volume of 352,453 shares, compared to its average volume of 778,668. The stock's 50 day simple moving average is $23.75 and its two-hundred day simple moving average is $21.34. The stock has a market capitalization of $2.72 billion, a P/E ratio of 226.53, a PEG ratio of 3.47 and a beta of 0.88. Privia Health Group, Inc. has a 12-month low of $15.92 and a 12-month high of $26.04.

Wall Street Analysts Forecast Growth

PRVA has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Privia Health Group from $25.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Macquarie assumed coverage on Privia Health Group in a research note on Monday, December 16th. They issued an "outperform" rating and a $25.00 price target for the company. Canaccord Genuity Group upped their price target on Privia Health Group from $29.00 to $30.00 and gave the company a "buy" rating in a report on Friday, February 28th. Needham & Company LLC reiterated a "buy" rating and issued a $30.00 price objective on shares of Privia Health Group in a report on Friday, March 21st. Finally, Stephens restated an "overweight" rating and set a $26.00 target price on shares of Privia Health Group in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $26.67.

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.