Phreesia, Inc. $PHR Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. significantly reduced its holdings in Phreesia, Inc. by 66.6%, selling over 594,000 shares and now owning approximately 0.51% of the company.
• Phreesia has gained positive attention from analysts; several firms have upgraded their ratings, with an average price target of $32.27 and a majority rating of "Buy."
• Insider trading activity included Director Michael Weintraub selling 7,431 shares for over $204,000, indicating noticeable trading among company executives.

T. Rowe Price Investment Management Inc. lowered its holdings in Phreesia, Inc. (NYSE:PHR - Free Report) by 66.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,891 shares of the company's stock after selling 594,825 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 0.51% of Phreesia worth $7,640,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PHR. Johnson Financial Group Inc. increased its position in shares of Phreesia by 381.3% in 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 increased 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 acquiring an additional 1,923 shares in the last quarter. KBC Group NV acquired a new stake in shares of Phreesia in the first quarter worth $74,000. CWM LLC increased its position in shares of Phreesia by 994.9% in the first quarter. CWM LLC now owns 4,040 shares of the company's stock worth $103,000 after acquiring an additional 3,671 shares in the last quarter. Finally, NewEdge Advisors LLC increased 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 acquiring an additional 459 shares in the last quarter. Institutional investors and hedge funds own 92.10% of the company's stock.

Wall Street Analysts Forecast Growth

PHR has been the subject of several recent research reports. Canaccord Genuity Group dropped their price objective on shares of Phreesia from $35.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. DA Davidson raised shares of Phreesia to a "strong-buy" rating in a report on Tuesday, July 22nd. Truist Financial raised their price target on shares of Phreesia from $34.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Citigroup reaffirmed a "buy" rating on shares of Phreesia in a report on Wednesday, May 28th. Finally, Mizuho assumed coverage on shares of Phreesia in a report on Wednesday. They set an "outperform" rating and a $36.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $32.58.

Phreesia Stock Up 1.7%

PHR stock traded up $0.56 during mid-day trading on Thursday, hitting $32.55. 1,141,290 shares of the company were exchanged, compared to its average volume of 538,018. The company has a market capitalization of $1.94 billion, a PE ratio of -43.98 and a beta of 0.71. 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, Inc. has a twelve month low of $17.07 and a twelve month high of $32.76. The firm has a fifty day simple moving average of $27.81 and a 200 day simple moving average of $26.47.

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

Insider Activity at Phreesia

In other Phreesia news, Director Michael Weintraub sold 7,431 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $27.51, for a total transaction of $204,426.81. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Linetsky sold 23,729 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $28.50, for a total transaction of $676,276.50. Following the transaction, the senior vice president directly owned 193,510 shares of the company's stock, valued at approximately $5,515,035. This represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,327 shares of company stock worth $2,031,647 over the last 90 days. Company insiders own 5.50% of the company's stock.

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.