Magnetar Financial LLC Takes $481,000 Position in Phreesia, Inc. $PHR

Key Points

• Magnetar Financial LLC has made a new investment in Phreesia, Inc. by purchasing 18,803 shares valued at approximately $481,000 in the 1st quarter.
• Several institutional investors have modified their positions in Phreesia, with hedge funds and institutional investors owning about 92.10% of the stock.
• Despite recent analyst ratings suggesting a buy, shares of Phreesia are currently down by 2.7%.

Magnetar Financial LLC purchased a new stake in Phreesia, Inc. (NYSE:PHR - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 18,803 shares of the company's stock, valued at approximately $481,000.

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

Phreesia Price Performance

Shares of NYSE PHR traded down $1.08 during mid-day trading on Wednesday, reaching $30.40. The company's stock had a trading volume of 1,090,297 shares, compared to its average volume of 757,878. The stock has a 50-day moving average of $28.28 and a two-hundred day moving average of $26.55. The stock has a market capitalization of $1.81 billion, a P/E ratio of -41.09 and a beta of 0.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.95 and a current ratio of 1.95. Phreesia, Inc. has a 1-year low of $17.07 and a 1-year high of $32.76.

Insider Activity at Phreesia

In other news, SVP David Linetsky sold 23,729 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $28.50, for a total value of $676,276.50. Following the completion of the transaction, the senior vice president owned 193,510 shares of the company's stock, valued at approximately $5,515,035. This trade represents a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Douglas Smith sold 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $29.00, for a total transaction of $203,000.00. Following the completion of the transaction, the director directly owned 37,353 shares of the company's stock, valued at approximately $1,083,237. The trade was a 15.78% 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 quarter. 5.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. KeyCorp boosted their price target on shares of Phreesia from $28.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Canaccord Genuity Group cut their price target on shares of Phreesia from $35.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Citigroup reaffirmed a "buy" rating on shares of Phreesia in a report on Wednesday, May 28th. Wall Street Zen raised shares of Phreesia from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. Finally, Truist Financial increased their price target on shares of Phreesia from $34.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target 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.