Bank of New York Mellon Corp Buys 14,502 Shares of Phreesia, Inc. (NYSE:PHR)

Bank of New York Mellon Corp increased its position in Phreesia, Inc. (NYSE:PHR - Free Report) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 195,267 shares of the company's stock after buying an additional 14,502 shares during the quarter. Bank of New York Mellon Corp owned about 0.34% of Phreesia worth $4,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PHR. R Squared Ltd purchased a new position in shares of Phreesia during the 4th quarter valued at approximately $30,000. BankPlus Trust Department acquired a new stake in Phreesia during the fourth quarter worth about $34,000. Venturi Wealth Management LLC acquired a new stake in shares of Phreesia during the 4th quarter worth approximately $76,000. XTX Topco Ltd acquired a new position in shares of Phreesia during the third quarter valued at $247,000. Finally, Handelsbanken Fonder AB grew its position in shares of Phreesia by 23.5% during the fourth quarter. Handelsbanken Fonder AB now owns 12,600 shares of the company's stock worth $317,000 after acquiring an additional 2,400 shares during the last quarter. 92.10% of the stock is owned by institutional investors and hedge funds.

Phreesia Price Performance

Phreesia stock traded down $0.16 during trading hours on Friday, hitting $27.45. 330,500 shares of the stock were exchanged, compared to its average volume of 417,095. The stock has a market capitalization of $1.61 billion, a P/E ratio of -18.68 and a beta of 1.03. Phreesia, Inc. has a 12 month low of $17.07 and a 12 month high of $30.53. The business's 50-day moving average is $27.32 and its two-hundred day moving average is $24.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74.

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Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Truist Financial raised their price target on Phreesia from $31.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Robert W. Baird dropped their target price on shares of Phreesia from $34.00 to $30.00 and set an "outperform" rating on the stock in a report on Wednesday, December 11th. KeyCorp raised their price objective on Phreesia from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 8th. Canaccord Genuity Group boosted their price objective on Phreesia from $34.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, March 13th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $33.00 target price (up previously from $31.00) on shares of Phreesia in a research report on Wednesday, January 29th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $31.33.

Insider Transactions at Phreesia

In related news, COO Evan Roberts sold 2,873 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $26.61, for a total value of $76,450.53. Following the sale, the chief operating officer now directly owns 779,993 shares of the company's stock, valued at approximately $20,755,613.73. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Allison C. Hoffman sold 3,496 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.32, for a total value of $88,518.72. Following the transaction, the general counsel now directly owns 139,134 shares of the company's stock, valued at $3,522,872.88. This represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,442 shares of company stock worth $4,611,300. Corporate 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.