Granahan Investment Management LLC Sells 1,412,006 Shares of Phreesia, Inc. $PHR

Granahan Investment Management LLC lessened its stake in Phreesia, Inc. (NYSE:PHR) by 58.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 987,607 shares of the company’s stock after selling 1,412,006 shares during the quarter. Granahan Investment Management LLC owned approximately 1.63% of Phreesia worth $8,276,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PHR. Pale Fire Capital SE bought a new stake in Phreesia in the 1st quarter valued at $72,481,000. Arrowstreet Capital Limited Partnership purchased a new stake in Phreesia in the 1st quarter worth $376,000. Inceptionr LLC bought a new position in shares of Phreesia during the 1st quarter valued at about $88,000. Sei Investments Co. boosted its holdings in shares of Phreesia by 20.7% during the 1st quarter. Sei Investments Co. now owns 137,622 shares of the company’s stock valued at $1,153,000 after purchasing an additional 23,560 shares during the last quarter. Finally, Globeflex Capital L P grew its position in shares of Phreesia by 124.0% during the first quarter. Globeflex Capital L P now owns 22,552 shares of the company’s stock valued at $189,000 after purchasing an additional 12,482 shares in the last quarter. Institutional investors own 92.10% of the company’s stock.

Phreesia Stock Up 4.3%

NYSE PHR opened at $10.22 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average of $9.86 and a two-hundred day moving average of $11.14. The firm has a market capitalization of $631.53 million, a price-to-earnings ratio of 68.11 and a beta of 0.87. Phreesia, Inc. has a 52 week low of $7.77 and a 52 week high of $32.76.

Phreesia (NYSE:PHR) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Phreesia had a net margin of 1.85% and a return on equity of 5.13%. The business had revenue of $130.94 million for the quarter, compared to analysts’ expectations of $130.08 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. On average, analysts predict that Phreesia, Inc. will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PHR. BMO Capital Markets reduced their target price on Phreesia from $32.00 to $14.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Stephens dropped their price target on Phreesia from $32.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Robert W. Baird restated a “neutral” rating and set a $10.00 price target (down from $25.00) on shares of Phreesia in a report on Tuesday, March 31st. DA Davidson reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Phreesia in a research note on Thursday, May 28th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $9.00 price objective (down from $15.00) on shares of Phreesia in a research note on Wednesday, May 20th. Nine analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.65.

About Phreesia

Phreesia, Inc (NYSE: PHR) is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company’s cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.