Wellington Management Group LLP Reduces Stock Holdings in Privia Health Group, Inc. (NASDAQ:PRVA)

Wellington Management Group LLP lowered its position in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 46.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,895,165 shares of the company's stock after selling 1,618,423 shares during the period. Wellington Management Group LLP owned approximately 1.58% of Privia Health Group worth $37,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Rhumbline Advisers grew its holdings in shares of Privia Health Group by 1.3% in the fourth quarter. Rhumbline Advisers now owns 287,200 shares of the company's stock worth $5,615,000 after purchasing an additional 3,658 shares during the last quarter. Nordea Investment Management AB boosted its position in Privia Health Group by 33.1% in the 4th quarter. Nordea Investment Management AB now owns 349,773 shares of the company's stock valued at $6,953,000 after buying an additional 86,910 shares during the period. Franklin Resources Inc. grew its stake in Privia Health Group by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,300,240 shares of the company's stock worth $23,092,000 after acquiring an additional 28,480 shares in the last quarter. Barclays PLC increased its position in shares of Privia Health Group by 240.3% during the third quarter. Barclays PLC now owns 224,018 shares of the company's stock worth $4,079,000 after acquiring an additional 158,188 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Privia Health Group by 8.4% during the third quarter. JPMorgan Chase & Co. now owns 188,384 shares of the company's stock valued at $3,430,000 after acquiring an additional 14,641 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

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Insider Activity at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 5,630 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $22.38, for a total transaction of $125,999.40. Following the sale, the chief financial officer now owns 179,676 shares of the company's stock, valued at approximately $4,021,148.88. The trade was a 3.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.20% of the stock is currently owned by corporate insiders.

Privia Health Group Trading Up 1.9 %

Shares of PRVA traded up $0.45 during midday trading on Friday, hitting $24.10. 795,763 shares of the company's stock traded hands, compared to its average volume of 787,519. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 241.02, a price-to-earnings-growth ratio of 3.47 and a beta of 0.88. Privia Health Group, Inc. has a 1 year low of $15.92 and a 1 year high of $26.04. The firm's fifty day moving average is $23.76 and its 200-day moving average is $21.49.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Macquarie initiated coverage on Privia Health Group in a research note on Monday, December 16th. They issued an "outperform" rating and a $25.00 price objective on the stock. Truist Financial increased their price target on Privia Health Group from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday. Canaccord Genuity Group lifted their price objective on Privia Health Group from $29.00 to $30.00 and gave the company a "buy" rating in a report on Friday, February 28th. Stephens reaffirmed an "overweight" rating and issued a $26.00 price objective on shares of Privia Health Group in a research note on Thursday, January 2nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $30.00 target price on shares of Privia Health Group in a research report on Thursday. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $26.87.

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.