Ieq Capital LLC Acquires Shares of 11,904 Phreesia, Inc. $PHR

Key Points

• Ieq Capital LLC invested $304,000 in Phreesia, acquiring 11,904 shares in the first quarter, contributing to a trend of increased institutional investment in the company.
• Phreesia reported a net revenue of $117.26 million for the last quarter, exceeding analyst expectations, and achieved an EPS of $0.01, up from a loss of $0.03 a year prior.
• Thirteen investment analysts currently rate Phreesia's stock as a Buy, with an average target price of $33.31, reflecting positive market sentiment and expectation for growth.

Ieq Capital LLC acquired a new stake in shares of Phreesia, Inc. (NYSE:PHR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,904 shares of the company's stock, valued at approximately $304,000.

A number of other large investors have also made changes to their positions in the stock. Arcadia Investment Management Corp MI raised its position in Phreesia by 0.7% in the first quarter. Arcadia Investment Management Corp MI now owns 92,770 shares of the company's stock worth $2,371,000 after purchasing an additional 615 shares in the last quarter. QRG Capital Management Inc. raised its position in Phreesia by 8.0% in the first quarter. QRG Capital Management Inc. now owns 11,118 shares of the company's stock worth $284,000 after purchasing an additional 827 shares in the last quarter. Hsbc Holdings PLC raised its position in Phreesia by 9.0% in the first quarter. Hsbc Holdings PLC now owns 14,241 shares of the company's stock worth $356,000 after purchasing an additional 1,177 shares in the last quarter. Smartleaf Asset Management LLC raised 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 in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Phreesia by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 197,315 shares of the company's stock worth $5,043,000 after buying an additional 2,048 shares during the last quarter. Institutional investors and hedge funds own 92.10% of the company's stock.

Insiders Place Their Bets

In related news, Director Lisa Egbuonu-Davis sold 2,802 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $27.67, for a total value of $77,531.34. Following the completion of the sale, the director owned 22,037 shares of the company's stock, valued at $609,763.79. This trade represents a 11.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David Linetsky sold 17,445 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $29.73, for a total transaction of $518,639.85. Following the completion of the sale, the insider directly owned 174,002 shares of the company's stock, valued at approximately $5,173,079.46. This represents a 9.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,292 shares of company stock valued at $3,295,323 over the last quarter. Company insiders own 5.50% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup reaffirmed an "outperform" rating on shares of Phreesia in a research note on Monday. Piper Sandler upped their price objective on shares of Phreesia from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Stephens reaffirmed an "overweight" rating and set a $32.00 price objective on shares of Phreesia in a research note on Wednesday, September 3rd. DA Davidson raised shares of Phreesia to a "strong-buy" rating in a research note on Monday. Finally, Raymond James Financial set a $33.00 price objective on shares of Phreesia and gave the stock an "outperform" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $34.08.

Phreesia Price Performance

Shares of Phreesia stock traded up $0.11 during midday trading on Thursday, reaching $25.45. The company had a trading volume of 1,212,077 shares, compared to its average volume of 1,044,763. The company has a current ratio of 2.12, a quick ratio of 1.95 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -60.60 and a beta of 0.72. The stock has a fifty day simple moving average of $28.12 and a 200 day simple moving average of $26.48. Phreesia, Inc. has a 1-year low of $17.07 and a 1-year high of $32.76.

Phreesia (NYSE:PHR - Get Free Report) last issued 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. The business had revenue of $117.26 million during the quarter, compared to analyst estimates of $116.39 million. Phreesia had a negative net margin of 5.35% and a negative return on equity of 8.75%. Phreesia's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) earnings per share. Phreesia has set its FY 2026 guidance at EPS. As a group, equities research analysts forecast that Phreesia, Inc. will post -1.1 earnings per share for the current year.

About Phreesia

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.