State Street Corp Buys 88,517 Shares of Phreesia, Inc. (NYSE:PHR)

State Street Corp increased its stake in Phreesia, Inc. (NYSE:PHR) by 7.1% in the 3rd quarter, Holdings Channel reports. The fund owned 1,327,586 shares of the company’s stock after buying an additional 88,517 shares during the quarter. State Street Corp’s holdings in Phreesia were worth $30,256,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PHR. International Assets Investment Management LLC lifted its stake in Phreesia by 2,179.7% during the third quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock worth $33,000 after purchasing an additional 1,395 shares during the last quarter. nVerses Capital LLC increased its position in shares of Phreesia by 76.5% during the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock valued at $64,000 after purchasing an additional 1,300 shares during the last quarter. Lombard Odier Asset Management USA Corp purchased a new position in shares of Phreesia during the 2nd quarter valued at about $202,000. Point72 DIFC Ltd bought a new stake in Phreesia in the 2nd quarter worth approximately $209,000. Finally, Hsbc Holdings PLC purchased a new stake in Phreesia in the second quarter worth approximately $301,000. Institutional investors own 92.10% of the company’s stock.

Insider Activity

In other Phreesia news, SVP Amy Beth Vanduyn sold 25,447 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $20.93, for a total value of $532,605.71. Following the completion of the transaction, the senior vice president now owns 93,470 shares in the company, valued at approximately $1,956,327.10. This represents a 21.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Allison C. Hoffman sold 1,212 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total value of $25,488.36. Following the transaction, the general counsel now directly owns 119,791 shares of the company’s stock, valued at $2,519,204.73. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,342 shares of company stock valued at $2,041,225. Corporate insiders own 5.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PHR. DA Davidson reiterated a “buy” rating and set a $32.00 price target on shares of Phreesia in a research report on Thursday, September 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 target price on shares of Phreesia in a report on Tuesday, December 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 target price on shares of Phreesia in a research report on Friday, September 27th. Truist Financial upped their price target on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $34.00 price objective on shares of Phreesia in a report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.33.

Phreesia Trading Up 5.5 %

NYSE PHR opened at $25.16 on Friday. The stock has a market cap of $1.46 billion, a P/E ratio of -17.12 and a beta of 0.98. Phreesia, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $29.16. The stock has a 50 day simple moving average of $20.81 and a two-hundred day simple moving average of $21.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.77 and a current ratio of 1.74.

Phreesia (NYSE:PHR) last released its quarterly 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 business had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.58) earnings per share. On average, analysts forecast that Phreesia, Inc. will post -1.16 earnings per share for the current year.

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.