Peregrine Capital Management LLC Lowers Position in Phreesia, Inc. (NYSE:PHR)

Peregrine Capital Management LLC lowered its stake in shares of Phreesia, Inc. (NYSE:PHR - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 291,127 shares of the company's stock after selling 28,200 shares during the period. Peregrine Capital Management LLC owned 0.50% of Phreesia worth $7,441,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PHR. Johnson Financial Group Inc. lifted its position in shares of Phreesia by 381.3% during the fourth quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company's stock worth $28,000 after acquiring an additional 896 shares in the last quarter. Quarry LP raised its position in shares of Phreesia by 210.9% in the fourth quarter. Quarry LP now owns 2,835 shares of the company's stock worth $71,000 after buying an additional 1,923 shares in the last quarter. KBC Group NV purchased a new stake in shares of Phreesia in the first quarter worth $74,000. Smartleaf Asset Management LLC raised its position in shares of Phreesia by 154.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,442 shares of the company's stock worth $89,000 after buying an additional 2,090 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Phreesia by 12.1% in the fourth quarter. NewEdge Advisors LLC now owns 4,256 shares of the company's stock worth $107,000 after buying an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 92.10% of the company's stock.

Phreesia Trading Up 2.1%

Shares of NYSE:PHR traded up $0.60 on Wednesday, reaching $29.09. 468,236 shares of the company traded hands, compared to its average volume of 455,227. The business's 50-day simple moving average is $25.75 and its 200 day simple moving average is $26.16. Phreesia, Inc. has a 52 week low of $17.07 and a 52 week high of $30.53. The stock has a market capitalization of $1.73 billion, a P/E ratio of -39.31 and a beta of 0.72. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.02.

Phreesia (NYSE:PHR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.06. Phreesia had a negative return on equity of 16.23% and a negative net margin of 9.83%. The firm had revenue of $115.94 million for the quarter, compared to analysts' expectations of $115.00 million. During the same period last year, the firm earned ($0.05) earnings per share. The company's revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that Phreesia, Inc. will post -1.1 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael Weintraub sold 7,431 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $27.51, for a total value of $204,426.81. Following the sale, the director directly owned 143,039 shares of the company's stock, valued at $3,935,002.89. This trade represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Evan Roberts sold 7,233 shares of the firm's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $23.85, for a total value of $172,507.05. Following the completion of the sale, the chief operating officer directly owned 776,652 shares in the company, valued at $18,523,150.20. The trade was a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,334 shares of company stock valued at $1,932,345. Company insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PHR. Citigroup reiterated a "buy" rating on shares of Phreesia in a research report on Wednesday, May 28th. Truist Financial increased their price objective on Phreesia from $34.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. KeyCorp lowered their price objective on Phreesia from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Canaccord Genuity Group lowered their price objective on Phreesia from $35.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Finally, Wall Street Zen raised Phreesia from a "hold" rating to a "buy" rating in a research note on Sunday, June 1st. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, Phreesia presently has an average rating of "Buy" and an average price target of $31.64.

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.