Phreesia (NYSE:PHR) Shares Down 6.1% - Here's Why

Phreesia, Inc. (NYSE:PHR - Get Free Report)'s share price dropped 6.1% during mid-day trading on Friday . The company traded as low as $27.15 and last traded at $26.91. Approximately 90,088 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 508,681 shares. The stock had previously closed at $28.67.

Wall Street Analysts Forecast Growth

PHR has been the subject of a number of recent research reports. Citigroup reaffirmed a "buy" rating on shares of Phreesia in a research report on Wednesday, May 28th. Canaccord Genuity Group dropped their price target on Phreesia from $35.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Needham & Company LLC restated a "buy" rating and set a $29.00 price objective on shares of Phreesia in a research report on Thursday, March 13th. DA Davidson dropped their target price on Phreesia from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Wall Street Zen upgraded Phreesia from a "hold" rating to a "buy" rating in a research note on Sunday, June 1st. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Phreesia has a consensus rating of "Buy" and a consensus price target of $31.64.

Phreesia Price Performance

The business's 50-day simple moving average is $26.32 and its 200 day simple moving average is $26.35. The company has a market capitalization of $1.62 billion, a P/E ratio of -36.78 and a beta of 0.72. 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 (NYSE:PHR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.06. The firm had revenue of $115.94 million during the quarter, compared to analyst estimates of $115.00 million. Phreesia had a negative return on equity of 16.23% and a negative net margin of 9.83%. The firm's quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the company posted ($0.05) EPS. As a group, sell-side analysts anticipate that Phreesia, Inc. will post -1.1 EPS for the current year.

Insiders Place Their Bets

In related news, SVP David Linetsky sold 23,729 shares of Phreesia stock in a transaction on Friday, June 27th. The stock was sold at an average price of $28.50, for a total value of $676,276.50. Following the transaction, the senior vice president directly owned 193,510 shares in the company, valued at $5,515,035. The trade was a 10.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Weintraub sold 2,569 shares of Phreesia stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $27.86, for a total value of $71,572.34. Following the completion of the transaction, the director directly owned 143,039 shares in the company, valued at $3,985,066.54. This represents a 1.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,781 shares of company stock worth $1,504,911. Company insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Phreesia

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in 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 acquiring an additional 46,209 shares in the last quarter. Deutsche Bank AG lifted its position in Phreesia by 95.9% in the 4th quarter. Deutsche Bank AG now owns 57,297 shares of the company's stock worth $1,442,000 after buying an additional 28,047 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Phreesia by 23.2% during the 1st quarter. Bessemer Group Inc. now owns 47,758 shares of the company's stock valued at $1,222,000 after acquiring an additional 8,978 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Phreesia during the first quarter worth $462,000. Finally, Raymond James Financial Inc. purchased a new position in Phreesia in the fourth quarter valued at about $379,000. Institutional investors and hedge funds own 92.10% of the company's stock.

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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