Phreesia (NYSE:PHR) Shares Up 7.2% – What’s Next?

Shares of Phreesia, Inc. (NYSE:PHR) shot up 7.2% during mid-day trading on Wednesday . The company traded as high as $29.18 and last traded at $29.23. 432,118 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 415,837 shares. The stock had previously closed at $27.27.

Analyst Ratings Changes

A number of brokerages have issued reports on PHR. Robert W. Baird cut their price target on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Truist Financial raised their price objective on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Piper Sandler restated an “overweight” rating and set a $33.00 price objective (up previously from $31.00) on shares of Phreesia in a research report on Wednesday, January 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $30.00 price target on shares of Phreesia in a report on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 price target on shares of Phreesia in a report on Thursday, March 13th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $31.33.

Phreesia Trading Up 7.1 %

The firm has a market capitalization of $1.72 billion, a PE ratio of -19.94 and a beta of 1.03. The stock’s 50-day moving average price is $27.32 and its 200 day moving average price is $24.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74.

Insider Transactions at Phreesia

In related news, General Counsel Allison C. Hoffman sold 3,496 shares of Phreesia stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $29.72, for a total transaction of $103,901.12. Following the transaction, the general counsel now directly owns 142,630 shares of the company’s stock, valued at $4,238,963.60. This trade represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Balaji Gandhi sold 3,195 shares of Phreesia stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $26.61, for a total transaction of $85,018.95. Following the transaction, the chief financial officer now directly owns 148,509 shares in the company, valued at approximately $3,951,824.49. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,907 shares of company stock valued at $4,521,730. 5.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Phreesia

Several institutional investors have recently bought and sold shares of PHR. Johnson Financial Group Inc. increased its holdings in Phreesia by 381.3% during the fourth quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock valued at $28,000 after buying an additional 896 shares during the period. R Squared Ltd purchased a new position in Phreesia during the fourth quarter valued at approximately $30,000. BankPlus Trust Department purchased a new position in Phreesia during the fourth quarter valued at approximately $34,000. Quarry LP grew its holdings in Phreesia by 210.9% in the fourth quarter. Quarry LP now owns 2,835 shares of the company’s stock worth $71,000 after purchasing an additional 1,923 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in Phreesia in the fourth quarter worth $76,000. 92.10% of the stock is owned by hedge funds and other institutional investors.

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.