Phreesia (NYSE:PHR) Shares Down 12% - Here's What Happened

Phreesia, Inc. (NYSE:PHR - Get Free Report)'s stock price was down 12% during trading on Friday . The stock traded as low as $18.26 and last traded at $18.48. Approximately 81,020 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 445,655 shares. The stock had previously closed at $21.00.

Analysts Set New Price Targets

A number of analysts have commented on the company. DA Davidson restated a "buy" rating and issued a $32.00 price target on shares of Phreesia in a research report on Thursday, September 5th. Robert W. Baird raised their target price on shares of Phreesia from $31.00 to $34.00 and gave the stock an "outperform" rating in a research note on Friday, September 6th. JPMorgan Chase & Co. upped their price target on shares of Phreesia from $27.00 to $28.00 and gave the stock an "overweight" rating in a research report on Monday, September 9th. Truist Financial raised their price objective on shares of Phreesia from $29.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $34.00 target price on shares of Phreesia in a report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $29.42.

Phreesia Trading Down 14.1 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a 50-day moving average price of $21.39 and a two-hundred day moving average price of $22.03. The stock has a market cap of $1.04 billion, a PE ratio of -10.39 and a beta of 0.94.

Phreesia (NYSE:PHR - Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.31) EPS for the quarter, beating analysts' consensus estimates of ($0.37) by $0.06. Phreesia had a negative return on equity of 39.34% and a negative net margin of 25.73%. The company had revenue of $102.12 million during the quarter, compared to analyst estimates of $101.76 million. Sell-side analysts forecast that Phreesia, Inc. will post -1.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Phreesia news, General Counsel Allison C. Hoffman sold 14,110 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $26.03, for a total transaction of $367,283.30. Following the sale, the general counsel now directly owns 121,003 shares in the company, valued at $3,149,708.09. This represents a 10.44 % 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, CEO Chaim Indig sold 5,295 shares of Phreesia stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.25, for a total value of $123,108.75. Following the completion of the transaction, the chief executive officer now owns 1,223,736 shares of the company's stock, valued at approximately $28,451,862. This trade represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,107 shares of company stock worth $1,035,226. Insiders own 5.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PHR. International Assets Investment Management LLC lifted its holdings in shares of Phreesia by 2,179.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,459 shares of the company's stock worth $33,000 after acquiring an additional 1,395 shares during the last quarter. nVerses Capital LLC lifted its stake in Phreesia by 76.5% in the second quarter. nVerses Capital LLC now owns 3,000 shares of the company's stock worth $64,000 after purchasing an additional 1,300 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Phreesia during the first quarter valued at approximately $169,000. Quadrature Capital Ltd bought a new position in shares of Phreesia during the first quarter valued at approximately $202,000. Finally, Lombard Odier Asset Management USA Corp purchased a new stake in shares of Phreesia in the second quarter worth approximately $202,000. Institutional investors own 92.10% of the company's stock.

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.