Phreesia, Inc. (NYSE:PHR) Position Increased by State Street Corp

State Street Corp lifted its holdings in shares of Phreesia, Inc. (NYSE:PHR - Free Report) by 7.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,327,586 shares of the company's stock after purchasing an additional 88,517 shares during the quarter. State Street Corp owned about 2.30% of Phreesia worth $30,256,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PHR. Verition Fund Management LLC purchased a new stake in Phreesia in the third quarter valued at approximately $357,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Phreesia by 9.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,015 shares of the company's stock valued at $319,000 after purchasing an additional 1,258 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Phreesia by 3.8% during the 3rd quarter. MetLife Investment Management LLC now owns 30,781 shares of the company's stock valued at $701,000 after buying an additional 1,120 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Phreesia by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company's stock valued at $637,000 after buying an additional 905 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Phreesia during the 3rd quarter worth $549,000. Hedge funds and other institutional investors own 92.10% of the company's stock.

Phreesia Stock Up 5.5 %

PHR stock traded up $1.32 during trading on Friday, reaching $25.16. The stock had a trading volume of 749,260 shares, compared to its average volume of 452,361. The company has a current ratio of 1.74, a quick ratio of 1.77 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average price of $20.81 and a 200 day moving average price of $21.98. The company has a market capitalization of $1.46 billion, a P/E ratio of -17.12 and a beta of 0.98. Phreesia, Inc. has a 1-year low of $17.07 and a 1-year high of $29.16.

Phreesia (NYSE:PHR - Get Free Report) last released its quarterly 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 analysts' expectations of $106.33 million. During the same quarter in the previous year, the firm posted ($0.58) earnings per share. The company's revenue was up 16.6% compared to the same quarter last year. On average, equities analysts anticipate that Phreesia, Inc. will post -1.16 earnings per share for the current year.

Insider Activity

In related news, Director Michael Weintraub sold 20,565 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $25.04, for a total value of $514,947.60. Following the completion of the sale, the director now directly owns 242,827 shares of the company's stock, valued at $6,080,388.08. The trade was a 7.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Allison C. Hoffman sold 1,212 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total value of $25,488.36. Following the transaction, the general counsel now directly owns 119,791 shares in the company, valued at approximately $2,519,204.73. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 90,342 shares of company stock worth $2,041,225. 5.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PHR shares. Needham & Company LLC reiterated a "buy" rating and issued a $29.00 target price on shares of Phreesia in a report on Tuesday, December 10th. Royal Bank of Canada reiterated a "sector perform" rating and set a $23.00 target price on shares of Phreesia in a report on Friday, September 27th. JMP Securities restated a "market outperform" rating and issued a $30.00 price target on shares of Phreesia in a report on Tuesday, December 10th. DA Davidson reaffirmed a "buy" rating and set a $32.00 price target on shares of Phreesia in a research report on Thursday, September 5th. Finally, Robert W. Baird dropped their price objective on shares of Phreesia from $34.00 to $30.00 and set an "outperform" rating for the company in a research report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phreesia has an average rating of "Moderate Buy" and a consensus target price of $29.33.

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.