Short Interest in Phreesia, Inc. (NYSE:PHR) Drops By 17.6%

Phreesia, Inc. (NYSE:PHR) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 2,060,000 shares, a decline of 17.6% from the February 13th total of 2,500,000 shares. Approximately 3.8% of the shares of the company are sold short. Based on an average daily volume of 412,300 shares, the short-interest ratio is presently 5.0 days.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. KeyCorp increased 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. Truist Financial increased their target price on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. JMP Securities reiterated a “market outperform” rating and issued a $30.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a report on Thursday, March 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $33.00 price target (up from $31.00) on shares of Phreesia in a research note on Wednesday, January 29th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $31.33.

Insider Buying and Selling at Phreesia

In other Phreesia news, CFO Balaji Gandhi sold 3,195 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $26.61, for a total value of $85,018.95. Following the completion of the transaction, the chief financial officer now owns 148,509 shares in the company, valued at approximately $3,951,824.49. This represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Allison C. Hoffman sold 3,496 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.32, for a total value of $88,518.72. Following the completion of the transaction, the general counsel now directly owns 139,134 shares of the company’s stock, valued at $3,522,872.88. This trade represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 162,403 shares of company stock worth $4,610,249 over the last 90 days. Insiders own 5.80% of the company’s stock.

Institutional Trading of Phreesia

Several institutional investors have recently made changes to their positions in PHR. Deerfield Management Company L.P. Series C boosted its position in Phreesia by 133.6% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 1,271,832 shares of the company’s stock valued at $31,999,000 after purchasing an additional 727,384 shares during the last quarter. Greenhouse Funds LLLP grew its stake in shares of Phreesia by 27.9% in the 4th quarter. Greenhouse Funds LLLP now owns 2,873,892 shares of the company’s stock valued at $72,307,000 after buying an additional 626,579 shares in the last quarter. Park West Asset Management LLC acquired a new position in Phreesia in the fourth quarter worth approximately $10,657,000. Millennium Management LLC raised its position in Phreesia by 83.2% during the fourth quarter. Millennium Management LLC now owns 653,634 shares of the company’s stock valued at $16,445,000 after acquiring an additional 296,863 shares in the last quarter. Finally, ExodusPoint Capital Management LP raised its position in Phreesia by 448.6% during the fourth quarter. ExodusPoint Capital Management LP now owns 174,971 shares of the company’s stock valued at $4,402,000 after acquiring an additional 143,077 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

Phreesia Stock Down 4.1 %

Shares of Phreesia stock traded down $1.19 during midday trading on Thursday, hitting $27.81. The company’s stock had a trading volume of 270,288 shares, compared to its average volume of 415,118. Phreesia has a 1-year low of $17.07 and a 1-year high of $30.53. The firm has a market capitalization of $1.63 billion, a P/E ratio of -18.90 and a beta of 1.03. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The stock has a 50-day simple moving average of $27.33 and a 200-day simple moving average of $24.04.

About Phreesia

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.