Handelsbanken Fonder AB Acquires 2,400 Shares of Phreesia, Inc. (NYSE:PHR)

Handelsbanken Fonder AB raised its stake in shares of Phreesia, Inc. (NYSE:PHR) by 23.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,600 shares of the company’s stock after buying an additional 2,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Phreesia were worth $317,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Versor Investments LP bought a new stake in shares of Phreesia during the 3rd quarter valued at about $694,000. Zacks Investment Management bought a new stake in Phreesia in the third quarter valued at $631,000. State Street Corp grew 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 during the period. Wesbanco Bank Inc. boosted its position in shares of Phreesia by 76.9% in the 4th quarter. Wesbanco Bank Inc. now owns 46,000 shares of the company’s stock worth $1,157,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Phreesia by 83.6% in the third quarter. Barclays PLC now owns 94,929 shares of the company’s stock worth $2,163,000 after acquiring an additional 43,225 shares during the last quarter. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Phreesia Stock Down 2.8 %

Phreesia stock opened at $25.80 on Tuesday. Phreesia, Inc. has a 1-year low of $17.07 and a 1-year high of $30.53. The business has a fifty day moving average price of $27.51 and a 200-day moving average price of $24.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -17.55 and a beta of 0.96.

Phreesia (NYSE:PHR) last posted its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. The company had revenue of $106.80 million during the quarter, compared to the consensus estimate of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.58) earnings per share. Equities research analysts forecast that Phreesia, Inc. will post -1.1 EPS for the current fiscal year.

Insider Activity at Phreesia

In other Phreesia news, Director Michael Weintraub sold 20,565 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $25.04, for a total transaction of $514,947.60. Following the completion of the transaction, the director now owns 242,827 shares of the company’s stock, valued at $6,080,388.08. This represents a 7.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David Linetsky sold 11,853 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $24.85, for a total value of $294,547.05. Following the transaction, the senior vice president now directly owns 188,354 shares in the company, valued at $4,680,596.90. This trade represents a 5.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,740 shares of company stock worth $5,441,409. 5.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PHR. Citigroup boosted their price objective on shares of Phreesia from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Truist Financial lifted their price target on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Needham & Company LLC reissued a “buy” rating and issued a $29.00 target price on shares of Phreesia in a report on Friday, January 10th. Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $24.00 to $32.00 in a research report on Wednesday, January 8th. Finally, KeyCorp raised their price target on shares of Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $31.15.

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.