Bank of New York Mellon Corp Boosts Stock Position in Phreesia, Inc. (NYSE:PHR)

Bank of New York Mellon Corp grew its holdings in shares of Phreesia, Inc. (NYSE:PHR) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 195,267 shares of the company’s stock after buying an additional 14,502 shares during the quarter. Bank of New York Mellon Corp owned 0.34% of Phreesia worth $4,913,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PHR. BankPlus Trust Department acquired a new stake in shares of Phreesia in the 4th quarter valued at about $34,000. Handelsbanken Fonder AB increased its holdings in Phreesia by 23.5% in the fourth quarter. Handelsbanken Fonder AB now owns 12,600 shares of the company’s stock valued at $317,000 after buying an additional 2,400 shares during the last quarter. Peregrine Capital Management LLC increased its holdings in Phreesia by 0.8% in the fourth quarter. Peregrine Capital Management LLC now owns 319,327 shares of the company’s stock valued at $8,034,000 after buying an additional 2,531 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in Phreesia during the fourth quarter valued at approximately $76,000. Finally, Rhumbline Advisers lifted its holdings in Phreesia by 7.4% during the 4th quarter. Rhumbline Advisers now owns 83,631 shares of the company’s stock worth $2,104,000 after buying an additional 5,756 shares during the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PHR. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $24.00 to $32.00 in a report on Wednesday, January 8th. JMP Securities reiterated a “market outperform” rating and set a $30.00 target price on shares of Phreesia in a research note on Tuesday, December 10th. Citigroup increased their target price on shares of Phreesia from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 price objective on shares of Phreesia in a research report on Thursday, March 13th. Finally, KeyCorp raised their target price on shares of Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, Phreesia has a consensus rating of “Buy” and an average price target of $31.33.

Phreesia Stock Performance

Shares of NYSE PHR opened at $27.08 on Tuesday. Phreesia, Inc. has a 12-month low of $17.07 and a 12-month high of $30.53. The company has a market cap of $1.57 billion, a PE ratio of -18.42 and a beta of 1.03. The stock has a 50 day simple moving average of $27.32 and a 200-day simple moving average of $23.99. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04.

Insider Activity at Phreesia

In other news, General Counsel Allison C. Hoffman sold 3,495 shares of Phreesia stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $24.88, for a total transaction of $86,955.60. Following the transaction, the general counsel now directly owns 116,296 shares in the company, valued at approximately $2,893,444.48. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Evan Roberts sold 3,519 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $30.06, for a total value of $105,781.14. Following the completion of the sale, the chief operating officer now owns 741,197 shares of the company’s stock, valued at approximately $22,280,381.82. This trade represents a 0.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,426 shares of company stock worth $4,609,295 in the last 90 days. Corporate insiders own 5.80% of the company’s stock.

Phreesia 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.