Deerfield Management Company L.P. Series C Buys 727,384 Shares of Phreesia, Inc. (NYSE:PHR)

Deerfield Management Company L.P. Series C lifted its stake in Phreesia, Inc. (NYSE:PHR - Free Report) by 133.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,271,832 shares of the company's stock after buying an additional 727,384 shares during the period. Deerfield Management Company L.P. Series C owned about 2.19% of Phreesia worth $31,999,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PHR. Vanguard Group Inc. increased its stake in shares of Phreesia by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,823,110 shares of the company's stock valued at $121,349,000 after buying an additional 61,048 shares in the last quarter. Greenhouse Funds LLLP lifted its stake in 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 during the period. Franklin Resources Inc. boosted its holdings in Phreesia by 0.8% during the fourth quarter. Franklin Resources Inc. now owns 1,509,617 shares of the company's stock worth $37,982,000 after buying an additional 11,986 shares during the last quarter. Northern Trust Corp increased its stake in shares of Phreesia by 6.6% in the 4th quarter. Northern Trust Corp now owns 571,807 shares of the company's stock valued at $14,387,000 after acquiring an additional 35,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Phreesia by 10.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 493,448 shares of the company's stock valued at $12,415,000 after acquiring an additional 46,209 shares during the period. 92.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. DA Davidson lowered their price target on Phreesia from $36.00 to $34.00 and set a "buy" rating for the company in a report on Monday, April 14th. Needham & Company LLC restated a "buy" rating and issued a $29.00 price target on shares of Phreesia in a report on Thursday, March 13th. KeyCorp lowered their price objective on shares of Phreesia from $30.00 to $28.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Piper Sandler reiterated an "overweight" rating and set a $33.00 target price (up previously from $31.00) on shares of Phreesia in a report on Wednesday, January 29th. Finally, Canaccord Genuity Group increased their price target on Phreesia from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, March 13th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $31.33.

Insider Buying and Selling at Phreesia

In related news, CFO Balaji Gandhi sold 28,759 shares of the business's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $30.00, for a total transaction of $862,770.00. Following the sale, the chief financial officer now owns 116,174 shares in the company, valued at $3,485,220. The trade was a 19.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Evan Roberts sold 16,005 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $30.00, for a total value of $480,150.00. Following the completion of the transaction, the chief operating officer now owns 748,302 shares of the company's stock, valued at $22,449,060. This represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,640 shares of company stock valued at $3,094,167. 5.80% of the stock is currently owned by corporate insiders.

Phreesia Price Performance

Shares of NYSE:PHR traded up $0.08 during midday trading on Tuesday, hitting $26.13. The stock had a trading volume of 153,194 shares, compared to its average volume of 434,210. The company's 50-day moving average price is $25.09 and its 200-day moving average price is $24.82. The company has a market capitalization of $1.54 billion, a P/E ratio of -17.78 and a beta of 0.74. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. Phreesia, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $30.53.

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.