Essex Investment Management Co. LLC Sells 15,111 Shares of Phreesia, Inc. (NYSE:PHR)

Essex Investment Management Co. LLC reduced its stake in Phreesia, Inc. (NYSE:PHR - Free Report) by 12.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,738 shares of the company's stock after selling 15,111 shares during the period. Essex Investment Management Co. LLC owned approximately 0.18% of Phreesia worth $2,585,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in Phreesia by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company's stock worth $637,000 after purchasing an additional 905 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Phreesia by 3.8% in the third quarter. MetLife Investment Management LLC now owns 30,781 shares of the company's stock worth $701,000 after purchasing an additional 1,120 shares during the period. R Squared Ltd purchased a new stake in shares of Phreesia in the fourth quarter worth $30,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Phreesia by 9.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,015 shares of the company's stock valued at $319,000 after buying an additional 1,258 shares during the period. Finally, BankPlus Trust Department purchased a new position in Phreesia during the fourth quarter worth about $34,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Phreesia

In related news, COO Evan Roberts sold 3,519 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $30.06, for a total value of $105,781.14. Following the completion of the transaction, the chief operating officer now directly owns 741,197 shares in the company, valued at $22,280,381.82. The trade was a 0.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Allison C. Hoffman sold 3,495 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $24.88, for a total value of $86,955.60. Following the completion of the transaction, the general counsel now directly owns 116,296 shares in the company, valued at $2,893,444.48. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 183,887 shares of company stock valued at $5,146,862 in the last quarter. 5.80% of the stock is owned by insiders.

Remove Ads

Phreesia Stock Up 7.1 %

Shares of NYSE:PHR traded up $1.69 during midday trading on Thursday, reaching $25.49. The company's stock had a trading volume of 1,184,904 shares, compared to its average volume of 424,948. 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 firm has a 50 day moving average of $27.32 and a 200-day moving average of $23.99. The firm has a market capitalization of $1.48 billion, a P/E ratio of -17.34 and a beta of 1.03. Phreesia, Inc. has a 12-month low of $17.07 and a 12-month high of $30.53.

Phreesia (NYSE:PHR - Get Free Report) last released its earnings results on Monday, December 9th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The business had revenue of $106.80 million for the quarter, compared to the consensus estimate of $106.33 million. During the same period in the previous year, the company posted ($0.58) earnings per share. The company's revenue for the quarter was up 16.6% compared to the same quarter last year. On average, research analysts anticipate that Phreesia, Inc. will post -1.1 earnings per share for the current year.

Analysts Set New Price Targets

PHR has been the subject of several research analyst reports. Royal Bank of Canada upgraded shares of Phreesia from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $24.00 to $32.00 in a research report on Wednesday, January 8th. Canaccord Genuity Group lifted their price objective on shares of Phreesia from $34.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday. Truist Financial upped their target price on shares of Phreesia from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Needham & Company LLC restated a "buy" rating and set a $29.00 price target on shares of Phreesia in a research report on Thursday. Finally, Citigroup upped their price objective on Phreesia from $31.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $31.23.

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.