Short Interest in Phreesia, Inc. (NYSE:PHR) Drops By 17.6%

Phreesia, Inc. (NYSE:PHR) saw a significant decrease in short interest in February. As of February 28th, there was short interest totalling 2,060,000 shares, a decrease of 17.6% from the February 13th total of 2,500,000 shares. Based on an average daily trading volume, of 412,300 shares, the short-interest ratio is presently 5.0 days. Approximately 3.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PHR shares. Piper Sandler restated an “overweight” rating and issued a $33.00 target price (up previously from $31.00) on shares of Phreesia in a report on Wednesday, January 29th. KeyCorp upped their target price on shares of Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Robert W. Baird lowered their target price on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Canaccord Genuity Group upped their target price on shares of Phreesia from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, March 13th. Finally, Citigroup increased their price objective on shares of Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $31.33.

Insider Transactions at Phreesia

In other Phreesia news, SVP Amy Beth Vanduyn sold 1,311 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $26.61, for a total transaction of $34,885.71. Following the sale, the senior vice president now owns 115,633 shares of the company’s stock, valued at approximately $3,076,994.13. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Allison C. Hoffman sold 3,495 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $24.88, for a total transaction of $86,955.60. Following the transaction, the general counsel now directly owns 116,296 shares in the company, valued at $2,893,444.48. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,426 shares of company stock worth $4,609,295. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. boosted its holdings in Phreesia by 0.9% in the 4th quarter. Invesco Ltd. now owns 40,249 shares of the company’s stock worth $1,013,000 after buying an additional 357 shares during the period. NewEdge Advisors LLC grew its position in shares of Phreesia by 12.1% during the 4th quarter. NewEdge Advisors LLC now owns 4,256 shares of the company’s stock valued at $107,000 after purchasing an additional 459 shares in the last quarter. Johnson Financial Group Inc. grew its position in Phreesia by 381.3% in the fourth quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock worth $28,000 after acquiring an additional 896 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Phreesia by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company’s stock worth $637,000 after acquiring an additional 905 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in Phreesia by 3.8% in the third quarter. MetLife Investment Management LLC now owns 30,781 shares of the company’s stock worth $701,000 after acquiring an additional 1,120 shares in the last quarter. 92.10% of the stock is owned by institutional investors.

Phreesia Stock Performance

Shares of PHR stock traded up $0.31 during trading hours on Tuesday, hitting $27.24. 680,879 shares of the company were exchanged, compared to its average volume of 416,613. The firm has a fifty day simple moving average of $27.32 and a 200 day simple moving average of $23.99. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -18.53 and a beta of 1.03. Phreesia has a 52-week low of $17.07 and a 52-week high of $30.53. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04.

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.