Franklin Resources Inc. Acquires 42,973 Shares of Phreesia, Inc. (NYSE:PHR)

Franklin Resources Inc. grew its position in Phreesia, Inc. (NYSE:PHR - Free Report) by 3.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,497,631 shares of the company's stock after acquiring an additional 42,973 shares during the period. Franklin Resources Inc. owned 2.59% of Phreesia worth $31,495,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Champlain Investment Partners LLC raised its stake in shares of 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 acquiring an additional 97,847 shares during the last quarter. State Street Corp increased its holdings in Phreesia by 7.1% in the third quarter. State Street Corp now owns 1,327,586 shares of the company's stock valued at $30,256,000 after purchasing an additional 88,517 shares during the period. Geode Capital Management LLC raised its position in 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 purchasing an additional 55,934 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in Phreesia by 2.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 868,409 shares of the company's stock worth $19,791,000 after buying an additional 19,395 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Phreesia by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,239 shares of the company's stock valued at $10,193,000 after buying an additional 16,112 shares during the last quarter. 92.10% of the stock is currently owned by institutional investors.

Phreesia Stock Performance

Shares of NYSE:PHR traded down $0.17 during midday trading on Thursday, reaching $23.84. The company had a trading volume of 379,492 shares, compared to its average volume of 451,149. The stock has a market cap of $1.39 billion, a P/E ratio of -16.22 and a beta of 0.98. The company's 50 day moving average price is $20.66 and its 200 day moving average price is $21.90. The company has a current ratio of 1.74, a quick ratio of 1.77 and a debt-to-equity ratio of 0.04. Phreesia, Inc. has a 52-week low of $17.07 and a 52-week high of $29.16.

Phreesia (NYSE:PHR - Get Free Report) last released its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.04. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The firm had revenue of $106.80 million for the quarter, compared to analysts' expectations of $106.33 million. During the same period in the previous year, the company earned ($0.58) earnings per share. The company's quarterly revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Phreesia, Inc. will post -1.16 EPS for the current fiscal year.

Insider Activity at Phreesia

In other Phreesia news, insider Yvonne Hui sold 2,791 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $20.92, for a total transaction of $58,387.72. Following the sale, the insider now owns 27,228 shares in the company, valued at $569,609.76. This represents a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David Linetsky sold 2,011 shares of Phreesia stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total value of $42,291.33. Following the completion of the transaction, the senior vice president now owns 201,307 shares of the company's stock, valued at approximately $4,233,486.21. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,342 shares of company stock worth $2,041,225. Insiders own 5.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PHR shares. DA Davidson reaffirmed a "buy" rating and issued a $32.00 price objective on shares of Phreesia in a research note on Thursday, September 5th. Canaccord Genuity Group reiterated a "buy" rating and issued a $34.00 target price on shares of Phreesia in a report on Thursday, September 5th. Royal Bank of Canada reissued a "sector perform" rating and set a $23.00 price objective on shares of Phreesia in a report on Friday, September 27th. JMP Securities reiterated a "market outperform" rating and set a $30.00 price target on shares of Phreesia in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised their price objective on Phreesia from $27.00 to $28.00 and gave the company an "overweight" rating in a research note on Monday, September 9th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $29.33.

Phreesia 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.