Nicholas Company Inc. Makes New $2.45 Million Investment in Phreesia, Inc. (NYSE:PHR)

Nicholas Company Inc. bought a new position in Phreesia, Inc. (NYSE:PHR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 97,476 shares of the company's stock, valued at approximately $2,452,000. Nicholas Company Inc. owned approximately 0.17% of Phreesia at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zacks Investment Management bought a new position in shares of Phreesia in the third quarter worth approximately $631,000. State Street Corp boosted its holdings in Phreesia by 7.1% in the 3rd quarter. State Street Corp now owns 1,327,586 shares of the company's stock worth $30,256,000 after buying an additional 88,517 shares during the period. Wesbanco Bank Inc. increased its stake in 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 buying an additional 20,000 shares in the last quarter. Barclays PLC raised its holdings in Phreesia by 83.6% during the third quarter. Barclays PLC now owns 94,929 shares of the company's stock valued at $2,163,000 after acquiring an additional 43,225 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Phreesia by 3.0% in the third quarter. Franklin Resources Inc. now owns 1,497,631 shares of the company's stock valued at $31,495,000 after acquiring an additional 42,973 shares in the last quarter. Institutional investors own 92.10% of the company's stock.

Insider Activity at Phreesia

In other Phreesia news, CFO Balaji Gandhi sold 3,195 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $26.61, for a total transaction of $85,018.95. Following the sale, the chief financial officer now directly owns 148,509 shares in the company, valued at $3,951,824.49. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Allison C. Hoffman sold 3,496 shares of Phreesia stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.32, for a total value of $88,518.72. Following the completion of the transaction, the general counsel now owns 139,134 shares of the company's stock, valued at approximately $3,522,872.88. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 162,403 shares of company stock valued at $4,610,249. Insiders own 5.80% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PHR. Citigroup increased their target price on Phreesia from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Truist Financial increased their price objective on shares of Phreesia from $31.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Canaccord Genuity Group boosted their target price on shares of Phreesia from $34.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, March 13th. Piper Sandler reaffirmed an "overweight" rating and set a $33.00 target price (up from $31.00) on shares of Phreesia in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada upgraded shares of Phreesia from a "sector perform" rating to an "outperform" rating and lifted their price target for the company from $24.00 to $32.00 in a report on Wednesday, January 8th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $31.33.

Phreesia Price Performance

Shares of NYSE:PHR traded down $1.42 on Thursday, reaching $27.59. The company's stock had a trading volume of 648,261 shares, compared to its average volume of 416,593. The company has a 50-day simple moving average of $27.33 and a 200 day simple moving average of $24.04. Phreesia, Inc. has a 52-week low of $17.07 and a 52-week high of $30.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74. The company has a market cap of $1.62 billion, a P/E ratio of -18.77 and a beta of 1.03.

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.