Point72 Asia Singapore Pte. Ltd. Decreases Stake in Privia Health Group, Inc. (NASDAQ:PRVA)

Point72 Asia Singapore Pte. Ltd. reduced its position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 71.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,052 shares of the company’s stock after selling 7,466 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Privia Health Group were worth $53,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Canada Pension Plan Investment Board purchased a new stake in Privia Health Group during the 2nd quarter valued at $26,000. Nisa Investment Advisors LLC grew its position in Privia Health Group by 107.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,795 shares of the company’s stock valued at $31,000 after acquiring an additional 930 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Privia Health Group by 46.3% in the second quarter. Signaturefd LLC now owns 1,978 shares of the company’s stock worth $34,000 after purchasing an additional 626 shares during the last quarter. Park Place Capital Corp increased its stake in Privia Health Group by 115.4% in the 1st quarter. Park Place Capital Corp now owns 2,492 shares of the company’s stock worth $49,000 after buying an additional 1,335 shares during the period. Finally, Covestor Ltd raised its stake in shares of Privia Health Group by 25.5% during the first quarter. Covestor Ltd now owns 5,292 shares of the company’s stock valued at $104,000 after acquiring an additional 1,076 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors.

Insider Activity at Privia Health Group

In related news, CEO Parth Mehrotra sold 135,142 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $18.50, for a total value of $2,500,127.00. Following the sale, the chief executive officer now owns 247,771 shares in the company, valued at approximately $4,583,763.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 14.20% of the company’s stock.

Wall Street Analysts Forecast Growth

PRVA has been the topic of several recent research reports. Robert W. Baird increased their target price on shares of Privia Health Group from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, August 26th. Evercore ISI dropped their price target on Privia Health Group from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $28.00 target price on shares of Privia Health Group in a research report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.86.

Privia Health Group Stock Performance

NASDAQ:PRVA opened at $18.21 on Tuesday. Privia Health Group, Inc. has a 1 year low of $15.92 and a 1 year high of $24.35. The stock has a market cap of $2.17 billion, a P/E ratio of 121.40, a P/E/G ratio of 4.24 and a beta of 0.77. The stock has a 50-day simple moving average of $19.43 and a 200-day simple moving average of $18.50.

Privia Health Group (NASDAQ:PRVA) last announced its earnings results on Thursday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Privia Health Group had a return on equity of 2.42% and a net margin of 0.88%. The business had revenue of $422.30 million for the quarter, compared to analysts’ expectations of $411.50 million. During the same quarter last year, the business posted $0.06 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts predict that Privia Health Group, Inc. will post 0.16 EPS for the current year.

Privia Health Group Company 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.