Phreesia (NYSE:PHR) Sees Strong Trading Volume – Here’s Why

Shares of Phreesia, Inc. (NYSE:PHR) saw an uptick in trading volume on Wednesday . 1,345,090 shares were traded during trading, an increase of 101% from the previous session’s volume of 669,301 shares.The stock last traded at $16.1950 and had previously closed at $15.43.

Analyst Ratings Changes

A number of brokerages have recently commented on PHR. JMP Securities increased their price target on shares of Phreesia from $30.00 to $34.00 and gave the stock a “market outperform” rating in a report on Monday, September 8th. Robert W. Baird lowered their price target on Phreesia from $31.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday. DA Davidson lifted their price target on Phreesia from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Piper Sandler upped their price objective on Phreesia from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Finally, BMO Capital Markets initiated coverage on Phreesia in a report on Thursday, November 13th. They set an “outperform” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.56.

Phreesia Stock Up 4.0%

The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $21.87 and a 200 day simple moving average of $25.19. The firm has a market capitalization of $961.80 million, a PE ratio of -161.11 and a beta of 0.64.

Phreesia (NYSE:PHR) last issued its earnings results on Monday, December 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.11. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.36%. The firm had revenue of $120.33 million for the quarter, compared to analysts’ expectations of $119.98 million. During the same quarter last year, the business earned ($0.25) earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts forecast that Phreesia, Inc. will post -1.1 earnings per share for the current year.

Insider Activity

In other Phreesia news, General Counsel Allison C. Hoffman sold 3,133 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $23.28, for a total transaction of $72,936.24. Following the completion of the transaction, the general counsel owned 139,037 shares of the company’s stock, valued at $3,236,781.36. This represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Amy Beth Vanduyn sold 1,762 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $23.28, for a total value of $41,019.36. Following the completion of the sale, the senior vice president owned 112,479 shares of the company’s stock, valued at approximately $2,618,511.12. This trade represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 26,174 shares of company stock valued at $603,835. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Phreesia by 2.4% during the first quarter. Vanguard Group Inc. now owns 4,936,515 shares of the company’s stock worth $126,177,000 after acquiring an additional 113,405 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Phreesia by 5.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 522,384 shares of the company’s stock worth $13,352,000 after purchasing an additional 28,936 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Phreesia by 30.6% in the 1st quarter. Deutsche Bank AG now owns 74,857 shares of the company’s stock worth $1,913,000 after purchasing an additional 17,560 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Phreesia by 141.3% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 89,410 shares of the company’s stock valued at $2,285,000 after buying an additional 52,358 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Phreesia by 228.0% during the first quarter. Invesco Ltd. now owns 132,028 shares of the company’s stock valued at $3,375,000 after buying an additional 91,779 shares during the last quarter. Hedge funds and other institutional investors own 92.10% 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.