OP Asset Management Ltd Buys Shares of 774,144 Phreesia, Inc. $PHR

OP Asset Management Ltd purchased a new position in Phreesia, Inc. (NYSE:PHR) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 774,144 shares of the company’s stock, valued at approximately $6,487,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Raymond James Financial Inc. lifted its holdings in shares of Phreesia by 2.7% during the 2nd quarter. Raymond James Financial Inc. now owns 14,049 shares of the company’s stock worth $400,000 after acquiring an additional 375 shares during the last quarter. Alliancebernstein L.P. raised its position in Phreesia by 1.3% during the third quarter. Alliancebernstein L.P. now owns 62,712 shares of the company’s stock valued at $1,475,000 after purchasing an additional 812 shares in the last quarter. Van ECK Associates Corp lifted its stake in Phreesia by 78.7% during the fourth quarter. Van ECK Associates Corp now owns 2,502 shares of the company’s stock worth $42,000 after purchasing an additional 1,102 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Phreesia by 2.4% in the 4th quarter. Deutsche Bank AG now owns 66,288 shares of the company’s stock worth $1,122,000 after purchasing an additional 1,540 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Phreesia by 83.4% during the 4th quarter. KBC Group NV now owns 3,449 shares of the company’s stock valued at $58,000 after purchasing an additional 1,568 shares during the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.

Insider Transactions at Phreesia

In other Phreesia news, insider David Linetsky sold 8,332 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $8.07, for a total value of $67,239.24. Following the completion of the sale, the insider owned 224,056 shares in the company, valued at approximately $1,808,131.92. This trade represents a 3.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Yvonne Hui sold 10,063 shares of Phreesia stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $9.08, for a total value of $91,372.04. Following the completion of the sale, the insider owned 25,991 shares in the company, valued at approximately $235,998.28. This represents a 27.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 40,381 shares of company stock worth $343,758. Company insiders own 5.20% of the company’s stock.

Phreesia Stock Performance

NYSE:PHR opened at $9.12 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.76 and a current ratio of 1.76. Phreesia, Inc. has a fifty-two week low of $7.77 and a fifty-two week high of $32.76. The firm has a market cap of $564.02 million, a PE ratio of 60.83 and a beta of 0.91. The business has a 50 day moving average price of $9.33 and a 200-day moving average price of $12.01.

Phreesia (NYSE:PHR) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $130.94 million during the quarter, compared to analyst estimates of $130.08 million. Phreesia had a net margin of 1.85% and a return on equity of 5.13%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) EPS. Equities research analysts predict that Phreesia, Inc. will post 0.35 earnings per share for the current year.

Key Headlines Impacting Phreesia

Here are the key news stories impacting Phreesia this week:

• Positive Sentiment: At Phreesia’s annual meeting, shareholders reportedly backed the company’s leadership and governance, a sign of internal support despite the ongoing legal headlines.
• Neutral Sentiment: Brokerage coverage was noted as a “Hold,” which suggests Wall Street is not seeing a strong near-term catalyst either way.
• Negative Sentiment: Several law firms reiterated class action claims against Phreesia and urged investors to join the lawsuit or seek lead-plaintiff status, keeping legal risk front and center for the stock.
• Negative Sentiment: The repeated notices focus attention on alleged securities-law violations during the class period, which may continue to pressure investor confidence until the case progresses.

Analyst Ratings Changes

A number of analysts recently weighed in on PHR shares. BMO Capital Markets dropped their target price on Phreesia from $32.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $16.00 price objective (down from $24.00) on shares of Phreesia in a report on Tuesday, March 31st. Barclays reaffirmed an “equal weight” rating and issued a $10.00 price objective (down from $24.00) on shares of Phreesia in a research note on Thursday, May 14th. Piper Sandler cut shares of Phreesia from an “overweight” rating to a “neutral” rating and set a $12.00 target price on the stock. in a research report on Thursday, May 28th. Finally, Citizens Jmp restated a “market perform” rating on shares of Phreesia in a research report on Wednesday, April 1st. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.65.

Phreesia Profile

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.