Short Interest in Phreesia, Inc. (NYSE:PHR) Drops By 17.6%

Phreesia, Inc. (NYSE:PHR) was the target of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 2,060,000 shares, a decline of 17.6% from the February 13th total of 2,500,000 shares. Based on an average daily volume of 412,300 shares, the short-interest ratio is currently 5.0 days. Approximately 3.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PHR. Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $24.00 to $32.00 in a report on Wednesday, January 8th. Robert W. Baird cut their price objective on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. JMP Securities restated a “market outperform” rating and issued a $30.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. Truist Financial increased their price target on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Piper Sandler reiterated an “overweight” rating and set a $33.00 price target (up previously from $31.00) on shares of Phreesia in a report on Wednesday, January 29th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $31.33.

Insiders Place Their Bets

In related news, CFO Balaji Gandhi sold 3,195 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $26.61, for a total transaction of $85,018.95. Following the transaction, the chief financial officer now owns 148,509 shares in the company, valued at $3,951,824.49. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Evan Roberts sold 2,873 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $26.61, for a total transaction of $76,450.53. Following the completion of the sale, the chief operating officer now owns 779,993 shares in the company, valued at approximately $20,755,613.73. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,426 shares of company stock valued at $4,609,295 over the last three months. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Phreesia

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Phreesia by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,823,110 shares of the company’s stock worth $121,349,000 after acquiring an additional 61,048 shares during the last quarter. Greenhouse Funds LLLP lifted its holdings in shares of Phreesia by 27.9% in the 4th quarter. Greenhouse Funds LLLP now owns 2,873,892 shares of the company’s stock worth $72,307,000 after acquiring an additional 626,579 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Phreesia by 4.1% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock worth $57,062,000 after acquiring an additional 97,847 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Phreesia by 0.8% during the 4th quarter. Franklin Resources Inc. now owns 1,509,617 shares of the company’s stock valued at $37,982,000 after buying an additional 11,986 shares in the last quarter. Finally, State Street Corp lifted its holdings in Phreesia by 7.1% during the 3rd quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after buying an additional 88,517 shares in the last quarter. 92.10% of the stock is owned by hedge funds and other institutional investors.

Phreesia Price Performance

PHR traded up $0.31 during trading on Tuesday, hitting $27.24. 680,879 shares of the company traded hands, compared to its average volume of 416,613. The company has a market cap of $1.58 billion, a PE ratio of -18.53 and a beta of 1.03. The stock’s 50-day simple moving average is $27.32 and its two-hundred day simple moving average is $23.99. Phreesia has a 1 year low of $17.07 and a 1 year high of $30.53. 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 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.