Phreesia (NYSE:PHR) Shares Down 5.3% Following Insider Selling

Phreesia, Inc. (NYSE:PHR)’s share price fell 5.3% during trading on Thursday following insider selling activity. The stock traded as low as $26.67 and last traded at $26.70. 664,138 shares traded hands during mid-day trading, an increase of 50% from the average session volume of 441,582 shares. The stock had previously closed at $28.19.

Specifically, Director Michael Weintraub sold 2,569 shares of the company’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $27.86, for a total transaction of $71,572.34. Following the completion of the transaction, the director now directly owns 143,039 shares in the company, valued at $3,985,066.54. This represents a 1.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Weintraub sold 7,431 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $27.51, for a total value of $204,426.81. Following the transaction, the director now owns 143,039 shares of the company’s stock, valued at approximately $3,935,002.89. The trade was a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

PHR has been the subject of several recent research reports. Truist Financial upped their price target on shares of Phreesia from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Citigroup restated a “buy” rating on shares of Phreesia in a research report on Wednesday, May 28th. Canaccord Genuity Group decreased their target price 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 target price on shares of Phreesia in a research report on Thursday, March 13th. Finally, Wall Street Zen upgraded shares of Phreesia from a “hold” rating to a “buy” rating in a research report on Sunday, June 1st. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Phreesia presently has an average rating of “Buy” and an average price target of $31.64.

Phreesia Trading Down 2.4%

The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -17.68 and a beta of 0.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74. The business’s 50 day moving average price is $25.01 and its two-hundred day moving average price is $25.73.

Phreesia (NYSE:PHR) last issued its quarterly earnings results on Wednesday, May 28th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The company had revenue of $115.94 million during the quarter, compared to the consensus estimate of $115.00 million. During the same period in the prior year, the company earned ($0.05) EPS. Phreesia’s revenue was up 14.5% on a year-over-year basis. Equities analysts forecast that Phreesia, Inc. will post -1.1 earnings per share for the current fiscal year.

Institutional Trading of Phreesia

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in shares of Phreesia by 0.9% during the 4th quarter. Invesco Ltd. now owns 40,249 shares of the company’s stock valued at $1,013,000 after acquiring an additional 357 shares during the last quarter. 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 valued at $107,000 after purchasing an additional 459 shares during the last quarter. Arcadia Investment Management Corp MI lifted its holdings in shares of Phreesia by 0.7% during the first quarter. Arcadia Investment Management Corp MI now owns 92,770 shares of the company’s stock valued at $2,371,000 after purchasing an additional 615 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Phreesia by 8.0% during the first 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 last quarter. Finally, Johnson Financial Group Inc. lifted its holdings in shares of Phreesia by 381.3% during the fourth quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock valued at $28,000 after purchasing an additional 896 shares during the last quarter. 92.10% of the stock is owned by institutional investors and hedge funds.

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.