Envestnet Portfolio Solutions Inc. Acquires 4,435 Shares of Privia Health Group, Inc. (NASDAQ:PRVA)

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 25.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,891 shares of the company’s stock after acquiring an additional 4,435 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Privia Health Group were worth $504,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Covestor Ltd raised its holdings in Privia Health Group by 8.3% in the third quarter. Covestor Ltd now owns 6,703 shares of the company’s stock worth $154,000 after buying an additional 514 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of Privia Health Group by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 52,628 shares of the company’s stock valued at $1,212,000 after purchasing an additional 563 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Privia Health Group by 2.7% during the third quarter. New York State Common Retirement Fund now owns 27,966 shares of the company’s stock valued at $643,000 after purchasing an additional 737 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Privia Health Group by 0.9% during the third quarter. Glenmede Trust Co. NA now owns 107,711 shares of the company’s stock valued at $2,477,000 after purchasing an additional 976 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in shares of Privia Health Group by 44.9% during the fourth quarter. Benjamin Edwards Inc. now owns 3,239 shares of the company’s stock valued at $75,000 after purchasing an additional 1,003 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Insider Buying and Selling

In related news, CFO David Mountcastle sold 3,933 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total transaction of $69,889.41. Following the completion of the transaction, the chief financial officer now owns 262,279 shares in the company, valued at $4,660,697.83. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO David Mountcastle sold 3,933 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total transaction of $69,889.41. Following the completion of the transaction, the chief financial officer now owns 262,279 shares in the company, valued at $4,660,697.83. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Parth Mehrotra sold 13,869 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $17.88, for a total transaction of $247,977.72. Following the transaction, the chief executive officer now owns 247,771 shares of the company’s stock, valued at approximately $4,430,145.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,390 shares of company stock worth $897,700. 14.20% of the stock is owned by insiders.

Privia Health Group Price Performance

PRVA opened at $16.44 on Thursday. The company has a 50 day simple moving average of $18.55 and a two-hundred day simple moving average of $20.70. Privia Health Group, Inc. has a 1-year low of $15.92 and a 1-year high of $29.42. The firm has a market cap of $1.96 billion, a P/E ratio of 109.60, a PEG ratio of 2.38 and a beta of 0.81.

Privia Health Group (NASDAQ:PRVA) last issued its earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Privia Health Group had a return on equity of 3.13% and a net margin of 1.11%. The company had revenue of $440.80 million for the quarter, compared to the consensus estimate of $425.81 million. During the same quarter in the prior year, the company posted $0.14 EPS. Privia Health Group’s revenue was up 21.0% compared to the same quarter last year. Equities analysts anticipate that Privia Health Group, Inc. will post 0.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PRVA has been the subject of several research reports. Citigroup initiated coverage on shares of Privia Health Group in a report on Monday, April 22nd. They set a “buy” rating and a $25.00 price objective for the company. Stifel Nicolaus decreased their price objective on shares of Privia Health Group from $28.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. decreased their price objective on shares of Privia Health Group from $38.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, March 6th. Canaccord Genuity Group decreased their price objective on shares of Privia Health Group from $37.00 to $26.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, Bank of America cut shares of Privia Health Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $27.00 to $21.00 in a report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.08.

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.