Phreesia (NYSE:PHR) Shares Gap Down – Here’s What Happened

Phreesia, Inc. (NYSE:PHR)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $24.95, but opened at $24.34. Phreesia shares last traded at $23.24, with a volume of 151,686 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Truist Financial raised their target price on Phreesia from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 target price on shares of Phreesia in a research note on Thursday, March 13th. Citigroup reaffirmed a “buy” rating on shares of Phreesia in a research note on Wednesday. Wall Street Zen cut Phreesia from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Finally, KeyCorp cut their price objective on shares of Phreesia from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Phreesia has an average rating of “Moderate Buy” and a consensus price target of $31.33.

Phreesia Stock Up 5.0%

The firm has a market cap of $1.45 billion, a PE ratio of -16.65 and a beta of 0.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a 50 day simple moving average of $24.87 and a 200-day simple moving average of $25.24.

Phreesia (NYSE:PHR) last posted its earnings results on Wednesday, May 28th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The business had revenue of $115.94 million during the quarter, compared to the consensus estimate of $115.00 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. Sell-side analysts predict that Phreesia, Inc. will post -1.1 EPS for the current fiscal year.

Insider Activity at Phreesia

In other news, CFO Balaji Gandhi sold 1,827 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $27.46, for a total value of $50,169.42. Following the sale, the chief financial officer now owns 103,591 shares of the company’s stock, valued at approximately $2,844,608.86. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Yvonne Hui sold 1,878 shares of Phreesia stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $23.85, for a total value of $44,790.30. Following the sale, the insider now owns 28,449 shares of the company’s stock, valued at approximately $678,508.65. This trade represents a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,474 shares of company stock worth $1,023,208. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Phreesia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Phreesia by 108.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,644,988 shares of the company’s stock valued at $67,606,000 after buying an additional 1,377,904 shares during the period. American Century Companies Inc. raised its position in Phreesia by 3,741.9% in the first quarter. American Century Companies Inc. now owns 983,440 shares of the company’s stock valued at $25,137,000 after purchasing an additional 957,842 shares during the period. Deerfield Management Company L.P. Series C increased its position in shares of 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 acquiring an additional 727,384 shares during the last quarter. Greenhouse Funds LLLP grew its stake in shares of Phreesia by 27.9% in the fourth 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. Finally, Nuveen LLC acquired a new stake in Phreesia in the 1st quarter valued at about $14,206,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

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.