Fmr LLC Boosts Stock Position in Privia Health Group, Inc. (NASDAQ:PRVA)

FMR LLC lifted its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,169,043 shares of the company's stock after acquiring an additional 271,645 shares during the period. FMR LLC owned 15.14% of Privia Health Group worth $330,858,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in Privia Health Group in the 2nd quarter valued at $26,000. Nisa Investment Advisors LLC increased its stake in Privia Health Group by 107.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,795 shares of the company's stock valued at $31,000 after purchasing an additional 930 shares during the last quarter. GAMMA Investing LLC lifted its position in Privia Health Group by 98.7% during the third quarter. GAMMA Investing LLC now owns 1,701 shares of the company's stock worth $31,000 after buying an additional 845 shares during the period. Signaturefd LLC boosted its stake in Privia Health Group by 46.3% in the 2nd quarter. Signaturefd LLC now owns 1,978 shares of the company's stock worth $34,000 after buying an additional 626 shares during the last quarter. Finally, KBC Group NV boosted its stake in Privia Health Group by 34.6% in the 3rd quarter. KBC Group NV now owns 3,385 shares of the company's stock worth $62,000 after buying an additional 871 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

Privia Health Group Price Performance

Privia Health Group stock traded down $0.18 during midday trading on Friday, hitting $21.48. 315,101 shares of the company were exchanged, compared to its average volume of 808,460. The company has a market cap of $2.58 billion, a PE ratio of 214.82, a price-to-earnings-growth ratio of 5.40 and a beta of 0.76. Privia Health Group, Inc. has a fifty-two week low of $15.92 and a fifty-two week high of $24.30. The company's fifty day moving average price is $19.24 and its 200-day moving average price is $18.70.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PRVA. Barclays increased their price objective on shares of Privia Health Group from $19.00 to $21.00 and gave the stock an "equal weight" rating in a report on Friday, November 8th. KeyCorp initiated coverage on shares of Privia Health Group in a report on Friday, October 11th. They issued an "overweight" rating and a $23.00 price target on the stock. Robert W. Baird upped their price objective on Privia Health Group from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Monday, August 26th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $28.00 target price on shares of Privia Health Group in a research report on Wednesday, August 14th. Finally, Truist Financial boosted their price target on Privia Health Group from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $24.93.

Insider Activity

In related news, CEO Parth Mehrotra sold 135,142 shares of the firm'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 completion of the sale, the chief executive officer now directly owns 247,771 shares of the company's stock, valued at approximately $4,583,763.50. This trade represents a 35.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.20% of the company's stock.

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.