T. Rowe Price Investment Management Inc. Sells 734,249 Shares of Phreesia, Inc. (NYSE:PHR)

T. Rowe Price Investment Management Inc. lowered its stake in shares of Phreesia, Inc. (NYSE:PHR) by 45.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 893,716 shares of the company’s stock after selling 734,249 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in Phreesia were worth $22,486,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PHR. R Squared Ltd bought a new position in Phreesia during the fourth quarter valued at about $30,000. BankPlus Trust Department bought a new stake in shares of Phreesia during the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC acquired a new position in shares of Phreesia in the fourth quarter valued at $76,000. Smartleaf Asset Management LLC lifted its position in Phreesia by 154.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,442 shares of the company’s stock worth $89,000 after purchasing an additional 2,090 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in 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 buying an additional 459 shares in the last quarter. Institutional investors own 92.10% of the company’s stock.

Wall Street Analysts Forecast Growth

PHR has been the subject of a number of recent research reports. Canaccord Genuity Group increased 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, March 13th. Needham & Company LLC reissued a “buy” rating and issued a $29.00 price target on shares of Phreesia in a research report on Thursday, March 13th. Citigroup lifted their price objective on Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, January 10th. KeyCorp dropped their target price on Phreesia from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Royal Bank of Canada raised Phreesia from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $24.00 to $32.00 in a research note on Wednesday, January 8th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $31.33.

Phreesia Stock Performance

Phreesia stock opened at $24.73 on Friday. The stock has a 50-day simple moving average of $25.51 and a 200 day simple moving average of $24.39. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -16.82 and a beta of 0.82. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. Phreesia, Inc. has a 12-month low of $17.07 and a 12-month high of $30.53.

Insiders Place Their Bets

In other Phreesia news, CFO Balaji Gandhi sold 28,759 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $30.00, for a total value of $862,770.00. Following the transaction, the chief financial officer now directly owns 116,174 shares in the company, valued at approximately $3,485,220. This trade represents a 19.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Linetsky sold 4,499 shares of the business’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $23.73, for a total value of $106,761.27. Following the sale, the senior vice president now owns 217,239 shares of the company’s stock, valued at approximately $5,155,081.47. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,930 shares of company stock valued at $4,067,102. Insiders own 5.80% of the company’s stock.

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.