Franklin Resources Inc. Acquires 42,973 Shares of Phreesia, Inc. (NYSE:PHR)

Franklin Resources Inc. grew its holdings in shares of Phreesia, Inc. (NYSE:PHR) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,497,631 shares of the company’s stock after acquiring an additional 42,973 shares during the period. Franklin Resources Inc.’s holdings in Phreesia were worth $31,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PHR. Trust Point Inc. boosted its position in shares of Phreesia by 3.5% in the third quarter. Trust Point Inc. now owns 17,887 shares of the company’s stock worth $408,000 after purchasing an additional 607 shares during the period. Ensign Peak Advisors Inc lifted its stake in shares of Phreesia by 3.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 22,491 shares of the company’s stock valued at $477,000 after buying an additional 700 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Phreesia by 1.0% during the 2nd quarter. Rhumbline Advisers now owns 82,136 shares of the company’s stock valued at $1,741,000 after buying an additional 853 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings 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 buying an additional 905 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Phreesia by 3.8% in the 3rd quarter. MetLife Investment Management LLC now owns 30,781 shares of the company’s stock worth $701,000 after buying an additional 1,120 shares in the last quarter. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Phreesia

In other news, General Counsel Allison C. Hoffman sold 1,212 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total transaction of $25,488.36. Following the transaction, the general counsel now owns 119,791 shares of the company’s stock, valued at approximately $2,519,204.73. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Weintraub sold 20,565 shares of the firm’s stock in a transaction on 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 owns 242,827 shares of the company’s stock, valued at approximately $6,080,388.08. This represents a 7.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,823 shares of company stock worth $1,953,660 over the last ninety days. Company insiders own 5.80% of the company’s stock.

Phreesia Price Performance

Phreesia stock opened at $24.01 on Thursday. Phreesia, Inc. has a 52-week low of $17.07 and a 52-week high of $29.16. The company has a quick ratio of 1.77, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average is $20.66 and its 200 day moving average is $21.90. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -16.33 and a beta of 0.98.

Phreesia (NYSE:PHR) last announced its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The firm had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $106.33 million. During the same period in the prior year, the company earned ($0.58) EPS. The business’s revenue was up 16.6% compared to the same quarter last year. Sell-side analysts forecast that Phreesia, Inc. will post -1.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PHR has been the topic of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $23.00 price objective on shares of Phreesia in a research report on Friday, September 27th. DA Davidson restated a “buy” rating and issued a $32.00 price target on shares of Phreesia in a research note on Thursday, September 5th. Robert W. Baird cut their price objective on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Canaccord Genuity Group reissued a “buy” rating and issued a $34.00 target price on shares of Phreesia in a report on Thursday, September 5th. Finally, JMP Securities restated a “market outperform” rating and set a $30.00 target price on shares of Phreesia in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.33.

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.