Phreesia, Inc. (NYSE:PHR) Shares Bought by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI raised its stake in Phreesia, Inc. (NYSE:PHR) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,770 shares of the company’s stock after acquiring an additional 615 shares during the period. Arcadia Investment Management Corp MI’s holdings in Phreesia were worth $2,371,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of Phreesia by 0.9% in the 4th quarter. Invesco Ltd. now owns 40,249 shares of the company’s stock valued at $1,013,000 after purchasing an additional 357 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Phreesia by 12.1% during the fourth quarter. NewEdge Advisors LLC now owns 4,256 shares of the company’s stock worth $107,000 after purchasing an additional 459 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Phreesia by 8.0% in the 1st quarter. QRG Capital Management Inc. now owns 11,118 shares of the company’s stock valued at $284,000 after purchasing an additional 827 shares during the period. Johnson Financial Group Inc. raised its stake in Phreesia by 381.3% during the 4th quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock worth $28,000 after buying an additional 896 shares during the period. Finally, Swiss National Bank raised its position in Phreesia by 1.3% in the 4th quarter. Swiss National Bank now owns 107,900 shares of the company’s stock valued at $2,715,000 after buying an additional 1,400 shares during the last quarter. 92.10% of the stock is owned by institutional investors and hedge funds.

Phreesia Trading Up 0.2%

NYSE:PHR opened at $28.44 on Wednesday. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -38.43 and a beta of 0.72. The stock has a fifty day simple moving average of $26.17 and a 200 day simple moving average of $26.31. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.02. Phreesia, Inc. has a 1-year low of $17.07 and a 1-year high of $30.53.

Phreesia (NYSE:PHR) last posted its quarterly earnings data on Wednesday, May 28th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.06. Phreesia had a negative return on equity of 16.23% and a negative net margin of 9.83%. The business had revenue of $115.94 million during the quarter, compared to analysts’ expectations of $115.00 million. During the same quarter in the previous year, the firm earned ($0.05) EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Sell-side analysts forecast that Phreesia, Inc. will post -1.1 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity at Phreesia

In other Phreesia news, COO Evan Roberts sold 1,845 shares of the business’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $23.81, for a total value of $43,929.45. Following the completion of the sale, the chief operating officer owned 774,807 shares of the company’s stock, valued at $18,448,154.67. The trade was a 0.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lisa Egbuonu-Davis sold 2,802 shares of the company’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $27.67, for a total value of $77,531.34. Following the sale, the director owned 22,037 shares of the company’s stock, valued at approximately $609,763.79. This represents a 11.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,781 shares of company stock worth $1,504,911. 5.50% of the stock is owned by company insiders.

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.