Riverbridge Partners LLC Decreases Holdings in Phreesia, Inc. (NYSE:PHR)

Riverbridge Partners LLC cut its holdings in shares of Phreesia, Inc. (NYSE:PHR - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 634,396 shares of the company's stock after selling 49,492 shares during the quarter. Riverbridge Partners LLC owned approximately 1.08% of Phreesia worth $16,215,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Phreesia by 10.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 493,448 shares of the company's stock valued at $12,415,000 after purchasing an additional 46,209 shares during the last quarter. Deutsche Bank AG increased its position in shares of Phreesia by 95.9% during the 4th quarter. Deutsche Bank AG now owns 57,297 shares of the company's stock valued at $1,442,000 after purchasing an additional 28,047 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Phreesia during the 4th quarter worth $377,000. M&T Bank Corp grew its stake in shares of Phreesia by 56.4% during the 4th quarter. M&T Bank Corp now owns 54,939 shares of the company's stock worth $1,382,000 after acquiring an additional 19,812 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Phreesia by 7.4% during the 4th quarter. Rhumbline Advisers now owns 83,631 shares of the company's stock worth $2,104,000 after acquiring an additional 5,756 shares during the period. 92.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PHR has been the subject of several research reports. Truist Financial increased their price target on Phreesia from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. DA Davidson cut their price target on Phreesia from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Citigroup reiterated a "buy" rating on shares of Phreesia in a research note on Wednesday, May 28th. KeyCorp cut their price target on Phreesia from $30.00 to $28.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Canaccord Genuity Group cut their price target on Phreesia from $35.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, Phreesia currently has a consensus rating of "Buy" and a consensus target price of $31.64.

Phreesia Stock Up 0.6%

Shares of NYSE PHR opened at $25.68 on Friday. Phreesia, Inc. has a 52 week low of $17.07 and a 52 week high of $30.53. The business has a 50-day simple moving average of $25.11 and a two-hundred day simple moving average of $25.87. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.53 billion, a P/E ratio of -34.71 and a beta of 0.68.

Phreesia (NYSE:PHR - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate 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 business had revenue of $115.94 million during the quarter, compared to the consensus estimate of $115.00 million. During the same quarter last year, the company earned ($0.05) EPS. The firm's revenue was up 14.5% compared to the same quarter last year. Research analysts anticipate that Phreesia, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Allison C. Hoffman sold 6,024 shares of Phreesia stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $23.85, for a total transaction of $143,672.40. Following the completion of the sale, the general counsel now owns 143,830 shares in the company, valued at approximately $3,430,345.50. This trade represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Yvonne Hui sold 1,878 shares of Phreesia stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $23.85, for a total value of $44,790.30. Following the sale, the insider now owns 28,449 shares of the company's stock, valued at approximately $678,508.65. This trade represents a 6.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,521 shares of company stock worth $1,225,934. 5.50% of the stock is currently owned by insiders.

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.

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