Franklin Resources Inc. Purchases 11,986 Shares of Phreesia, Inc. (NYSE:PHR)

Franklin Resources Inc. raised its holdings in Phreesia, Inc. (NYSE:PHR) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,509,617 shares of the company’s stock after buying an additional 11,986 shares during the quarter. Franklin Resources Inc.’s holdings in Phreesia were worth $37,982,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Phreesia during the 4th quarter worth approximately $2,804,000. Nicholas Company Inc. bought a new stake in Phreesia in the fourth quarter valued at $2,452,000. State Street Corp raised its stake in Phreesia by 7.1% during the third quarter. State Street Corp now owns 1,327,586 shares of the company’s stock worth $30,256,000 after acquiring an additional 88,517 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Phreesia by 144.2% during the fourth quarter. JPMorgan Chase & Co. now owns 145,716 shares of the company’s stock valued at $3,666,000 after acquiring an additional 86,040 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Phreesia by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,823,110 shares of the company’s stock valued at $121,349,000 after purchasing an additional 61,048 shares in the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.

Phreesia Price Performance

Phreesia stock opened at $24.27 on Friday. The business’s 50-day simple moving average is $27.16 and its 200 day simple moving average is $24.22. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -16.51 and a beta of 0.82. Phreesia, Inc. has a 12-month low of $17.07 and a 12-month high of $30.53.

Insider Activity

In other news, SVP Amy Beth Vanduyn sold 1,311 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $26.61, for a total value of $34,885.71. Following the transaction, the senior vice president now owns 115,633 shares of the company’s stock, valued at $3,076,994.13. This represents a 1.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Allison C. Hoffman sold 3,496 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.32, for a total value of $88,518.72. Following the completion of the transaction, the general counsel now owns 139,134 shares in the company, valued at $3,522,872.88. This represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,269 shares of company stock valued at $4,661,469. 5.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PHR has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $29.00 price target on shares of Phreesia in a report on Thursday, March 13th. Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $24.00 to $32.00 in a research note on Wednesday, January 8th. Truist Financial increased their price target on Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird cut their price objective on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Finally, Piper Sandler restated an “overweight” rating and set a $33.00 target price (up previously from $31.00) on shares of Phreesia in a report on Wednesday, January 29th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Phreesia presently has a consensus rating of “Buy” and a consensus target price of $31.33.

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.