Dynamic Technology Lab Private Ltd Takes Position in Phreesia, Inc. (NYSE:PHR)

Dynamic Technology Lab Private Ltd purchased a new stake in Phreesia, Inc. (NYSE:PHR - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 24,079 shares of the company's stock, valued at approximately $549,000.

A number of other hedge funds also recently made changes to their positions in the business. Deerfield Management Company L.P. Series C bought a new stake in Phreesia in the second quarter valued at about $4,078,000. Champlain Investment Partners LLC boosted its holdings in Phreesia by 4.1% during the third quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company's stock valued at $57,062,000 after purchasing an additional 97,847 shares in the last quarter. Sei Investments Co. grew its stake in shares of Phreesia by 135.3% in the 2nd quarter. Sei Investments Co. now owns 165,327 shares of the company's stock valued at $3,505,000 after purchasing an additional 95,058 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Phreesia by 56.3% in the 2nd quarter. Squarepoint Ops LLC now owns 250,396 shares of the company's stock worth $5,308,000 after buying an additional 90,215 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Phreesia during the 3rd quarter worth approximately $954,000. Institutional investors and hedge funds own 92.10% of the company's stock.

Wall Street Analysts Forecast Growth

PHR has been the subject of several recent analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $23.00 price objective on shares of Phreesia in a research note on Friday, September 27th. Truist Financial increased their target price on shares of Phreesia from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their price target on shares of Phreesia from $27.00 to $28.00 and gave the company an "overweight" rating in a research report on Monday, September 9th. DA Davidson reaffirmed a "buy" rating and set a $32.00 price objective on shares of Phreesia in a research note on Thursday, September 5th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $29.00 target price on shares of Phreesia in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $29.42.

Phreesia Price Performance

Shares of Phreesia stock traded up $0.73 during midday trading on Friday, reaching $21.03. The company had a trading volume of 240,433 shares, compared to its average volume of 446,500. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $20.43 and a 200 day simple moving average of $21.86. Phreesia, Inc. has a 1-year low of $14.55 and a 1-year high of $29.16. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -11.68 and a beta of 0.94.

Phreesia (NYSE:PHR - Get Free Report) last released its earnings results on Wednesday, September 4th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.06. Phreesia had a negative return on equity of 39.34% and a negative net margin of 25.73%. The company had revenue of $102.12 million during the quarter, compared to analysts' expectations of $101.76 million. As a group, equities research analysts forecast that Phreesia, Inc. will post -1.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Chaim Indig sold 5,295 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.25, for a total value of $123,108.75. Following the completion of the sale, the chief executive officer now owns 1,223,736 shares in the company, valued at approximately $28,451,862. This represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Allison C. Hoffman sold 1,212 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total value of $25,488.36. Following the transaction, the general counsel now owns 119,791 shares in the company, valued at approximately $2,519,204.73. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,997 shares of company stock valued at $667,943. 5.80% of the stock is currently owned by insiders.

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.