Phreesia, Inc. (NYSE:PHR) Shares Sold by Rock Springs Capital Management LP

Rock Springs Capital Management LP lowered its position in Phreesia, Inc. (NYSE:PHR - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,040,000 shares of the company's stock after selling 242,500 shares during the quarter. Phreesia makes up approximately 2.0% of Rock Springs Capital Management LP's portfolio, making the stock its 16th biggest position. Rock Springs Capital Management LP owned about 3.51% of Phreesia worth $51,326,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PHR. R Squared Ltd purchased a new position in Phreesia during the fourth quarter valued at $30,000. BankPlus Trust Department bought a new stake in Phreesia during the fourth quarter worth about $34,000. Venturi Wealth Management LLC bought a new stake in Phreesia during the fourth quarter worth about $76,000. Smartleaf Asset Management LLC increased its stake in shares of Phreesia by 154.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,442 shares of the company's stock valued at $89,000 after purchasing an additional 2,090 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Phreesia by 12.1% during the fourth quarter. NewEdge Advisors LLC now owns 4,256 shares of the company's stock valued at $107,000 after purchasing an additional 459 shares during the last quarter. 92.10% of the stock is owned by hedge funds and other institutional investors.

Phreesia Stock Performance

Shares of NYSE:PHR traded up $0.41 during mid-day trading on Thursday, reaching $24.59. 367,481 shares of the company traded hands, compared to its average volume of 433,865. The company's 50 day moving average price is $25.72 and its 200-day moving average price is $24.32. The firm has a market cap of $1.45 billion, a PE ratio of -16.73 and a beta of 0.82. 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 current ratio of 1.74 and a quick ratio of 1.74.

Insider Buying and Selling

In other news, CFO Balaji Gandhi sold 28,759 shares of Phreesia stock in a transaction 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 in the company, valued at approximately $3,485,220. This trade represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David Linetsky sold 4,499 shares of Phreesia stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $23.73, for a total transaction of $106,761.27. Following the sale, the senior vice president now owns 217,239 shares of the company's stock, valued at $5,155,081.47. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,057 shares of company stock worth $4,070,658. 5.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and set a $33.00 price objective (up previously from $31.00) on shares of Phreesia in a research report on Wednesday, January 29th. Citigroup upped their price target on shares of Phreesia from $31.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $29.00 target price on shares of Phreesia in a report on Thursday, March 13th. DA Davidson dropped their target price on shares of Phreesia from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Royal Bank of Canada upgraded Phreesia from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $24.00 to $32.00 in a research note on Wednesday, January 8th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently 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.