Phreesia, Inc. (NYSE:PHR) Short Interest Down 17.6% in February

Phreesia, Inc. (NYSE:PHR) was the recipient of a significant drop in short interest in February. As of February 28th, there was short interest totalling 2,060,000 shares, a drop 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 stock are short sold.

Analyst Ratings Changes

PHR has been the subject of several recent analyst reports. JMP Securities restated a “market outperform” rating and issued a $30.00 target price on shares of Phreesia in a research note on Tuesday, December 10th. Citigroup raised their price target on shares of Phreesia from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $33.00 price target (up previously from $31.00) on shares of Phreesia in a report on Wednesday, January 29th. Truist Financial raised their price target on shares of Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada raised shares of Phreesia from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $24.00 to $32.00 in a report on Wednesday, January 8th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, Phreesia currently has a consensus rating of “Buy” and an average target price of $31.33.

Insider Activity

In other Phreesia news, SVP Amy Beth Vanduyn sold 1,311 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $26.61, for a total value of $34,885.71. Following the completion of the sale, the senior vice president now directly owns 115,633 shares in the company, valued at $3,076,994.13. This trade represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Evan Roberts sold 2,873 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 of the company’s stock, valued at approximately $20,755,613.73. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,403 shares of company stock worth $4,610,249. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHR. Johnson Financial Group Inc. increased its holdings in Phreesia by 381.3% in the fourth quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock valued at $28,000 after buying an additional 896 shares in the last quarter. R Squared Ltd purchased a new position in Phreesia in the fourth quarter valued at $30,000. BankPlus Trust Department purchased a new position in Phreesia in the fourth quarter valued at $34,000. Quarry LP increased its holdings in Phreesia by 210.9% in the fourth quarter. Quarry LP now owns 2,835 shares of the company’s stock valued at $71,000 after buying an additional 1,923 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Phreesia in the fourth quarter valued at about $76,000. Hedge funds and other institutional investors own 92.10% of the company’s stock.

Phreesia Stock Performance

Shares of Phreesia stock traded up $1.81 during trading on Wednesday, hitting $29.08. 749,571 shares of the company’s stock were exchanged, compared to its average volume of 415,745. Phreesia has a 52-week low of $17.07 and a 52-week high of $30.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74. The business has a 50-day simple moving average of $27.33 and a 200-day simple moving average of $24.04. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -19.78 and a beta of 1.03.

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.