First Trust Advisors LP Raises Stock Position in Phreesia, Inc. (NYSE:PHR)

First Trust Advisors LP raised its holdings in shares of Phreesia, Inc. (NYSE:PHR - Free Report) by 306.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,068 shares of the company's stock after buying an additional 61,898 shares during the quarter. First Trust Advisors LP owned about 0.14% of Phreesia worth $2,065,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Phreesia by 0.9% in the fourth quarter. Invesco Ltd. now owns 40,249 shares of the company's stock valued at $1,013,000 after purchasing an additional 357 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Phreesia by 12.1% in the fourth quarter. NewEdge Advisors LLC now owns 4,256 shares of the company's stock valued at $107,000 after purchasing an additional 459 shares during the period. R Squared Ltd purchased a new stake in shares of Phreesia in the fourth quarter valued at about $30,000. BankPlus Trust Department purchased a new stake in shares of Phreesia in the fourth quarter valued at about $34,000. Finally, Swiss National Bank grew its holdings in shares of Phreesia by 1.3% in the fourth quarter. Swiss National Bank now owns 107,900 shares of the company's stock valued at $2,715,000 after purchasing an additional 1,400 shares during the period. Hedge funds and other institutional investors own 92.10% of the company's stock.

Insider Activity

In related news, COO Evan Roberts sold 16,005 shares of Phreesia stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $30.00, for a total value of $480,150.00. Following the completion of the transaction, the chief operating officer now owns 748,302 shares in the company, valued at $22,449,060. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David Linetsky sold 11,616 shares of Phreesia stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $29.70, for a total transaction of $344,995.20. Following the completion of the transaction, the senior vice president now owns 218,135 shares of the company's stock, valued at $6,478,609.50. This represents a 5.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,640 shares of company stock valued at $3,094,167. 5.80% of the stock is currently owned by company insiders.

Phreesia Stock Up 0.7%

Shares of NYSE PHR traded up $0.19 during midday trading on Friday, hitting $25.57. The company's stock had a trading volume of 867,739 shares, compared to its average volume of 435,606. The business's fifty day simple moving average is $25.08 and its two-hundred day simple moving average is $24.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74. Phreesia, Inc. has a 1 year low of $17.07 and a 1 year high of $30.53. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -17.39 and a beta of 0.74.

Analysts Set New Price Targets

PHR has been the subject of a number of analyst reports. KeyCorp dropped their price objective on shares of Phreesia from $30.00 to $28.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Canaccord Genuity Group boosted their price target on shares of Phreesia from $34.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, March 13th. Needham & Company LLC restated a "buy" rating and issued a $29.00 price objective on shares of Phreesia in a report on Thursday, March 13th. DA Davidson dropped their target price on shares of Phreesia from $36.00 to $34.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Piper Sandler reissued an "overweight" rating and issued a $33.00 target price (up previously from $31.00) on shares of Phreesia in a research report on Wednesday, January 29th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Phreesia presently has a consensus rating of "Buy" and an average target price of $31.33.

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.