Corient Private Wealth LP Boosts Stake in Phreesia, Inc. $PHR

Key Points

• Corient Private Wealth increased its Phreesia stake by 451.7% in the second quarter, owning 148,290 shares worth approximately $1.53 million. Institutional investors collectively own 92.1% of the company.
• Analyst sentiment remains mixed: eight analysts rate Phreesia a Buy, ten Hold, and one Sell, resulting in a consensus Hold rating and an average price target of $14.
• Phreesia reported quarterly revenue of $129.46 million, up 10.4% year over year and slightly above estimates, but earnings per share of $0.03 missed expectations of $0.09. Shares opened at $10.18, near the midpoint of their 52-week range.

Corient Private Wealth LP boosted its holdings in shares of Phreesia, Inc. (NYSE:PHR - Free Report) by 451.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 148,290 shares of the company's stock after buying an additional 121,413 shares during the quarter. Corient Private Wealth LP owned approximately 0.24% of Phreesia worth $1,526,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PHR. Rockefeller Capital Management L.P. boosted its position in shares of Phreesia by 354.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,755 shares of the company's stock worth $47,000 after purchasing an additional 2,149 shares during the period. Diversified Trust Co grew its holdings in Phreesia by 5.8% during the 1st quarter. Diversified Trust Co now owns 54,418 shares of the company's stock valued at $456,000 after buying an additional 2,996 shares in the last quarter. EverSource Wealth Advisors LLC raised 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 valued at $27,000 after buying an additional 3,001 shares during the last quarter. Anchor Investment Management LLC raised its position in shares of Phreesia by 100.0% during the first quarter. Anchor Investment Management LLC now owns 10,000 shares of the company's stock valued at $84,000 after buying an additional 5,000 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of Phreesia in the first quarter worth $44,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PHR shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a $16.00 target price on shares of Phreesia in a research note on Thursday, September 3rd. DA Davidson reduced their price objective on Phreesia from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Friday, September 4th. Needham & Company LLC reissued a "buy" rating and issued a $14.00 target price on shares of Phreesia in a report on Monday, August 31st. Weiss Ratings downgraded shares of Phreesia from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, September 4th. Finally, Wells Fargo & Company increased their price objective on shares of Phreesia from $9.00 to $10.00 and gave the company an "equal weight" rating in a research report on Thursday, September 3rd. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $14.00.

Phreesia Stock Up 1.8%

Shares of NYSE PHR opened at $10.18 on Friday. Phreesia, Inc. has a 52-week low of $7.77 and a 52-week high of $24.25. The firm has a market capitalization of $631.56 million, a price-to-earnings ratio of 59.86 and a beta of 0.86. The stock has a 50 day moving average price of $11.09 and a 200 day moving average price of $10.27. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 1.76.

Phreesia (NYSE:PHR - Get Free Report) last issued its earnings results on Wednesday, September 2nd. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.06). Phreesia had a net margin of 2.06% and a return on equity of 5.22%. The firm had revenue of $129.46 million for the quarter, compared to the consensus estimate of $129.06 million. During the same period last year, the firm earned $0.01 earnings per share. The company's revenue for the quarter was up 10.4% on a year-over-year basis. Sell-side analysts expect that Phreesia, Inc. will post 0.33 earnings per share for the current year.

Insider Transactions at Phreesia

In other news, General Counsel Allison C. Hoffman sold 6,662 shares of the company's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $10.08, for a total value of $67,152.96. Following the completion of the sale, the general counsel owned 266,574 shares of the company's stock, valued at approximately $2,687,065.92. This represents a 2.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. 5.20% of the stock is currently owned by insiders.

Phreesia Profile

Phreesia, Inc is a healthcare technology company that provides software and services designed to help healthcare organizations manage patient intake and engagement. Its platform digitizes administrative and clinical processes that traditionally rely on paper forms, manual data entry, and separate payment systems.

The company's offerings include digital patient check-in and registration, insurance and demographic information collection, appointment-related communications, electronic forms and consent management, patient surveys, and payment processing.

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