Phreesia (NYSE:PHR) Stock Price Down 12% – Should You Sell?

Phreesia, Inc. (NYSE:PHR)’s stock price fell 12% during trading on Friday . The stock traded as low as $18.26 and last traded at $18.48. 81,020 shares were traded during trading, a decline of 82% from the average session volume of 445,655 shares. The stock had previously closed at $21.00.

Wall Street Analyst Weigh In

PHR has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on shares of Phreesia from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on shares of Phreesia from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Canaccord Genuity Group restated a “buy” rating and set a $34.00 target price on shares of Phreesia in a research note on Thursday, September 5th. DA Davidson reaffirmed a “buy” rating and set a $32.00 target price on shares of Phreesia in a research report on Thursday, September 5th. Finally, Truist Financial raised their price objective on Phreesia from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.42.

Phreesia Stock Performance

The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $21.28 and a 200 day moving average of $22.01. The stock has a market capitalization of $1.04 billion, a P/E ratio of -10.02 and a beta of 0.94.

Phreesia (NYSE:PHR) last issued its earnings results on Wednesday, September 4th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.06. Phreesia had a negative return on equity of 39.34% and a negative net margin of 25.73%. The business had revenue of $102.12 million during the quarter, compared to analysts’ expectations of $101.76 million. Research analysts anticipate that Phreesia, Inc. will post -1.23 EPS for the current fiscal year.

Insider Transactions at Phreesia

In related news, insider Yvonne Hui sold 2,791 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $20.92, for a total value of $58,387.72. Following the completion of the sale, the insider now owns 27,228 shares in the company, valued at approximately $569,609.76. This represents a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Allison C. Hoffman sold 14,110 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $26.03, for a total value of $367,283.30. Following the completion of the sale, the general counsel now directly owns 121,003 shares of the company’s stock, valued at approximately $3,149,708.09. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,107 shares of company stock worth $1,035,226 over the last 90 days. 5.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Phreesia

A number of hedge funds and other institutional investors have recently made changes to their positions in PHR. Trust Point Inc. increased its stake in Phreesia by 3.5% in the 3rd quarter. Trust Point Inc. now owns 17,887 shares of the company’s stock valued at $408,000 after buying an additional 607 shares during the last quarter. Ensign Peak Advisors Inc increased its position in shares of Phreesia by 3.2% in the second quarter. Ensign Peak Advisors Inc now owns 22,491 shares of the company’s stock valued at $477,000 after acquiring an additional 700 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Phreesia by 8.6% in the first quarter. ProShare Advisors LLC now owns 9,522 shares of the company’s stock valued at $228,000 after acquiring an additional 751 shares during the last quarter. Rhumbline Advisers raised its holdings in Phreesia by 1.0% during the second quarter. Rhumbline Advisers now owns 82,136 shares of the company’s stock worth $1,741,000 after acquiring an additional 853 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Phreesia by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company’s stock valued at $637,000 after purchasing an additional 905 shares during the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

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.