ArrowMark Colorado Holdings LLC Trims Stake in Phreesia, Inc. (NYSE:PHR)

ArrowMark Colorado Holdings LLC lessened its holdings in shares of Phreesia, Inc. (NYSE:PHR) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 343,206 shares of the company’s stock after selling 37,809 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Phreesia were worth $7,822,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Deerfield Management Company L.P. Series C bought a new stake in shares of Phreesia during the 2nd quarter worth approximately $4,078,000. Champlain Investment Partners LLC raised its position in Phreesia by 4.1% during 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. Sei Investments Co. lifted its holdings in shares of Phreesia by 135.3% in the 2nd quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock worth $3,505,000 after buying an additional 95,058 shares during the period. Squarepoint Ops LLC grew its position in shares of Phreesia by 56.3% during the 2nd quarter. Squarepoint Ops LLC now owns 250,396 shares of the company’s stock worth $5,308,000 after buying an additional 90,215 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Phreesia during the 3rd quarter valued at about $954,000. Institutional investors own 92.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $34.00 price objective on shares of Phreesia in a research note on Thursday, September 5th. Truist Financial boosted their price objective on shares of Phreesia from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. DA Davidson restated a “buy” rating and issued a $32.00 target price on shares of Phreesia in a research note on Thursday, September 5th. JMP Securities reiterated a “market outperform” rating and issued a $30.00 price target on shares of Phreesia in a research note on Thursday, September 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $29.00 price target on shares of Phreesia in a research note on Thursday, September 5th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.42.

Phreesia Stock Up 0.3 %

PHR stock opened at $21.10 on Tuesday. Phreesia, Inc. has a 52-week low of $14.55 and a 52-week high of $29.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company’s 50-day simple moving average is $20.43 and its 200-day simple moving average is $21.84.

Phreesia (NYSE:PHR) last announced its earnings results on Wednesday, September 4th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.06. The firm had revenue of $102.12 million for the quarter, compared to analyst estimates of $101.76 million. Phreesia had a negative return on equity of 39.34% and a negative net margin of 25.73%. As a group, equities analysts predict that Phreesia, Inc. will post -1.23 earnings per share for the current year.

Insider Activity

In other news, General Counsel Allison C. Hoffman sold 2,622 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.25, for a total transaction of $60,961.50. Following the completion of the sale, the general counsel now owns 123,075 shares of the company’s stock, valued at $2,861,493.75. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Balaji Gandhi sold 3,502 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.25, for a total transaction of $81,421.50. Following the completion of the sale, the chief financial officer now owns 98,578 shares of the company’s stock, valued at $2,291,938.50. This trade represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,997 shares of company stock worth $667,943 over the last 90 days. 5.80% of the stock is currently owned by company insiders.

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.