KLP Kapitalforvaltning AS Invests $259,000 in Phreesia, Inc. (NYSE:PHR)

KLP Kapitalforvaltning AS bought a new stake in Phreesia, Inc. (NYSE:PHR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,300 shares of the company's stock, valued at approximately $259,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Phreesia by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 447,239 shares of the company's stock worth $10,193,000 after buying an additional 16,112 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Phreesia by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company's stock valued at $637,000 after acquiring an additional 905 shares during the period. MetLife Investment Management LLC lifted its position in shares of Phreesia by 3.8% during the 3rd quarter. MetLife Investment Management LLC now owns 30,781 shares of the company's stock valued at $701,000 after acquiring an additional 1,120 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Phreesia by 9.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,015 shares of the company's stock worth $319,000 after purchasing an additional 1,258 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Phreesia in the third quarter worth $357,000. 92.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PHR shares. KeyCorp increased their price objective 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. Royal Bank of Canada raised shares of Phreesia from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $24.00 to $32.00 in a research note on Wednesday, January 8th. Canaccord Genuity Group boosted their price objective on shares of Phreesia from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, March 13th. Piper Sandler reiterated an "overweight" rating and issued a $33.00 price target (up previously from $31.00) on shares of Phreesia in a research note on Wednesday, January 29th. Finally, Citigroup upped their price objective on Phreesia from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, Phreesia presently has an average rating of "Buy" and a consensus price target of $31.33.

Phreesia Trading Up 0.3 %

Phreesia stock traded up $0.06 during trading hours on Friday, hitting $24.06. The stock had a trading volume of 472,952 shares, compared to its average volume of 434,961. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -16.37 and a beta of 0.82. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The business's 50 day simple moving average is $26.57 and its 200-day simple moving average is $24.26. Phreesia, Inc. has a one year low of $17.07 and a one year high of $30.53.

Insider Activity at Phreesia

In related news, SVP David Linetsky sold 3,944 shares of the business's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $23.85, for a total value of $94,064.40. Following the sale, the senior vice president now owns 221,738 shares of the company's stock, valued at $5,288,451.30. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Balaji Gandhi sold 5,827 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $27.31, for a total value of $159,135.37. Following the transaction, the chief financial officer now directly owns 141,846 shares of the company's stock, valued at approximately $3,873,814.26. This represents a 3.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 176,963 shares of company stock worth $4,920,321 in the last quarter. 5.80% of the stock is owned by insiders.

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.