Bridgewater Associates LP Sells 45,829 Shares of Privia Health Group, Inc. (NASDAQ:PRVA)

Bridgewater Associates LP cut its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 52.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,115 shares of the company’s stock after selling 45,829 shares during the period. Bridgewater Associates LP’s holdings in Privia Health Group were worth $749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC increased its holdings in Privia Health Group by 2.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 26,246 shares of the company’s stock worth $478,000 after acquiring an additional 583 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Privia Health Group by 8.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,695 shares of the company’s stock worth $134,000 after purchasing an additional 605 shares during the period. Arizona State Retirement System raised its position in shares of Privia Health Group by 2.4% in the second quarter. Arizona State Retirement System now owns 26,574 shares of the company’s stock worth $462,000 after buying an additional 617 shares in the last quarter. Signaturefd LLC boosted its stake in Privia Health Group by 46.3% during the second quarter. Signaturefd LLC now owns 1,978 shares of the company’s stock valued at $34,000 after buying an additional 626 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in Privia Health Group by 9.7% during the second quarter. Parkside Financial Bank & Trust now owns 8,684 shares of the company’s stock valued at $151,000 after buying an additional 771 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.

Privia Health Group Price Performance

PRVA opened at $22.31 on Tuesday. The stock’s 50 day simple moving average is $19.24 and its 200 day simple moving average is $18.71. Privia Health Group, Inc. has a 1 year low of $15.92 and a 1 year high of $24.30. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 223.10, a PEG ratio of 5.40 and a beta of 0.76.

Insiders Place Their Bets

In related news, CEO Parth Mehrotra sold 135,142 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 247,771 shares of the company’s stock, valued at $4,583,763.50. This trade represents a 35.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 14.20% of the company’s stock.

Wall Street Analyst Weigh In

PRVA has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Privia Health Group in a report on Wednesday, August 14th. Robert W. Baird lifted their target price on shares of Privia Health Group from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Monday, August 26th. KeyCorp began coverage on shares of Privia Health Group in a research note on Friday, October 11th. They issued an “overweight” rating and a $23.00 price target for the company. Barclays raised their price objective on shares of Privia Health Group from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Privia Health Group from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Privia Health Group presently has a consensus rating of “Buy” and an average price target of $24.93.

About Privia Health Group

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.