Phreesia, Inc. (NYSE:PHR) Short Interest Down 17.6% in February

Phreesia, Inc. (NYSE:PHR) was the recipient of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 2,060,000 shares, a drop of 17.6% from the February 13th total of 2,500,000 shares. Approximately 3.8% of the shares of the stock are short sold. Based on an average trading volume of 412,300 shares, the short-interest ratio is currently 5.0 days.

Phreesia Trading Down 4.1 %

NYSE PHR traded down $1.19 during trading hours on Thursday, hitting $27.81. 270,288 shares of the company’s stock were exchanged, compared to its average volume of 415,118. The firm has a market capitalization of $1.63 billion, a P/E ratio of -18.90 and a beta of 1.03. Phreesia has a 12-month low of $17.07 and a 12-month high of $30.53. 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 is $27.33 and its 200-day moving average is $24.04.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PHR shares. Citigroup upped their price target on Phreesia from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Royal Bank of Canada raised shares of Phreesia from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $24.00 to $32.00 in a research note on Wednesday, January 8th. Piper Sandler reaffirmed an “overweight” rating and set a $33.00 price objective (up from $31.00) on shares of Phreesia in a research report on Wednesday, January 29th. KeyCorp raised their target price on Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Finally, Canaccord Genuity Group upped their price target on Phreesia from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, March 13th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $31.33.

Insider Activity

In other Phreesia news, CFO Balaji Gandhi sold 5,771 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $30.04, for a total value of $173,360.84. Following the transaction, the chief financial officer now directly owns 105,514 shares of the company’s stock, valued at $3,169,640.56. This trade represents a 5.19 % 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 company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.32, for a total transaction of $88,518.72. Following the completion of the sale, the general counsel now directly owns 139,134 shares of the company’s stock, valued at $3,522,872.88. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 162,403 shares of company stock worth $4,610,249 in the last ninety days. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Phreesia

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Phreesia by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,823,110 shares of the company’s stock valued at $121,349,000 after buying an additional 61,048 shares in the last quarter. Greenhouse Funds LLLP increased its holdings in Phreesia by 27.9% in the 4th quarter. Greenhouse Funds LLLP now owns 2,873,892 shares of the company’s stock valued at $72,307,000 after purchasing an additional 626,579 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in Phreesia by 4.1% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock valued at $57,062,000 after purchasing an additional 97,847 shares in the last quarter. Franklin Resources Inc. increased its holdings in Phreesia by 0.8% in the 4th quarter. Franklin Resources Inc. now owns 1,509,617 shares of the company’s stock valued at $37,982,000 after purchasing an additional 11,986 shares in the last quarter. Finally, State Street Corp increased its holdings in Phreesia by 7.1% in the 3rd quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after purchasing an additional 88,517 shares in the last quarter. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

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.