Jennison Associates LLC Decreases Holdings in Phreesia, Inc. (NYSE:PHR)

Jennison Associates LLC trimmed its stake in Phreesia, Inc. (NYSE:PHR - Free Report) by 98.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,778 shares of the company's stock after selling 2,199,180 shares during the period. Jennison Associates LLC owned 0.07% of Phreesia worth $898,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in shares of Phreesia by 1,987.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,482 shares of the company's stock worth $34,000 after acquiring an additional 1,411 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Phreesia during the 3rd quarter valued at about $53,000. SG Americas Securities LLC acquired a new position in Phreesia during the 3rd quarter valued at about $132,000. Raymond James & Associates acquired a new position in Phreesia during the 4th quarter valued at about $226,000. Finally, Trust Point Inc. acquired a new position in Phreesia during the 4th quarter valued at about $239,000. 92.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Phreesia

In other Phreesia news, General Counsel Allison C. Hoffman sold 5,549 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $22.62, for a total transaction of $125,518.38. Following the completion of the transaction, the general counsel now owns 141,485 shares of the company's stock, valued at $3,200,390.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Chaim Indig sold 3,392 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $22.86, for a total value of $77,541.12. Following the completion of the sale, the chief executive officer now owns 1,222,005 shares of the company's stock, valued at $27,935,034.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Allison C. Hoffman sold 5,549 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $22.62, for a total value of $125,518.38. Following the completion of the sale, the general counsel now directly owns 141,485 shares of the company's stock, valued at approximately $3,200,390.70. The disclosure for this sale can be found here. Insiders sold 82,989 shares of company stock valued at $1,911,735 over the last quarter. 5.80% of the stock is currently owned by insiders.

Phreesia Stock Performance

Shares of PHR traded up $0.15 during mid-day trading on Friday, reaching $20.61. The company had a trading volume of 502,316 shares, compared to its average volume of 433,574. The stock has a market capitalization of $1.16 billion, a P/E ratio of -8.18 and a beta of 0.92. Phreesia, Inc. has a 52-week low of $12.05 and a 52-week high of $34.98. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average of $23.66 and a two-hundred day moving average of $21.45.

Phreesia (NYSE:PHR - Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.56) earnings per share for the quarter, topping analysts' consensus estimates of ($0.58) by $0.02. Phreesia had a negative return on equity of 53.33% and a negative net margin of 38.42%. The company had revenue of $95.00 million during the quarter, compared to analysts' expectations of $93.52 million. During the same quarter in the prior year, the firm posted ($0.72) EPS. Phreesia's quarterly revenue was up 24.0% compared to the same quarter last year. On average, analysts expect that Phreesia, Inc. will post -1.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PHR. Truist Financial began coverage on Phreesia in a research report on Monday, February 26th. They set a "buy" rating and a $35.00 target price on the stock. Stephens reiterated an "overweight" rating and set a $28.00 price target on shares of Phreesia in a research note on Friday, March 22nd. JMP Securities boosted their price target on Phreesia from $28.00 to $30.00 and gave the company a "market outperform" rating in a research note on Thursday, March 21st. Barclays began coverage on Phreesia in a research note on Wednesday, January 3rd. They set an "overweight" rating and a $29.00 price target on the stock. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $23.00 price target on shares of Phreesia in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Phreesia currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.62.

About Phreesia

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.