Brown Advisory Inc. Sells 1,287,525 Shares of Phreesia, Inc. $PHR

Brown Advisory Inc. cut its stake in Phreesia, Inc. (NYSE:PHR) by 34.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,482,955 shares of the company’s stock after selling 1,287,525 shares during the period. Brown Advisory Inc.’s holdings in Phreesia were worth $70,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mackenzie Financial Corp acquired a new position in shares of Phreesia in the 1st quarter worth approximately $414,000. Vanguard Group Inc. raised its stake in Phreesia by 2.4% during the first quarter. Vanguard Group Inc. now owns 4,936,515 shares of the company’s stock worth $126,177,000 after buying an additional 113,405 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Phreesia by 5.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 522,384 shares of the company’s stock worth $13,352,000 after buying an additional 28,936 shares during the last quarter. Deutsche Bank AG lifted its holdings in Phreesia by 30.6% in the first quarter. Deutsche Bank AG now owns 74,857 shares of the company’s stock valued at $1,913,000 after buying an additional 17,560 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Phreesia by 141.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 89,410 shares of the company’s stock valued at $2,285,000 after acquiring an additional 52,358 shares during the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.

Phreesia Stock Down 1.4%

Shares of NYSE:PHR opened at $20.26 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.12 and a current ratio of 2.12. Phreesia, Inc. has a 52-week low of $18.55 and a 52-week high of $32.76. The business’s 50 day simple moving average is $22.09 and its two-hundred day simple moving average is $25.27. The firm has a market cap of $1.21 billion, a P/E ratio of -48.24 and a beta of 0.64.

Phreesia (NYSE:PHR) last issued its earnings results on Thursday, September 4th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.08. Phreesia had a negative return on equity of 8.75% and a negative net margin of 5.35%.The company had revenue of $117.26 million for the quarter, compared to analyst estimates of $116.39 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. Phreesia’s revenue for the quarter was up 14.9% 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.

Analysts Set New Price Targets

PHR has been the subject of several research analyst reports. Mizuho began coverage on Phreesia in a research report on Wednesday, August 27th. They issued an “outperform” rating and a $36.00 price objective for the company. JMP Securities raised their target price on Phreesia from $30.00 to $34.00 and gave the stock a “market outperform” rating in a research note on Monday, September 8th. KeyCorp dropped their price target on Phreesia from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 8th. Truist Financial increased their price target on Phreesia from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Finally, Needham & Company LLC lifted their price objective on shares of Phreesia from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Fourteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.86.

Insider Buying and Selling at Phreesia

In other Phreesia news, SVP Amy Beth Vanduyn sold 1,762 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $23.28, for a total transaction of $41,019.36. Following the transaction, the senior vice president owned 112,479 shares in the company, valued at approximately $2,618,511.12. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Allison C. Hoffman sold 1,241 shares of the firm’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $22.36, for a total transaction of $27,748.76. Following the completion of the transaction, the general counsel directly owned 135,737 shares in the company, valued at $3,035,079.32. This trade represents a 0.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,174 shares of company stock worth $603,835 in the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

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.