Champlain Investment Partners LLC Boosts Holdings in Phreesia, Inc. $PHR

Key Points

• Champlain Investment Partners LLC increased its stake in Phreesia by 20% during Q1, owning approximately 2.9 million shares valued at $75.3 million.
• Over 90% of Phreesia's shares are held by institutional investors, indicating strong financial support and interest from major funds.
• Phreesia reported a revenue increase of 14.5% year-over-year for the last quarter, surpassing consensus estimates and emphasizing its growth potential.

Champlain Investment Partners LLC raised its holdings in Phreesia, Inc. (NYSE:PHR - Free Report) by 20.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,946,489 shares of the company's stock after purchasing an additional 490,340 shares during the period. Champlain Investment Partners LLC owned 5.01% of Phreesia worth $75,312,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PHR. American Century Companies Inc. increased its stake in shares of Phreesia by 3,741.9% in the first quarter. American Century Companies Inc. now owns 983,440 shares of the company's stock worth $25,137,000 after purchasing an additional 957,842 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in shares of Phreesia by 133.6% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 1,271,832 shares of the company's stock worth $31,999,000 after buying an additional 727,384 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Phreesia in the first quarter worth about $14,206,000. Park West Asset Management LLC purchased a new stake in shares of Phreesia in the fourth quarter worth about $10,657,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Phreesia in the first quarter worth about $10,782,000. Hedge funds and other institutional investors own 92.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group lowered their price target on shares of Phreesia from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Mizuho assumed coverage on shares of Phreesia in a report on Wednesday, August 27th. They issued an "outperform" rating and a $36.00 price target on the stock. 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. Citigroup reissued a "buy" rating on shares of Phreesia in a report on Wednesday, May 28th. Finally, KeyCorp increased their price target on shares of Phreesia from $28.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $32.58.

Insiders Place Their Bets

In related news, General Counsel Allison C. Hoffman sold 1,245 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $26.89, for a total value of $33,478.05. Following the sale, the general counsel directly owned 136,978 shares of the company's stock, valued at $3,683,338.42. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 sale, the director directly owned 37,353 shares in the company, valued at $1,083,237. This represents a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,874 shares of company stock valued at $3,587,618 over the last three months. Corporate insiders own 5.50% of the company's stock.

Phreesia Price Performance

PHR traded down $0.88 on Monday, reaching $31.67. The company had a trading volume of 695,742 shares, compared to its average volume of 779,639. The business has a 50 day simple moving average of $28.06 and a 200 day simple moving average of $26.48. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -42.79 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 52-week low of $17.07 and a 52-week high of $32.76.

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.