Phreesia (NYSE:PHR) Trading Down 2.4% – What’s Next?

Phreesia, Inc. (NYSE:PHR) shares dropped 2.4% on Friday . The stock traded as low as $24.62 and last traded at $24.84. Approximately 107,533 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 418,204 shares. The stock had previously closed at $25.45.

Wall Street Analysts Forecast Growth

PHR has been the subject of several recent research reports. Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $24.00 to $32.00 in a research note on Wednesday, January 8th. JMP Securities reiterated a “market outperform” rating and issued a $30.00 target price on shares of Phreesia in a research note on Tuesday, December 10th. KeyCorp lifted their target price on shares of Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 price objective on shares of Phreesia in a research note on Thursday. Finally, Canaccord Genuity Group boosted their price objective on shares of Phreesia from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $31.33.

Phreesia Trading Down 0.3 %

The firm has a market capitalization of $1.47 billion, a P/E ratio of -17.26 and a beta of 1.03. 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 firm’s 50-day simple moving average is $27.31 and its 200-day simple moving average is $23.98.

Insider Buying and Selling at Phreesia

In other news, General Counsel Allison C. Hoffman sold 3,495 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $24.88, for a total value of $86,955.60. Following the completion of the sale, the general counsel now directly owns 116,296 shares in the company, valued at approximately $2,893,444.48. The trade was a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Balaji Gandhi sold 3,195 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $26.61, for a total transaction of $85,018.95. Following the completion of the sale, the chief financial officer now owns 148,509 shares of the company’s stock, valued at approximately $3,951,824.49. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,322 shares of company stock worth $4,631,915 over the last three months. 5.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Phreesia

A number of hedge funds have recently made changes to their positions in the business. Probity Advisors Inc. bought a new stake in shares of Phreesia in the 4th quarter worth approximately $304,000. PharVision Advisers LLC bought a new stake in Phreesia during the 4th quarter valued at $302,000. Two Sigma Advisers LP bought a new stake in Phreesia during the 4th quarter valued at $302,000. Silvercrest Asset Management Group LLC raised its holdings in Phreesia by 31.0% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 394,352 shares of the company’s stock valued at $9,922,000 after buying an additional 93,349 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Phreesia by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 15,585 shares of the company’s stock valued at $392,000 after buying an additional 5,127 shares during the last quarter. 92.10% of the stock is currently owned by institutional investors.

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.