LGL Partners LLC Takes $699,000 Position in Phreesia, Inc. $PHR

Key Points

• LGL Partners LLC acquired a new stake in Phreesia, Inc. worth approximately $699,000 by purchasing 27,349 shares in the first quarter.
• Major institutional investors are increasing their positions in Phreesia, with First Trust Advisors LP boosting its stake by 306.9% to over $2 million.
• Phreesia has received multiple upgrades from analysts, including a shift from "hold" to "buy" by Wall Street Zen and a price target increase to $35.00 by Truist Financial.

LGL Partners LLC bought a new stake in shares of Phreesia, Inc. (NYSE:PHR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 27,349 shares of the company's stock, valued at approximately $699,000.

Several other large investors also recently modified their holdings of PHR. Raymond James Financial Inc. acquired a new stake in shares of Phreesia during the fourth quarter valued at about $379,000. First Trust Advisors LP grew its stake in Phreesia by 306.9% in the fourth quarter. First Trust Advisors LP now owns 82,068 shares of the company's stock worth $2,065,000 after purchasing an additional 61,898 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Phreesia by 1,023.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,660 shares of the company's stock worth $142,000 after purchasing an additional 5,156 shares in the last quarter. Hsbc Holdings PLC grew its stake in Phreesia by 36.5% in the fourth quarter. Hsbc Holdings PLC now owns 13,064 shares of the company's stock worth $333,000 after purchasing an additional 3,493 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Phreesia by 6.6% in the fourth quarter. Northern Trust Corp now owns 571,807 shares of the company's stock worth $14,387,000 after purchasing an additional 35,392 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on PHR. Wall Street Zen upgraded Phreesia from a "hold" rating to a "buy" rating in a research note on Sunday, June 1st. Citigroup reiterated a "buy" rating on shares of Phreesia in a research note on Wednesday, May 28th. Truist Financial lifted their price target on Phreesia from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. KeyCorp lifted their price target on Phreesia from $28.00 to $35.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, Mizuho began coverage on Phreesia in a research note on Wednesday, August 27th. They issued an "outperform" rating and a $36.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company's stock. Based on data from MarketBeat.com, Phreesia currently has an average rating of "Buy" and an average target price of $32.58.

Phreesia Stock Performance

Shares of NYSE PHR opened at $31.67 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.02. The firm's 50-day moving average price is $28.15 and its two-hundred day moving average price is $26.49. Phreesia, Inc. has a 52-week low of $17.07 and a 52-week high of $32.76. The stock has a market capitalization of $1.88 billion, a P/E ratio of -42.79 and a beta of 0.72.

Insider Transactions at Phreesia

In other news, Director Mark Douglas Smith sold 7,000 shares of Phreesia stock in a transaction that occurred on 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 of the company's stock, valued at approximately $1,083,237. The trade was a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lisa Egbuonu-Davis sold 2,802 shares of Phreesia 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 sale, the director directly owned 22,037 shares in the company, valued at approximately $609,763.79. This trade represents a 11.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,874 shares of company stock valued at $3,587,618 over the last ninety days. Insiders own 5.50% of the company's stock.

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.

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