Legato Capital Management LLC Sells 9,642 Shares of Phreesia, Inc. (NYSE:PHR)

Legato Capital Management LLC reduced its stake in Phreesia, Inc. (NYSE:PHR) by 23.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,769 shares of the company’s stock after selling 9,642 shares during the quarter. Legato Capital Management LLC owned about 0.05% of Phreesia worth $774,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PHR. Wesbanco Bank Inc. purchased a new position in shares of Phreesia in the 3rd quarter valued at approximately $593,000. Trust Point Inc. raised its position in shares of Phreesia by 3.5% in the 3rd quarter. Trust Point Inc. now owns 17,887 shares of the company’s stock valued at $408,000 after purchasing an additional 607 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Phreesia by 2,179.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock valued at $33,000 after purchasing an additional 1,395 shares during the last quarter. Arcadia Investment Management Corp MI raised its position in shares of Phreesia by 9.5% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 97,085 shares of the company’s stock valued at $2,213,000 after purchasing an additional 8,460 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its position in shares of Phreesia by 2.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 868,409 shares of the company’s stock valued at $19,791,000 after purchasing an additional 19,395 shares during the last quarter. 92.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Phreesia

In related news, CFO Balaji Gandhi sold 4,813 shares of Phreesia stock in a transaction on Monday, January 27th. The shares were sold at an average price of $27.48, for a total value of $132,261.24. Following the sale, the chief financial officer now owns 144,933 shares of the company’s stock, valued at approximately $3,982,758.84. This trade represents a 3.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Weintraub sold 15,152 shares of Phreesia stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $21.01, for a total transaction of $318,343.52. Following the completion of the sale, the director now directly owns 242,827 shares in the company, valued at $5,101,795.27. This represents a 5.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 167,173 shares of company stock valued at $4,221,400. 5.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

PHR has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a research report on Friday, January 10th. Citigroup raised their price target on shares of Phreesia from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Robert W. Baird reduced their price target 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. Piper Sandler reissued an “overweight” rating and set a $33.00 price target (up from $31.00) on shares of Phreesia in a research report on Wednesday, January 29th. Finally, KeyCorp raised their price target on shares of Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $31.15.

Phreesia Price Performance

NYSE:PHR opened at $29.98 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -20.39 and a beta of 0.96. The company has a 50 day moving average price of $26.43 and a 200-day moving average price of $23.59. Phreesia, Inc. has a 1-year low of $17.07 and a 1-year high of $30.02.

Phreesia (NYSE:PHR) last posted its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. The firm had revenue of $106.80 million during the quarter, compared to analyst estimates of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.58) EPS. Equities research analysts forecast that Phreesia, Inc. will post -1.1 EPS for the current year.

Phreesia 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.