Invesco Ltd. Boosts Stock Position in Phreesia, Inc. $PHR

Key Points

• Invesco Ltd. significantly increased its stake in Phreesia, Inc. by 228.0% during the first quarter, now owning 132,028 shares valued at approximately $3.38 million.
• Phreesia received multiple analyst upgrades, with DA Davidson and Citigroup both issuing a "strong-buy" rating, and the company holds a consensus rating of "Buy" with a target price of $32.58.
• In insider trading, Evan Roberts sold over 45,000 shares at an average price of $32.02, reducing his stake in the company by 5.84%.

Invesco Ltd. grew its holdings in Phreesia, Inc. (NYSE:PHR - Free Report) by 228.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,028 shares of the company's stock after buying an additional 91,779 shares during the quarter. Invesco Ltd. owned 0.22% of Phreesia worth $3,375,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Phreesia by 2.4% during the first quarter. Vanguard Group Inc. now owns 4,936,515 shares of the company's stock worth $126,177,000 after acquiring an additional 113,405 shares during the period. Deerfield Management Company L.P. Series C raised its position in shares of Phreesia by 133.6% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 1,271,832 shares of the company's stock worth $31,999,000 after purchasing an additional 727,384 shares during the last quarter. Millennium Management LLC lifted its stake in Phreesia by 83.2% in the 4th quarter. Millennium Management LLC now owns 653,634 shares of the company's stock valued at $16,445,000 after buying an additional 296,863 shares in the last quarter. Northern Trust Corp boosted its holdings in Phreesia by 6.6% in the 4th quarter. Northern Trust Corp now owns 571,807 shares of the company's stock worth $14,387,000 after buying an additional 35,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Phreesia by 5.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 522,384 shares of the company's stock worth $13,352,000 after buying an additional 28,936 shares in the last quarter. Hedge funds and other institutional investors own 92.10% of the company's stock.

Phreesia Stock Down 3.0%

Shares of PHR traded down $0.93 during mid-day trading on Wednesday, hitting $30.55. 489,373 shares of the company's stock were exchanged, compared to its average volume of 540,275. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -41.00 and a beta of 0.72. The stock's 50-day moving average is $28.22 and its 200-day moving average is $26.52. Phreesia, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $32.76.

Insider Transactions at Phreesia

In other Phreesia news, Director Mark Douglas Smith sold 7,000 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $29.00, for a total transaction of $203,000.00. Following the sale, the director owned 37,353 shares in the company, valued at $1,083,237. This represents a 15.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lisa Egbuonu-Davis sold 2,802 shares of Phreesia stock in a transaction dated 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 transaction, the director owned 22,037 shares of the company's stock, valued at $609,763.79. The trade was a 11.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,874 shares of company stock valued at $3,587,618 in the last 90 days. Insiders own 5.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PHR shares. Mizuho assumed coverage on Phreesia in a research report on Wednesday, August 27th. They issued an "outperform" rating and a $36.00 target price on the stock. DA Davidson upgraded Phreesia to a "strong-buy" rating in a report on Tuesday, July 22nd. Citigroup reaffirmed a "buy" rating on shares of Phreesia in a report on Wednesday, May 28th. Stephens reissued an "overweight" rating and issued a $32.00 price target on shares of Phreesia in a research note on Wednesday. Finally, Canaccord Genuity Group lowered their price target on shares of Phreesia from $35.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. One investment analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. According to MarketBeat.com, Phreesia has a consensus rating of "Buy" and an average target price of $32.54.

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.