Granahan Investment Management LLC Acquires 1,018,987 Shares of Phreesia, Inc. $PHR

Granahan Investment Management LLC lifted its holdings in shares of Phreesia, Inc. (NYSE:PHR - Free Report) by 73.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,399,613 shares of the company's stock after acquiring an additional 1,018,987 shares during the quarter. Phreesia makes up about 1.7% of Granahan Investment Management LLC's portfolio, making the stock its 17th biggest holding. Granahan Investment Management LLC owned 3.98% of Phreesia worth $40,601,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Phreesia by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,744,326 shares of the company's stock worth $97,194,000 after acquiring an additional 39,540 shares during the period. Greenhouse Funds LLLP boosted its stake in shares of Phreesia by 16.8% during the 3rd quarter. Greenhouse Funds LLLP now owns 3,882,527 shares of the company's stock worth $91,317,000 after acquiring an additional 557,265 shares during the period. Franklin Resources Inc. boosted its stake in shares of Phreesia by 28.8% during the 4th quarter. Franklin Resources Inc. now owns 2,000,082 shares of the company's stock worth $33,841,000 after acquiring an additional 446,890 shares during the period. Nuveen LLC boosted its stake in shares of Phreesia by 12.7% during the 4th quarter. Nuveen LLC now owns 1,875,725 shares of the company's stock worth $31,737,000 after acquiring an additional 211,262 shares during the period. Finally, State Street Corp boosted its stake in shares of Phreesia by 1.6% during the 4th quarter. State Street Corp now owns 1,456,606 shares of the company's stock worth $24,646,000 after acquiring an additional 22,399 shares during the period. 92.10% of the stock is currently owned by institutional investors.

More Phreesia News

Here are the key news stories impacting Phreesia this week:

• Neutral Sentiment: Multiple law firms, including Rosen, Faruqi & Faruqi, Pomerantz, The Gross Law Firm, Bragar Eagel & Squire, Levi & Korsinsky, and others, issued reminders about the pending Phreesia securities class action and the July 13 lead-plaintiff deadline. These notices may keep pressure on the shares by highlighting legal risk and uncertainty. Article: Phreesia Deadline Alert
• Neutral Sentiment: One recent commentary piece said Phreesia was downgraded because its growth outlook is worsening, reinforcing concerns that the company’s longer-term expansion may slow. Article: Phreesia rating downgrade as growth outlook worsens

Insider Transactions at Phreesia

In other Phreesia news, General Counsel Allison C. Hoffman sold 14,483 shares of the company's stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $8.07, for a total value of $116,877.81. Following the sale, the general counsel owned 163,485 shares in the company, valued at approximately $1,319,323.95. The trade was a 8.14% decrease in their position. The transaction was disclosed in a filing with the SEC, 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. Also, CFO Balaji Gandhi sold 3,829 shares of the company's stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $11.26, for a total value of $43,114.54. Following the completion of the sale, the chief financial officer owned 146,740 shares in the company, valued at $1,652,292.40. This trade represents a 2.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 50,386 shares of company stock worth $460,799 in the last 90 days. 5.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Mizuho dropped their price target on Phreesia from $22.00 to $19.00 and set an "outperform" rating for the company in a report on Tuesday, March 24th. Piper Sandler cut Phreesia from an "overweight" rating to a "neutral" rating and set a $12.00 price target for the company. in a report on Thursday, May 28th. Barclays reissued an "equal weight" rating and set a $10.00 price target (down from $24.00) on shares of Phreesia in a report on Thursday, May 14th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $16.00 price target (down from $24.00) on shares of Phreesia in a report on Tuesday, March 31st. Finally, BMO Capital Markets dropped their price target on Phreesia from $32.00 to $14.00 and set an "outperform" rating for the company in a report on Tuesday, March 31st. Nine investment 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. According to MarketBeat, Phreesia currently has a consensus rating of "Hold" and an average target price of $16.65.

Phreesia Price Performance

Shares of NYSE PHR opened at $9.43 on Wednesday. The stock has a market capitalization of $582.95 million, a PE ratio of 62.87 and a beta of 0.91. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.76 and a quick ratio of 1.76. The business has a fifty day moving average price of $9.24 and a two-hundred day moving average price of $12.55. Phreesia, Inc. has a fifty-two week low of $7.77 and a fifty-two week high of $32.76.

Phreesia (NYSE:PHR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. Phreesia had a return on equity of 5.13% and a net margin of 1.85%.The company had revenue of $130.94 million during the quarter, compared to analysts' expectations of $130.08 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. Phreesia's revenue was up 12.9% on a year-over-year basis. As a group, equities analysts predict that Phreesia, Inc. will post 0.35 earnings per share for the current fiscal year.

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.

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