Silvercrest Asset Management Group LLC Acquires 93,349 Shares of Phreesia, Inc. (NYSE:PHR)

Silvercrest Asset Management Group LLC increased its holdings in shares of Phreesia, Inc. (NYSE:PHR) by 31.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 394,352 shares of the company’s stock after purchasing an additional 93,349 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Phreesia were worth $9,922,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. ProShare Advisors LLC lifted its position in shares of Phreesia by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 15,585 shares of the company’s stock worth $392,000 after buying an additional 5,127 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Phreesia by 77.1% in the 4th quarter. Nuveen Asset Management LLC now owns 235,827 shares of the company’s stock worth $5,933,000 after purchasing an additional 102,662 shares in the last quarter. Millennium Management LLC increased its holdings in Phreesia by 83.2% in the 4th quarter. Millennium Management LLC now owns 653,634 shares of the company’s stock worth $16,445,000 after purchasing an additional 296,863 shares in the last quarter. Graham Capital Management L.P. increased its holdings in Phreesia by 50.1% in the 4th quarter. Graham Capital Management L.P. now owns 30,026 shares of the company’s stock worth $755,000 after purchasing an additional 10,021 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Phreesia by 95.9% in the 4th quarter. Deutsche Bank AG now owns 57,297 shares of the company’s stock worth $1,442,000 after purchasing an additional 28,047 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors.

Insider Activity

In related news, General Counsel Allison C. Hoffman sold 3,496 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $29.72, for a total transaction of $103,901.12. Following the completion of the sale, the general counsel now owns 142,630 shares of the company’s stock, valued at $4,238,963.60. This trade represents a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Balaji Gandhi sold 1,827 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $27.46, for a total value of $50,169.42. Following the sale, the chief financial officer now directly owns 103,591 shares of the company’s stock, valued at $2,844,608.86. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,260 shares of company stock valued at $1,406,251. Company insiders own 5.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PHR shares. Piper Sandler reaffirmed an “overweight” rating and issued a $33.00 target price (up previously from $31.00) on shares of Phreesia in a report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 target price on shares of Phreesia in a report on Thursday, March 13th. Canaccord Genuity Group upped their target price on Phreesia from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, March 13th. KeyCorp lowered 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, DA Davidson lowered their target price on Phreesia from $36.00 to $34.00 and set a “buy” rating for the company in a report on Monday, April 14th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Phreesia currently has a consensus rating of “Buy” and an average target price of $31.33.

Phreesia Trading Down 1.4%

Shares of PHR stock opened at $25.34 on Friday. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -17.24 and a beta of 0.74. The stock has a 50-day moving average of $25.29 and a 200-day moving average of $24.99. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. Phreesia, Inc. has a 1-year low of $17.07 and a 1-year high of $30.53.

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.