Arizona State Retirement System Buys Shares of 18,712 Privia Health Group, Inc. (NASDAQ:PRVA)

Arizona State Retirement System acquired a new stake in Privia Health Group, Inc. (NASDAQ:PRVA – Get Rating) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 18,712 shares of the company’s stock, valued at approximately $500,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Rockefeller Capital Management L.P. purchased a new stake in shares of Privia Health Group in the 4th quarter valued at $25,000. First Horizon Advisors Inc. purchased a new stake in shares of Privia Health Group in the 4th quarter valued at $26,000. FourThought Financial LLC raised its holdings in shares of Privia Health Group by 77.2% in the 1st quarter. FourThought Financial LLC now owns 2,417 shares of the company’s stock valued at $65,000 after buying an additional 1,053 shares during the period. Gleason Group Inc. purchased a new stake in shares of Privia Health Group in the 1st quarter valued at $57,000. Finally, Fifth Third Bancorp purchased a new stake in shares of Privia Health Group in the 4th quarter valued at $68,000. Hedge funds and other institutional investors own 63.77% of the company’s stock.

Privia Health Group Trading Up 0.5 %

NASDAQ:PRVA opened at $38.52 on Thursday. The stock has a 50-day simple moving average of $30.43 and a 200-day simple moving average of $26.18. The stock has a market cap of $4.18 billion, a P/E ratio of -18.88 and a beta of 1.17. Privia Health Group, Inc. has a 1 year low of $17.99 and a 1 year high of $40.38. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.24 and a current ratio of 2.24.

Privia Health Group (NASDAQ:PRVA – Get Rating) last announced its earnings results on Thursday, May 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.15. The firm had revenue of $313.80 million during the quarter, compared to analysts’ expectations of $296.36 million. Privia Health Group had a negative return on equity of 47.87% and a negative net margin of 19.80%. As a group, analysts anticipate that Privia Health Group, Inc. will post -0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PRVA. Truist Financial upped their price target on Privia Health Group from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 14th. BTIG Research began coverage on Privia Health Group in a report on Thursday, April 28th. They set a “buy” rating and a $35.00 price target on the stock. Bank of America began coverage on Privia Health Group in a report on Tuesday, May 3rd. They set a “buy” rating and a $27.00 price target on the stock. Finally, Canaccord Genuity Group upped their price target on Privia Health Group from $29.00 to $40.00 in a report on Wednesday, June 29th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $38.30.

Insider Activity at Privia Health Group

In related news, EVP Thomas Bartrum sold 10,000 shares of the company’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $25.01, for a total value of $250,100.00. Following the completion of the sale, the executive vice president now directly owns 91,355 shares of the company’s stock, valued at approximately $2,284,788.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Privia Health Group news, COO Parth Mehrotra sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $29.22, for a total transaction of $1,753,200.00. Following the completion of the sale, the chief operating officer now directly owns 97,391 shares of the company’s stock, valued at approximately $2,845,765.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas Bartrum sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $25.01, for a total value of $250,100.00. Following the sale, the executive vice president now directly owns 91,355 shares of the company’s stock, valued at $2,284,788.55. The disclosure for this sale can be found here. Insiders sold a total of 613,327 shares of company stock valued at $19,443,342 in the last three months. 57.60% of the stock is currently owned by company insiders.

About Privia Health Group

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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.

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