Phreesia (NYSE:PHR) Stock Price Down 4.2%

Phreesia, Inc. (NYSE:PHR)’s share price fell 4.2% on Thursday . The stock traded as low as $23.03 and last traded at $23.15. 183,188 shares were traded during mid-day trading, a decline of 60% from the average session volume of 462,161 shares. The stock had previously closed at $24.17.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Stephens restated an “overweight” rating and set a $28.00 price objective on shares of Phreesia in a research note on Friday, May 31st. Royal Bank of Canada reissued a “sector perform” rating and set a $23.00 price target on shares of Phreesia in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a report on Thursday. DA Davidson reissued a “buy” rating and set a $32.00 target price on shares of Phreesia in a report on Thursday. Finally, Truist Financial lifted their price target on shares of Phreesia from $29.00 to $31.00 and gave the company a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.92.

Phreesia Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.76 and a current ratio of 1.76. The business has a fifty day moving average of $23.38 and a 200-day moving average of $22.79. The firm has a market capitalization of $1.35 billion, a P/E ratio of -10.85 and a beta of 0.93.

Insider Activity

In other Phreesia news, CEO Chaim Indig sold 2,644 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $23.74, for a total transaction of $62,768.56. Following the transaction, the chief executive officer now owns 1,219,361 shares of the company’s stock, valued at approximately $28,947,630.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Phreesia news, CEO Chaim Indig sold 2,644 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $23.74, for a total transaction of $62,768.56. Following the completion of the transaction, the chief executive officer now directly owns 1,219,361 shares of the company’s stock, valued at approximately $28,947,630.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Allison C. Hoffman sold 14,110 shares of Phreesia stock in a transaction on Monday, August 26th. The shares were sold at an average price of $26.03, for a total value of $367,283.30. Following the transaction, the general counsel now owns 121,003 shares in the company, valued at $3,149,708.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,337 shares of company stock valued at $736,750. Company insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Phreesia by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 4,628,441 shares of the company’s stock worth $107,148,000 after purchasing an additional 194,035 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of Phreesia during the 1st quarter valued at $29,941,000. Brown Advisory Inc. boosted its stake in shares of Phreesia by 22.2% during the 4th quarter. Brown Advisory Inc. now owns 3,950,356 shares of the company’s stock worth $91,451,000 after acquiring an additional 716,374 shares in the last quarter. Boston Partners acquired a new position in shares of Phreesia in the 1st quarter worth $669,000. Finally, Blair William & Co. IL raised its position in shares of Phreesia by 42.6% during the first quarter. Blair William & Co. IL now owns 752,700 shares of the company’s stock worth $18,012,000 after purchasing an additional 224,950 shares during the period. 92.10% of the stock is owned by institutional investors and hedge funds.

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.