Pier Capital LLC Grows Stock Position in Privia Health Group, Inc. (NASDAQ:PRVA)

Pier Capital LLC raised its position in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 27.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 389,895 shares of the company's stock after acquiring an additional 84,786 shares during the quarter. Pier Capital LLC owned approximately 0.32% of Privia Health Group worth $7,100,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in shares of Privia Health Group by 2,994.2% during the 2nd quarter. Millennium Management LLC now owns 1,138,526 shares of the company's stock worth $19,788,000 after buying an additional 1,101,730 shares during the last quarter. Eventide Asset Management LLC lifted its position in shares of Privia Health Group by 979.2% during the 3rd quarter. Eventide Asset Management LLC now owns 822,438 shares of the company's stock worth $14,977,000 after buying an additional 746,231 shares during the last quarter. Icon Wealth Advisors LLC lifted its position in shares of Privia Health Group by 1,910.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 300,889 shares of the company's stock worth $5,479,000 after buying an additional 285,920 shares during the last quarter. FMR LLC lifted its position in shares of Privia Health Group by 1.5% during the 3rd quarter. FMR LLC now owns 18,169,043 shares of the company's stock worth $330,858,000 after buying an additional 271,645 shares during the last quarter. Finally, BlackBarn Capital Partners LP lifted its position in shares of Privia Health Group by 100.0% during the 2nd quarter. BlackBarn Capital Partners LP now owns 400,000 shares of the company's stock worth $6,952,000 after buying an additional 200,000 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

Insider Transactions at Privia Health Group

In other news, CEO Parth Mehrotra sold 135,142 shares of the company's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $18.50, for a total transaction of $2,500,127.00. Following the transaction, the chief executive officer now directly owns 247,771 shares of the company's stock, valued at $4,583,763.50. This represents a 35.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 14.20% of the company's stock.

Privia Health Group Stock Performance

PRVA traded down $0.04 during trading on Friday, hitting $21.18. The stock had a trading volume of 381,958 shares, compared to its average volume of 652,222. Privia Health Group, Inc. has a twelve month low of $15.92 and a twelve month high of $24.30. The firm has a market capitalization of $2.54 billion, a P/E ratio of 211.82, a PEG ratio of 5.72 and a beta of 0.83. The company's 50-day moving average price is $19.60 and its 200 day moving average price is $18.87.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PRVA shares. Royal Bank of Canada restated an "outperform" rating and set a $28.00 price objective on shares of Privia Health Group in a research report on Wednesday, August 14th. Robert W. Baird boosted their price objective on shares of Privia Health Group from $23.00 to $24.00 and gave the stock an "outperform" rating in a research report on Monday, August 26th. KeyCorp initiated coverage on shares of Privia Health Group in a research report on Friday, October 11th. They issued an "overweight" rating and a $23.00 price target for the company. Truist Financial upped their price target on shares of Privia Health Group from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Privia Health Group from $27.00 to $28.00 and gave the company an "overweight" rating in a research report on Friday, November 29th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $24.79.

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.