Sumitomo Mitsui Trust Group Inc. Sells 23,928 Shares of Phreesia, Inc. (NYSE:PHR)

Sumitomo Mitsui Trust Group Inc. lowered its position in Phreesia, Inc. (NYSE:PHR) by 60.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,458 shares of the company’s stock after selling 23,928 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Phreesia were worth $352,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in Phreesia by 2,179.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock worth $33,000 after buying an additional 1,395 shares during the period. nVerses Capital LLC boosted its holdings in Phreesia by 76.5% in the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock worth $64,000 after buying an additional 1,300 shares during the period. Quadrature Capital Ltd bought a new position in Phreesia in the 1st quarter worth $202,000. Lombard Odier Asset Management USA Corp bought a new position in Phreesia in the 2nd quarter worth $202,000. Finally, Point72 DIFC Ltd bought a new position in Phreesia in the 2nd quarter worth $209,000. Institutional investors own 92.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PHR. JPMorgan Chase & Co. upped their target price on shares of Phreesia from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. JMP Securities reissued a “market outperform” rating and set a $30.00 price objective on shares of Phreesia in a report on Thursday, September 5th. Truist Financial increased their price objective on shares of Phreesia from $29.00 to $31.00 and gave the company a “buy” rating in a report on Friday, September 6th. Robert W. Baird increased their price objective on shares of Phreesia from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $23.00 price objective on shares of Phreesia in a report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Phreesia presently has an average rating of “Moderate Buy” and an average price target of $29.42.

Insider Buying and Selling

In other news, SVP David Linetsky sold 1,716 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.25, for a total transaction of $39,897.00. Following the transaction, the senior vice president now directly owns 203,318 shares of the company’s stock, valued at approximately $4,727,143.50. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Allison C. Hoffman sold 14,110 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $26.03, for a total transaction of $367,283.30. Following the transaction, the general counsel now directly owns 121,003 shares in the company, 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 have sold 44,107 shares of company stock valued at $1,035,226 in the last ninety days. 5.80% of the stock is owned by company insiders.

Phreesia Stock Down 0.1 %

Shares of NYSE PHR opened at $18.53 on Thursday. The firm’s 50-day moving average price is $20.98 and its 200-day moving average price is $21.95. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -10.29 and a beta of 0.94. Phreesia, Inc. has a 12-month low of $14.55 and a 12-month high of $29.16.

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

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.