Pale Fire Capital SE Purchases Shares of 8,649,329 Phreesia, Inc. $PHR

Key Points

• Pale Fire Capital SE disclosed a new first-quarter stake in Phreesia, buying 8,649,329 shares worth about $72.5 million. The position represents about 6.2% of its portfolio and makes Phreesia its fifth-largest holding.
• Phreesia reported better-than-expected quarterly results, posting EPS of $0.05 versus estimates of $0.02 and revenue of $130.94 million, up 12.9% year over year.
• Despite the earnings beat, Wall Street remains cautious: the stock has a consensus Hold rating and an average price target of $16.65, while shares recently traded around $10.22.

Pale Fire Capital SE acquired a new stake in shares of Phreesia, Inc. (NYSE:PHR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,649,329 shares of the company's stock, valued at approximately $72,481,000. Phreesia comprises about 6.2% of Pale Fire Capital SE's portfolio, making the stock its 5th largest holding. Pale Fire Capital SE owned about 14.24% of Phreesia as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Granahan Investment Management LLC grew its stake in shares of Phreesia by 73.8% in the fourth quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company's stock worth $40,601,000 after purchasing an additional 1,018,987 shares during the last quarter. Prosight Management LP bought a new position in Phreesia during the 4th quarter valued at approximately $16,533,000. Millennium Management LLC raised its position in Phreesia by 730.7% during the 3rd quarter. Millennium Management LLC now owns 1,064,132 shares of the company's stock valued at $25,028,000 after purchasing an additional 936,033 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Phreesia during the 4th quarter valued at approximately $15,213,000. Finally, OP Asset Management Ltd purchased a new stake in Phreesia in the 1st quarter worth approximately $6,487,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Phreesia Stock Up 4.3%

PHR stock opened at $10.22 on Friday. Phreesia, Inc. has a fifty-two week low of $7.77 and a fifty-two week high of $32.76. The business's 50 day moving average price is $9.86 and its two-hundred day moving average price is $11.14. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $631.53 million, a price-to-earnings ratio of 68.11 and a beta of 0.87.

Phreesia (NYSE:PHR - Get Free Report) last announced its earnings results on Wednesday, May 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $130.94 million during the quarter, compared to analyst estimates of $130.08 million. Phreesia had a return on equity of 5.13% and a net margin of 1.85%.The business's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) EPS. As a group, analysts forecast that Phreesia, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PHR. Robert W. Baird reiterated a "neutral" rating and issued a $10.00 price objective (down from $25.00) on shares of Phreesia in a research report on Tuesday, March 31st. BMO Capital Markets dropped their price target on Phreesia from $32.00 to $14.00 and set an "outperform" rating for the company in a research note on Tuesday, March 31st. Wells Fargo & Company reiterated an "equal weight" rating and issued a $9.00 price target (down from $15.00) on shares of Phreesia in a report on Wednesday, May 20th. Citizens Jmp reissued a "market perform" rating on shares of Phreesia in a research report on Wednesday, April 1st. Finally, Weiss Ratings raised shares of Phreesia from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Phreesia presently has a consensus rating of "Hold" and an average target price of $16.65.

Phreesia Profile

Phreesia, Inc NYSE: PHR is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company's cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.

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