Phreesia (NYSE:PHR) Shares Down 5.7%

Phreesia, Inc. (NYSE:PHR) shares dropped 5.7% during trading on Wednesday . The company traded as low as $21.71 and last traded at $21.82. Approximately 292,763 shares changed hands during trading, a decline of 43% from the average daily volume of 514,009 shares. The stock had previously closed at $23.14.

Analyst Ratings Changes

PHR has been the topic of a number of research analyst reports. JMP Securities raised their price target on Phreesia from $28.00 to $30.00 and gave the stock a “market outperform” rating in a research note on Thursday, March 21st. Canaccord Genuity Group raised their price target on Phreesia from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Barclays initiated coverage on Phreesia in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $29.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $29.00 price target on shares of Phreesia in a research note on Friday, March 15th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 price objective on shares of Phreesia in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.62.

Phreesia Trading Down 5.2 %

The company has a market cap of $1.24 billion, a price-to-earnings ratio of -8.64 and a beta of 0.92. The firm has a 50-day moving average price of $24.08 and a 200 day moving average price of $21.40. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.02.

Phreesia (NYSE:PHR) last issued its earnings results on Thursday, March 14th. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.02. Phreesia had a negative return on equity of 53.33% and a negative net margin of 38.42%. The company had revenue of $95.00 million during the quarter, compared to analyst estimates of $93.52 million. During the same quarter last year, the firm earned ($0.72) EPS. The business’s revenue was up 24.0% on a year-over-year basis. As a group, sell-side analysts forecast that Phreesia, Inc. will post -1.48 EPS for the current year.

Insiders Place Their Bets

In other news, insider Janet Gunzburg sold 2,817 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $23.27, for a total value of $65,551.59. Following the sale, the insider now owns 40,609 shares of the company’s stock, valued at approximately $944,971.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Janet Gunzburg sold 2,817 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $23.27, for a total value of $65,551.59. Following the sale, the insider now owns 40,609 shares of the company’s stock, valued at approximately $944,971.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Evan Roberts sold 2,029 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $22.86, for a total value of $46,382.94. Following the completion of the sale, the chief operating officer now directly owns 754,903 shares in the company, valued at approximately $17,257,082.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,989 shares of company stock worth $1,911,735. 5.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Phreesia

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of Phreesia by 1,987.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,482 shares of the company’s stock worth $34,000 after purchasing an additional 1,411 shares during the period. Acadian Asset Management LLC purchased a new position in Phreesia in the third quarter valued at about $53,000. Russell Investments Group Ltd. grew its stake in Phreesia by 5,462.3% in the fourth quarter. Russell Investments Group Ltd. now owns 3,838 shares of the company’s stock valued at $89,000 after purchasing an additional 3,769 shares in the last quarter. SG Americas Securities LLC purchased a new position in Phreesia in the third quarter valued at about $132,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Phreesia in the third quarter valued at about $137,000. 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.