Hsbc Holdings PLC Sells 46,416 Shares of Privia Health Group, Inc. $PRVA

Hsbc Holdings PLC decreased its position in Privia Health Group, Inc. (NASDAQ:PRVA) by 55.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,851 shares of the company’s stock after selling 46,416 shares during the quarter. Hsbc Holdings PLC’s holdings in Privia Health Group were worth $774,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRVA. Bayban bought a new stake in shares of Privia Health Group in the fourth quarter worth about $26,000. Hantz Financial Services Inc. raised its position in Privia Health Group by 456.2% during the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after purchasing an additional 926 shares during the last quarter. Global Retirement Partners LLC raised its position in Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock valued at $38,000 after purchasing an additional 1,351 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Privia Health Group by 48.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock worth $85,000 after buying an additional 1,200 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Privia Health Group in the 4th quarter worth approximately $93,000. 94.48% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Matthew Shawn Morris sold 53,722 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $27.24, for a total value of $1,463,387.28. Following the completion of the transaction, the director directly owned 68,188 shares in the company, valued at $1,857,441.12. This trade represents a 44.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 21,275 shares of Privia Health Group stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $27.67, for a total transaction of $588,679.25. Following the transaction, the chief financial officer directly owned 164,853 shares of the company’s stock, valued at approximately $4,561,482.51. This trade represents a 11.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 478,855 shares of company stock worth $12,099,109. Corporate insiders own 5.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings raised Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Evercore set a $26.00 price target on Privia Health Group in a research note on Wednesday, April 8th. Zacks Research cut shares of Privia Health Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Citigroup reissued a “buy” rating on shares of Privia Health Group in a research report on Thursday, July 23rd. Finally, Canaccord Genuity Group decreased their price objective on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating for the company in a report on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.15.

Privia Health Group Stock Down 2.9%

Shares of PRVA stock opened at $24.12 on Thursday. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 150.76, a PEG ratio of 1.96 and a beta of 0.83. The business’s fifty day moving average is $24.47 and its 200 day moving average is $23.34. Privia Health Group, Inc. has a twelve month low of $18.77 and a twelve month high of $28.82.

Privia Health Group Profile

Privia Health Group (NASDAQ: PRVA) is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.

Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.