Granahan Investment Management LLC Sells 1,412,006 Shares of Phreesia, Inc. $PHR

Granahan Investment Management LLC trimmed its holdings in Phreesia, Inc. (NYSE:PHR – Free Report) by 58.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 987,607 shares of the company’s stock after selling 1,412,006 shares during the period. Granahan Investment Management LLC’s holdings in Phreesia were worth $8,276,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pale Fire Capital SE purchased a new position in Phreesia during the 1st quarter valued at $72,481,000. Vanguard Group Inc. increased its stake in Phreesia by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 5,744,326 shares of the company’s stock worth $97,194,000 after purchasing an additional 39,540 shares during the period. Franklin Resources Inc. increased its stake in Phreesia by 28.8% in the fourth quarter. Franklin Resources Inc. now owns 2,000,082 shares of the company’s stock worth $33,841,000 after purchasing an additional 446,890 shares during the period. Nuveen LLC lifted its position in shares of Phreesia by 12.7% during the fourth quarter. Nuveen LLC now owns 1,875,725 shares of the company’s stock worth $31,737,000 after purchasing an additional 211,262 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Phreesia by 47.6% during the fourth quarter. Millennium Management LLC now owns 1,571,055 shares of the company’s stock worth $26,582,000 after purchasing an additional 506,923 shares during the last quarter. 92.10% of the stock is owned by institutional investors.

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Phreesia Trading Up 4.3%

Shares of NYSE PHR opened at $10.22 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market capitalization of $631.53 million, a P/E ratio of 68.11 and a beta of 0.87. Phreesia, Inc. has a 1-year low of $7.77 and a 1-year high of $32.76. The business has a fifty day moving average price of $9.86 and a 200 day moving average price of $11.14.

Phreesia (NYSE:PHR – Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Phreesia had a return on equity of 5.13% and a net margin of 1.85%.The company had revenue of $130.94 million for the quarter, compared to the consensus estimate of $130.08 million. During the same quarter last year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts expect that Phreesia, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Canaccord Genuity Group cut their price target on shares of Phreesia from $22.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. Citizens Jmp reiterated a “market perform” rating on shares of Phreesia in a report on Wednesday, April 1st. Truist Financial boosted their price objective on shares of Phreesia from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded shares of Phreesia from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, BMO Capital Markets reduced their target price on shares of Phreesia from $32.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.65.

View Our Latest Stock Analysis on PHR

Phreesia Profile

(Free Report)

Phreesia, Inc (NYSE: PHR) is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company’s cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.

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