BlackRock Inc. Purchases Shares of 7,019,832 Phreesia, Inc. $PHR

Key Points

• BlackRock acquired 7,019,832 Phreesia shares during the second quarter, worth approximately $72.2 million, giving it an 11.36% ownership stake.
• Institutional investors own 92.10% of Phreesia, with several firms recently increasing or initiating positions.
• Phreesia shares opened at $12.17, while analysts maintain an overall “Hold” rating with an average price target of $16.65; ratings remain mixed, including recent downgrades and upgrades.

BlackRock Inc. purchased a new stake in Phreesia, Inc. (NYSE:PHR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,019,832 shares of the company's stock, valued at approximately $72,234,000. BlackRock Inc. owned 11.36% of Phreesia as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its position in Phreesia by 78.7% in the 4th quarter. Van ECK Associates Corp now owns 2,502 shares of the company's stock valued at $42,000 after buying an additional 1,102 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Phreesia by 354.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,755 shares of the company's stock valued at $47,000 after buying an additional 2,149 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Phreesia by 1,119.8% during the first quarter. EverSource Wealth Advisors LLC now owns 3,269 shares of the company's stock worth $27,000 after buying an additional 3,001 shares in the last quarter. Garner Asset Management Corp bought a new position in Phreesia during the 4th quarter valued at $81,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Phreesia in the 1st quarter worth about $44,000. 92.10% of the stock is owned by hedge funds and other institutional investors.

Phreesia Trading Up 0.2%

NYSE PHR opened at $12.17 on Monday. Phreesia, Inc. has a twelve month low of $7.77 and a twelve month high of $32.74. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.76 and a current ratio of 1.76. The stock has a market cap of $752.23 million, a price-to-earnings ratio of 81.13 and a beta of 0.85. The firm's 50 day moving average price is $11.03 and its two-hundred day moving average price is $10.48.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PHR shares. Piper Sandler downgraded shares of Phreesia from an "overweight" rating to a "neutral" rating and set a $12.00 price target on the stock. in a research report on Thursday, May 28th. Wall Street Zen upgraded shares of Phreesia from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. Truist Financial raised their price target on shares of Phreesia from $11.00 to $12.00 and gave the company a "hold" rating in a research note on Thursday, May 28th. Weiss Ratings upgraded Phreesia from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, July 20th. Finally, Barclays reissued an "equal weight" rating and issued a $10.00 price objective (down from $24.00) on shares of Phreesia in a report on Thursday, May 14th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $16.65.

Phreesia Company 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.

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