Granahan Investment Management LLC Sells 315,163 Shares of Phreesia, Inc. $PHR

Key Points

• Granahan Investment Management LLC reduced its stake in Phreesia, Inc. by 21.7%, selling 315,163 shares and now holding about 1.4% of its portfolio in the company.
• Phreesia's stock has seen multiple price target changes from analysts, with Truist Financial raising their target to $35.00 and KeyCorp increasing theirs to $35.00 as well.
• Phreesia reported earnings of $0.01 per share, surpassing estimates and demonstrating a 14.9% year-over-year revenue growth, with a quarterly revenue of $117.26 million.

Granahan Investment Management LLC lowered its holdings in shares of Phreesia, Inc. (NYSE:PHR - Free Report) by 21.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,138,557 shares of the company's stock after selling 315,163 shares during the period. Phreesia comprises 1.4% of Granahan Investment Management LLC's holdings, making the stock its 19th largest holding. Granahan Investment Management LLC owned about 1.94% of Phreesia worth $29,102,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. KBC Group NV purchased a new position in shares of Phreesia in the first quarter worth about $74,000. CWM LLC raised its stake in Phreesia by 994.9% during the 1st quarter. CWM LLC now owns 4,040 shares of the company's stock worth $103,000 after acquiring an additional 3,671 shares during the period. Smartleaf Asset Management LLC increased its position in Phreesia by 53.0% in the first quarter. Smartleaf Asset Management LLC now owns 5,267 shares of the company's stock worth $137,000 after purchasing an additional 1,825 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Phreesia by 1,023.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,660 shares of the company's stock valued at $142,000 after acquiring an additional 5,156 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Phreesia by 10,605.7% during the first quarter. GAMMA Investing LLC now owns 5,674 shares of the company's stock valued at $145,000 after acquiring an additional 5,621 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

Phreesia Stock Performance

PHR stock traded down $0.72 during midday trading on Wednesday, reaching $25.83. 364,802 shares of the company's stock traded hands, compared to its average volume of 570,173. The stock has a market cap of $1.54 billion, a P/E ratio of -61.51 and a beta of 0.72. The stock's 50-day moving average is $28.27 and its 200 day moving average is $26.50. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.02. Phreesia, Inc. has a 52-week low of $17.07 and a 52-week high of $32.76.

Phreesia (NYSE:PHR - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.08. Phreesia had a negative net margin of 5.35% and a negative return on equity of 9.00%. The business had revenue of $117.26 million for the quarter, compared to analysts' expectations of $116.39 million. During the same period last year, the business earned ($0.03) EPS. The company's revenue was up 14.9% compared to the same quarter last year. Phreesia has set its FY 2026 guidance at EPS. As a group, analysts anticipate that Phreesia, Inc. will post -1.1 EPS for the current year.

Insiders Place Their Bets

In related news, insider David Linetsky sold 17,445 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $29.73, for a total value of $518,639.85. Following the completion of the transaction, the insider directly owned 174,002 shares of the company's stock, valued at $5,173,079.46. This trade represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Evan Roberts sold 3,400 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $32.46, for a total value of $110,364.00. Following the completion of the sale, the insider owned 724,368 shares in the company, valued at $23,512,985.28. The trade was a 0.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,292 shares of company stock worth $3,295,323. 5.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Truist Financial increased their price objective on Phreesia from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Friday. Mizuho initiated coverage on Phreesia in a research note on Wednesday, August 27th. They set an "outperform" rating and a $36.00 target price on the stock. Wall Street Zen upgraded Phreesia from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. Raymond James Financial set a $33.00 price target on Phreesia and gave the company an "outperform" rating in a research note on Friday. Finally, Needham & Company LLC increased their price target on Phreesia from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $34.08.

Phreesia 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.