T. Rowe Price Investment Management Inc. Lowers Holdings in Phreesia, Inc. (NYSE:PHR)

T. Rowe Price Investment Management Inc. lessened its holdings in Phreesia, Inc. (NYSE:PHR - Free Report) by 45.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 893,716 shares of the company's stock after selling 734,249 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 1.54% of Phreesia worth $22,486,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PHR. R Squared Ltd bought a new stake in Phreesia in the fourth quarter worth $30,000. BankPlus Trust Department bought a new position in Phreesia during the fourth quarter valued at $34,000. Venturi Wealth Management LLC bought a new position in Phreesia during the fourth quarter valued at $76,000. Smartleaf Asset Management LLC increased its position in Phreesia by 154.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,442 shares of the company's stock valued at $89,000 after acquiring an additional 2,090 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in Phreesia by 12.1% during the fourth quarter. NewEdge Advisors LLC now owns 4,256 shares of the company's stock valued at $107,000 after acquiring an additional 459 shares during the last quarter. Institutional investors own 92.10% of the company's stock.

Insider Activity at Phreesia

In related news, CFO Balaji Gandhi sold 28,759 shares of the 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 $862,770.00. Following the completion of the transaction, the chief financial officer now directly owns 116,174 shares of the company's stock, valued at $3,485,220. This trade represents a 19.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Evan Roberts sold 16,005 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $30.00, for a total transaction of $480,150.00. Following the transaction, the chief operating officer now directly owns 748,302 shares of the company's stock, valued at $22,449,060. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,160 shares of company stock valued at $3,139,103 in the last three months. 5.80% of the stock is owned by insiders.

Phreesia Stock Up 1.6 %

Shares of PHR stock traded up $0.38 during mid-day trading on Tuesday, hitting $24.87. 268,113 shares of the stock traded hands, compared to its average volume of 430,989. The stock has a market cap of $1.46 billion, a P/E ratio of -16.92 and a beta of 0.82. The stock's fifty day moving average is $25.34 and its two-hundred day moving average is $24.45. Phreesia, Inc. has a 52-week low of $17.07 and a 52-week 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.

Analyst Upgrades and Downgrades

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

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.