Rock Springs Capital Management LP Has $51.33 Million Stock Position in Phreesia, Inc. (NYSE:PHR)

Rock Springs Capital Management LP decreased its holdings in shares of Phreesia, Inc. (NYSE:PHR - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,040,000 shares of the company's stock after selling 242,500 shares during the period. Phreesia comprises 2.0% of Rock Springs Capital Management LP's portfolio, making the stock its 16th biggest holding. Rock Springs Capital Management LP owned about 3.51% of Phreesia worth $51,326,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PHR. ExodusPoint Capital Management LP grew its stake in Phreesia by 448.6% during the fourth quarter. ExodusPoint Capital Management LP now owns 174,971 shares of the company's stock worth $4,402,000 after buying an additional 143,077 shares during the last quarter. Barclays PLC grew its position in Phreesia by 120.4% during the 4th quarter. Barclays PLC now owns 209,209 shares of the company's stock worth $5,264,000 after acquiring an additional 114,280 shares during the last quarter. Norges Bank acquired a new stake in Phreesia during the 4th quarter valued at $2,804,000. Nicholas Company Inc. bought a new position in Phreesia in the 4th quarter valued at $2,452,000. Finally, State Street Corp boosted its stake in Phreesia by 7.1% in the third quarter. State Street Corp now owns 1,327,586 shares of the company's stock worth $30,256,000 after purchasing an additional 88,517 shares in the last quarter. 92.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PHR shares. Royal Bank of Canada raised shares of Phreesia from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $24.00 to $32.00 in a research note on Wednesday, January 8th. Citigroup increased their price objective on Phreesia from $31.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, January 10th. DA Davidson dropped their target price on Phreesia from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Piper Sandler reiterated an "overweight" rating and issued a $33.00 price target (up previously from $31.00) on shares of Phreesia in a report on Wednesday, January 29th. Finally, Needham & Company LLC reissued a "buy" rating and set a $29.00 price objective on shares of Phreesia in a report on Thursday, March 13th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Phreesia has an average rating of "Buy" and a consensus price target of $31.33.

Insider Activity at Phreesia

In related news, General Counsel Allison C. Hoffman sold 1,213 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $23.81, for a total transaction of $28,881.53. Following the completion of the sale, the general counsel now directly owns 137,921 shares of the company's stock, valued at approximately $3,283,899.01. This represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Balaji Gandhi sold 28,759 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 transaction of $862,770.00. Following the completion of the transaction, the chief financial officer now directly owns 116,174 shares in the company, valued at approximately $3,485,220. The trade was a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,930 shares of company stock worth $4,067,102 in the last quarter. Corporate insiders own 5.80% of the company's stock.

Phreesia Trading Up 0.6 %

PHR traded up $0.14 during mid-day trading on Friday, hitting $24.73. The stock had a trading volume of 268,854 shares, compared to its average volume of 432,544. The stock's fifty day simple moving average is $25.51 and its 200-day simple moving average is $24.37. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -16.82 and a beta of 0.82. Phreesia, Inc. has a 1-year low of $17.07 and a 1-year high of $30.53. 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 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.