Norges Bank Takes $2.80 Million Position in Phreesia, Inc. (NYSE:PHR)

Norges Bank bought a new stake in Phreesia, Inc. (NYSE:PHR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 111,438 shares of the company's stock, valued at approximately $2,804,000. Norges Bank owned about 0.19% of Phreesia as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in Phreesia by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company's stock worth $637,000 after acquiring an additional 905 shares during the period. R Squared Ltd purchased a new position in shares of Phreesia during the 4th quarter worth $30,000. BankPlus Trust Department acquired a new stake in Phreesia in the 4th quarter worth about $34,000. Swiss National Bank boosted its position in shares of Phreesia by 1.3% in the fourth quarter. Swiss National Bank now owns 107,900 shares of the company's stock worth $2,715,000 after acquiring an additional 1,400 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Phreesia by 4.6% during the 3rd quarter. M&T Bank Corp now owns 35,127 shares of the company's stock valued at $801,000 after buying an additional 1,535 shares during the period. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Phreesia Price Performance

Shares of NYSE PHR traded down $0.36 during trading on Wednesday, hitting $23.60. The company had a trading volume of 30,673 shares, compared to its average volume of 431,517. Phreesia, Inc. has a 52 week low of $17.07 and a 52 week high of $30.53. The company has a market cap of $1.39 billion, a P/E ratio of -16.02 and a beta of 0.82. 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 business's 50-day moving average is $26.37 and its 200 day moving average is $24.28.

Insiders Place Their Bets

In other Phreesia news, COO Evan Roberts sold 12,749 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $27.31, for a total value of $348,175.19. Following the transaction, the chief operating officer now owns 755,459 shares in the company, valued at $20,631,585.29. The trade was a 1.66 % 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 28,759 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $30.00, for a total transaction of $862,770.00. Following the completion of the sale, the chief financial officer now directly owns 116,174 shares of the company's stock, valued at $3,485,220. This represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,791 shares of company stock worth $4,700,424. Company insiders own 5.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PHR shares. Piper Sandler reissued an "overweight" rating and set a $33.00 target price (up previously from $31.00) on shares of Phreesia in a research report on Wednesday, January 29th. Needham & Company LLC reiterated a "buy" rating and issued a $29.00 price target on shares of Phreesia in a research note on Thursday, March 13th. KeyCorp reduced their price objective on shares of Phreesia from $30.00 to $28.00 and set an "overweight" rating on the stock in a research note on Wednesday. Royal Bank of Canada upgraded Phreesia from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $24.00 to $32.00 in a research report on Wednesday, January 8th. Finally, 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. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $31.33.

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.