Phreesia, Inc. (NYSE:PHR) Stake Lessened by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC decreased its position in shares of Phreesia, Inc. (NYSE:PHR) by 12.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,738 shares of the company’s stock after selling 15,111 shares during the period. Essex Investment Management Co. LLC owned 0.18% of Phreesia worth $2,585,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Versor Investments LP bought a new position in shares of Phreesia during the 3rd quarter valued at about $694,000. Zacks Investment Management acquired a new stake in Phreesia during the third quarter valued at approximately $631,000. State Street Corp lifted its stake in Phreesia by 7.1% during the third quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after purchasing an additional 88,517 shares during the last quarter. Wesbanco Bank Inc. boosted its holdings in Phreesia by 76.9% during the fourth quarter. Wesbanco Bank Inc. now owns 46,000 shares of the company’s stock worth $1,157,000 after buying an additional 20,000 shares in the last quarter. Finally, Barclays PLC grew its position in Phreesia by 83.6% in the third quarter. Barclays PLC now owns 94,929 shares of the company’s stock worth $2,163,000 after buying an additional 43,225 shares during the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $24.00 to $32.00 in a research report on Wednesday, January 8th. Robert W. Baird reduced their target price on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. KeyCorp lifted their price target on Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and set a $29.00 price objective on shares of Phreesia in a report on Friday, January 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $30.00 target price on shares of Phreesia in a report on Tuesday, December 10th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $31.15.

Phreesia Stock Performance

Shares of PHR opened at $23.69 on Monday. The company has a market capitalization of $1.38 billion, a PE ratio of -16.12 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74. The company’s 50 day moving average price is $27.45 and its 200 day moving average price is $24.02. Phreesia, Inc. has a 52 week low of $17.07 and a 52 week high of $30.53.

Phreesia (NYSE:PHR) last posted its quarterly earnings results on Monday, December 9th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The business had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $106.33 million. During the same period in the previous year, the company posted ($0.58) EPS. Phreesia’s revenue was up 16.6% on a year-over-year basis. Research analysts expect that Phreesia, Inc. will post -1.1 EPS for the current fiscal year.

Insider Activity at Phreesia

In related news, COO Evan Roberts sold 3,519 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $30.06, for a total transaction of $105,781.14. Following the transaction, the chief operating officer now owns 741,197 shares of the company’s stock, valued at approximately $22,280,381.82. This trade represents a 0.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Balaji Gandhi sold 28,759 shares of Phreesia stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $30.00, for a total transaction of $862,770.00. Following the completion of the sale, the chief financial officer now owns 116,174 shares of the company’s stock, valued at $3,485,220. This trade represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,740 shares of company stock valued at $5,441,409. Insiders own 5.80% of the company’s stock.

Phreesia Company Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.