Cinctive Capital Management LP Takes Position in Privia Health Group, Inc. (NASDAQ:PRVA)

Cinctive Capital Management LP acquired a new stake in Privia Health Group, Inc. (NASDAQ:PRVA) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 139,305 shares of the company’s stock, valued at approximately $2,723,000.

A number of other large investors also recently modified their holdings of the company. Riverbridge Partners LLC lifted its stake in Privia Health Group by 19.7% in the 4th quarter. Riverbridge Partners LLC now owns 5,824,458 shares of the company’s stock worth $113,868,000 after purchasing an additional 958,418 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Privia Health Group by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,415,022 shares of the company’s stock valued at $43,986,000 after acquiring an additional 23,178 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Privia Health Group by 55.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,418,234 shares of the company’s stock valued at $27,727,000 after acquiring an additional 503,002 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Privia Health Group by 0.8% during the fourth quarter. Franklin Resources Inc. now owns 1,311,166 shares of the company’s stock worth $25,633,000 after purchasing an additional 10,926 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Privia Health Group by 6.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,133,873 shares of the company’s stock worth $22,167,000 after purchasing an additional 69,649 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on PRVA shares. Macquarie started coverage on shares of Privia Health Group in a research note on Monday, December 16th. They issued an “outperform” rating and a $25.00 price target for the company. Piper Sandler increased their target price on Privia Health Group from $25.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. JMP Securities set a $29.00 price target on Privia Health Group in a research note on Friday, February 28th. Stephens reiterated an “overweight” rating and issued a $26.00 price objective on shares of Privia Health Group in a report on Thursday, January 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective on shares of Privia Health Group in a report on Friday, March 21st. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Privia Health Group has a consensus rating of “Buy” and a consensus target price of $26.67.

Privia Health Group Stock Down 2.3 %

Shares of NASDAQ PRVA opened at $22.36 on Thursday. The firm’s fifty day moving average is $23.80 and its 200 day moving average is $21.26. Privia Health Group, Inc. has a 52 week low of $15.92 and a 52 week high of $26.04. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 223.62, a PEG ratio of 3.47 and a beta of 0.85.

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.