Phreesia (NYSE:PHR) Shares Gap Down - Time to Sell?

Shares of Phreesia, Inc. (NYSE:PHR - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $24.95, but opened at $24.34. Phreesia shares last traded at $23.24, with a volume of 151,686 shares trading hands.

Analyst Ratings Changes

PHR has been the subject of a number of research reports. Wall Street Zen downgraded Phreesia from a "buy" rating to a "hold" rating in a research note on Saturday. KeyCorp decreased their target price on Phreesia from $30.00 to $28.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC restated a "buy" rating and issued a $29.00 target price on shares of Phreesia in a research note on Thursday, March 13th. Piper Sandler restated an "overweight" rating and issued a $33.00 target price (up from $31.00) on shares of Phreesia in a research note on Wednesday, January 29th. Finally, DA Davidson reduced their price objective on Phreesia from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.33.

Phreesia Price Performance

The stock's 50-day moving average price is $25.03 and its 200 day moving average price is $25.23. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -16.13 and a beta of 0.74. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04.

Phreesia (NYSE:PHR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.06. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. During the same period last year, the firm earned ($0.05) earnings per share. Phreesia's revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts predict that Phreesia, Inc. will post -1.1 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP David Linetsky sold 4,499 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $23.73, for a total transaction of $106,761.27. Following the sale, the senior vice president now directly owns 217,239 shares of the company's stock, valued at $5,155,081.47. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Allison C. Hoffman sold 3,496 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.32, for a total transaction of $88,518.72. Following the sale, the general counsel now directly owns 139,134 shares in the company, valued at $3,522,872.88. This trade represents a 2.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,474 shares of company stock valued at $1,023,208 over the last quarter. Corporate insiders own 5.80% of the company's stock.

Hedge Funds Weigh In On Phreesia

A number of hedge funds and other institutional investors have recently bought and sold shares of PHR. Vanguard Group Inc. boosted its position in shares of Phreesia by 2.4% during the first quarter. Vanguard Group Inc. now owns 4,936,515 shares of the company's stock worth $126,177,000 after purchasing an additional 113,405 shares in the last quarter. Greenhouse Funds LLLP increased its stake in Phreesia by 2.9% in the 1st quarter. Greenhouse Funds LLLP now owns 2,956,910 shares of the company's stock valued at $75,579,000 after buying an additional 83,018 shares during the last quarter. Champlain Investment Partners LLC grew its position in shares of Phreesia by 20.0% in the 1st quarter. Champlain Investment Partners LLC now owns 2,946,489 shares of the company's stock valued at $75,312,000 after acquiring an additional 490,340 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Phreesia by 108.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,644,988 shares of the company's stock valued at $67,606,000 after purchasing an additional 1,377,904 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Phreesia by 0.8% in the 4th quarter. Franklin Resources Inc. now owns 1,509,617 shares of the company's stock valued at $37,982,000 after purchasing an additional 11,986 shares during the period. 92.10% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.