Phreesia (NYSE:PHR) Trading Down 5.3% Following Insider Selling

Phreesia, Inc. (NYSE:PHR)’s stock price traded down 5.3% during trading on Thursday following insider selling activity. The company traded as low as $26.67 and last traded at $26.70. 664,138 shares were traded during trading, an increase of 50% from the average session volume of 441,582 shares. The stock had previously closed at $28.19.

Specifically, Director Michael Weintraub sold 2,569 shares of the company’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $27.86, for a total value of $71,572.34. Following the sale, the director now directly owns 143,039 shares of the company’s stock, valued at $3,985,066.54. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Weintraub sold 7,431 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $27.51, for a total value of $204,426.81. Following the completion of the transaction, the director now directly owns 143,039 shares in the company, valued at $3,935,002.89. This trade represents a 4.94% decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PHR. Needham & Company LLC restated a “buy” rating and set a $29.00 price objective on shares of Phreesia in a report on Thursday, March 13th. Citigroup reiterated a “buy” rating on shares of Phreesia in a research report on Wednesday, May 28th. Canaccord Genuity Group reduced their price objective on Phreesia from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. KeyCorp dropped their price objective on Phreesia from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Truist Financial boosted their target price on Phreesia from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.64.

Phreesia Stock Down 5.6%

The stock’s 50-day simple moving average is $24.97 and its 200 day simple moving average is $25.69. The firm has a market cap of $1.58 billion, a P/E ratio of -18.10 and a beta of 0.68. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04.

Phreesia (NYSE:PHR) last released its quarterly earnings data on Wednesday, May 28th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The company had revenue of $115.94 million during the quarter, compared to the consensus estimate of $115.00 million. During the same period last year, the firm earned ($0.05) EPS. Phreesia’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, research analysts forecast that Phreesia, Inc. will post -1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC boosted its position in shares of Phreesia by 83.6% in the third quarter. Barclays PLC now owns 94,929 shares of the company’s stock worth $2,163,000 after purchasing an additional 43,225 shares during the period. Rhumbline Advisers lifted its holdings in shares of Phreesia by 7.4% in the 4th quarter. Rhumbline Advisers now owns 83,631 shares of the company’s stock worth $2,104,000 after acquiring an additional 5,756 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Phreesia in the 4th quarter worth about $76,000. Peregrine Capital Management LLC increased its position in Phreesia by 0.8% during the 4th quarter. Peregrine Capital Management LLC now owns 319,327 shares of the company’s stock valued at $8,034,000 after purchasing an additional 2,531 shares during the period. Finally, Handelsbanken Fonder AB grew its position in Phreesia by 23.5% during the 4th quarter. Handelsbanken Fonder AB now owns 12,600 shares of the company’s stock worth $317,000 after purchasing an additional 2,400 shares during the last quarter. Institutional investors own 92.10% of the company’s stock.

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.