Edgestream Partners L.P. Buys Shares of 138,406 Privia Health Group, Inc. $PRVA

Edgestream Partners L.P. purchased a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 138,406 shares of the company’s stock, valued at approximately $2,847,000. Edgestream Partners L.P. owned about 0.11% of Privia Health Group as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in shares of 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 in the last quarter. PNC Financial Services Group Inc. grew its position in Privia Health Group by 8.8% in the first quarter. PNC Financial Services Group Inc. now owns 10,361 shares of the company’s stock valued at $213,000 after purchasing an additional 840 shares in the last quarter. ProShare Advisors LLC grew its position in Privia Health Group by 4.1% in the fourth quarter. ProShare Advisors LLC now owns 22,576 shares of the company’s stock valued at $535,000 after purchasing an additional 898 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Privia Health Group by 5.9% in the 4th 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. Finally, Hantz Financial Services Inc. increased its stake in Privia Health Group by 456.2% in the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after buying an additional 926 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Privia Health Group news, CEO Parth Mehrotra sold 105,439 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $22.55, for a total transaction of $2,377,649.45. Following the transaction, the chief executive officer owned 450,004 shares of the company’s stock, valued at $10,147,590.20. The trade was a 18.98% decrease in their ownership of the stock. The sale was disclosed in a 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Matthew Shawn Morris sold 88,110 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $25.33, for a total value of $2,231,826.30. Following the completion of the sale, the director owned 76,651 shares in the company, valued at $1,941,569.83. This represents a 53.48% decrease in their position. 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. Over the last 90 days, insiders sold 454,580 shares of company stock worth $11,492,189. Company insiders own 5.70% of the company’s stock.

Analyst Ratings Changes

PRVA has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Zacks Research cut Privia Health Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Canaccord Genuity Group lowered their target price on Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Citigroup reiterated a “buy” rating on shares of Privia Health Group in a report on Thursday, July 23rd. Finally, Barclays reduced their price target on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.15.

Privia Health Group Stock Performance

Shares of PRVA stock opened at $23.67 on Friday. The firm’s 50-day moving average is $24.51 and its 200-day moving average is $23.35. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 147.95, a PEG ratio of 1.87 and a beta of 0.83. Privia Health Group, Inc. has a 52-week low of $18.77 and a 52-week high of $28.82.

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.