Bank of New York Mellon Corp Reduces Position in Privia Health Group, Inc. $PRVA

Bank of New York Mellon Corp trimmed its position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 3.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,943,493 shares of the company’s stock after selling 102,023 shares during the quarter. Bank of New York Mellon Corp’s holdings in Privia Health Group were worth $60,548,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRVA. State of Alaska Department of Revenue lifted its stake in Privia Health Group by 1.3% in the fourth quarter. State of Alaska Department of Revenue now owns 65,747 shares of the company’s stock worth $1,558,000 after purchasing an additional 823 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Privia Health Group by 4.1% during the fourth quarter. ProShare Advisors LLC now owns 22,576 shares of the company’s stock valued at $535,000 after buying an additional 898 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Privia Health Group by 5.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 16,250 shares of the company’s stock valued at $385,000 after buying an additional 903 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Privia Health Group by 456.2% in the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock worth $27,000 after buying an additional 926 shares during the period. Finally, Bayban purchased a new stake in shares of Privia Health Group in the fourth quarter worth approximately $26,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Privia Health Group Stock Performance

Shares of NASDAQ PRVA opened at $25.37 on Thursday. Privia Health Group, Inc. has a 52-week low of $18.77 and a 52-week high of $28.82. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 158.57, a PEG ratio of 2.08 and a beta of 0.83. The stock has a 50 day moving average price of $24.31 and a 200 day moving average price of $23.31.

Insider Buying and Selling at Privia Health Group

In other news, CEO Parth Mehrotra sold 15,647 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $22.64, for a total transaction of $354,248.08. Following the transaction, the chief executive officer owned 434,357 shares of the company’s stock, valued at approximately $9,833,842.48. This represents a 3.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Matthew Shawn Morris sold 53,722 shares of the firm’s stock in a transaction on 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 transaction, the director owned 68,188 shares in the company, valued at approximately $1,857,441.12. This represents a 44.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 478,855 shares of company stock valued at $12,099,109 in the last ninety days. Corporate insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PRVA shares. Evercore set a $26.00 price objective on Privia Health Group in a report on Wednesday, April 8th. Zacks Research downgraded Privia Health Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Barclays lowered their target price on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 26th. Weiss Ratings upgraded shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Finally, Canaccord Genuity Group reduced their price target on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.15.

About Privia Health Group

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.