Lazard Asset Management LLC Cuts Position in Phreesia, Inc. (NYSE:PHR)

Lazard Asset Management LLC reduced its position in shares of Phreesia, Inc. (NYSE:PHR - Free Report) by 35.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,977 shares of the company's stock after selling 23,267 shares during the period. Lazard Asset Management LLC owned approximately 0.07% of Phreesia worth $1,081,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PHR. Barclays PLC grew its position in shares of Phreesia by 83.6% during the 3rd quarter. Barclays PLC now owns 94,929 shares of the company's stock valued at $2,163,000 after purchasing an additional 43,225 shares in the last quarter. Wesbanco Bank Inc. grew its position in shares of Phreesia by 76.9% during the 4th quarter. Wesbanco Bank Inc. now owns 46,000 shares of the company's stock valued at $1,157,000 after purchasing an additional 20,000 shares in the last quarter. R Squared Ltd purchased a new position in shares of Phreesia during the 4th quarter valued at $30,000. Rhumbline Advisers grew its position in shares of Phreesia by 7.4% during the 4th quarter. Rhumbline Advisers now owns 83,631 shares of the company's stock valued at $2,104,000 after purchasing an additional 5,756 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Phreesia during the 4th quarter valued at $76,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Balaji Gandhi sold 1,827 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $27.46, for a total transaction of $50,169.42. Following the completion of the transaction, the chief financial officer now directly owns 103,591 shares of the company's stock, valued at approximately $2,844,608.86. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Allison C. Hoffman sold 3,496 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.32, for a total transaction of $88,518.72. Following the transaction, the general counsel now directly owns 139,134 shares of the company's stock, valued at approximately $3,522,872.88. This trade represents a 2.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,474 shares of company stock valued at $1,023,208. Insiders own 5.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. KeyCorp cut their target price on shares of Phreesia from $30.00 to $28.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. DA Davidson cut their target price on shares of Phreesia from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Wall Street Zen lowered shares of Phreesia from a "buy" rating to a "hold" rating in a research report on Saturday. Needham & Company LLC restated a "buy" rating and set a $29.00 price target on shares of Phreesia in a research report on Thursday, March 13th. Finally, Piper Sandler restated an "overweight" rating and set a $33.00 price target (up from $31.00) on shares of Phreesia in a research report on Wednesday, January 29th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.33.

Phreesia Trading Down 1.1%

Shares of NYSE:PHR traded down $0.27 during midday trading on Friday, hitting $24.07. 242,602 shares of the stock traded hands, compared to its average volume of 439,105. The stock has a market capitalization of $1.43 billion, a PE ratio of -16.37 and a beta of 0.74. The business's 50 day moving average is $25.18 and its two-hundred day moving average is $25.22. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. Phreesia, Inc. has a one year low of $17.07 and a one year high of $30.53.

Phreesia Company 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.