KLP Kapitalforvaltning AS Purchases New Position in Phreesia, Inc. (NYSE:PHR)

KLP Kapitalforvaltning AS acquired a new position in Phreesia, Inc. (NYSE:PHR) during the 4th quarter, HoldingsChannel reports. The fund acquired 10,300 shares of the company’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nicholas Company Inc. purchased a new stake in Phreesia during the fourth quarter worth $2,452,000. State Street Corp raised its position in shares of 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 acquiring an additional 88,517 shares during the period. Geode Capital Management LLC boosted its stake in shares of Phreesia by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company’s stock worth $28,397,000 after acquiring an additional 55,934 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 during the period. Finally, Barclays PLC increased its stake in shares of Phreesia by 83.6% in the 3rd quarter. Barclays PLC now owns 94,929 shares of the company’s stock valued at $2,163,000 after purchasing an additional 43,225 shares in the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.

Phreesia Price Performance

Shares of NYSE PHR opened at $24.27 on Monday. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -16.51 and a beta of 0.82. Phreesia, Inc. has a 52 week low of $17.07 and a 52 week high of $30.53. The firm has a 50-day simple moving average of $27.16 and a 200-day simple moving average of $24.22. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PHR. Royal Bank of Canada raised Phreesia from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $24.00 to $32.00 in a report on Wednesday, January 8th. Robert W. Baird decreased their target price on Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Needham & Company LLC reissued a “buy” rating and issued a $29.00 price target on shares of Phreesia in a report on Thursday, March 13th. Canaccord Genuity Group upped their price objective on shares of Phreesia from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, March 13th. Finally, Citigroup boosted their target price on shares of Phreesia from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Phreesia currently has a consensus rating of “Buy” and an average target price of $31.33.

Insider Buying and Selling at Phreesia

In other news, CFO Balaji Gandhi sold 28,759 shares of the company’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 value of $862,770.00. Following the completion of the sale, the chief financial officer now directly owns 116,174 shares in the company, valued at $3,485,220. This represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Evan Roberts sold 3,519 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $30.06, for a total value of $105,781.14. Following the completion of the sale, the chief operating officer now directly owns 741,197 shares of the company’s stock, valued at approximately $22,280,381.82. This represents a 0.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,908 shares of company stock worth $4,359,153. Insiders own 5.80% of the company’s stock.

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.