Granahan Investment Management LLC Buys 1,018,987 Shares of Phreesia, Inc. $PHR

Granahan Investment Management LLC raised its stake in Phreesia, Inc. (NYSE:PHR) by 73.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,399,613 shares of the company’s stock after buying an additional 1,018,987 shares during the period. Phreesia comprises about 1.7% of Granahan Investment Management LLC’s portfolio, making the stock its 17th biggest position. Granahan Investment Management LLC’s holdings in Phreesia were worth $40,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PHR. Van ECK Associates Corp boosted its position in shares of Phreesia by 78.7% during the 4th quarter. Van ECK Associates Corp now owns 2,502 shares of the company’s stock valued at $42,000 after purchasing an additional 1,102 shares in the last quarter. KBC Group NV grew its stake in Phreesia by 83.4% during the fourth quarter. KBC Group NV now owns 3,449 shares of the company’s stock worth $58,000 after purchasing an additional 1,568 shares during the period. Garner Asset Management Corp acquired a new stake in Phreesia during the fourth quarter worth approximately $81,000. Anchor Investment Management LLC acquired a new stake in Phreesia during the third quarter worth approximately $118,000. Finally, Tower Research Capital LLC TRC grew its stake in Phreesia by 332.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,610 shares of the company’s stock worth $160,000 after purchasing an additional 4,313 shares during the period. Institutional investors own 92.10% of the company’s stock.

Insider Transactions at Phreesia

In other Phreesia news, CFO Balaji Gandhi sold 3,829 shares of the stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $11.26, for a total value of $43,114.54. Following the transaction, the chief financial officer owned 146,740 shares in the company, valued at approximately $1,652,292.40. This represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Linetsky sold 8,332 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $8.07, for a total value of $67,239.24. Following the completion of the transaction, the insider owned 224,056 shares in the company, valued at approximately $1,808,131.92. The trade was a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 50,386 shares of company stock worth $460,799 in the last three months. Insiders own 5.20% of the company’s stock.

Phreesia Stock Up 3.1%

Shares of NYSE:PHR opened at $9.43 on Wednesday. The business’s 50 day simple moving average is $9.24 and its two-hundred day simple moving average is $12.55. The firm has a market cap of $582.95 million, a P/E ratio of 62.87 and a beta of 0.91. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.76 and a current ratio of 1.76. Phreesia, Inc. has a 52-week low of $7.77 and a 52-week high of $32.76.

Phreesia (NYSE:PHR) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $130.94 million for the quarter, compared to analyst estimates of $130.08 million. Phreesia had a return on equity of 5.13% and a net margin of 1.85%.The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) earnings per share. As a group, research analysts forecast that Phreesia, Inc. will post 0.35 EPS for the current fiscal year.

Key Stories Impacting Phreesia

Here are the key news stories impacting Phreesia this week:

• Neutral Sentiment: Multiple law firms, including Rosen, Faruqi & Faruqi, Pomerantz, The Gross Law Firm, Bragar Eagel & Squire, Levi & Korsinsky, and others, issued reminders about the pending Phreesia securities class action and the July 13 lead-plaintiff deadline. These notices may keep pressure on the shares by highlighting legal risk and uncertainty. Article: Phreesia Deadline Alert
• Neutral Sentiment: One recent commentary piece said Phreesia was downgraded because its growth outlook is worsening, reinforcing concerns that the company’s longer-term expansion may slow. Article: Phreesia rating downgrade as growth outlook worsens

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup reaffirmed a “market perform” rating on shares of Phreesia in a research note on Friday, May 29th. Needham & Company LLC decreased their target price on Phreesia from $35.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. Barclays reaffirmed an “equal weight” rating and set a $10.00 target price (down from $24.00) on shares of Phreesia in a research note on Thursday, May 14th. KeyCorp decreased their target price on Phreesia from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, April 13th. Finally, Canaccord Genuity Group decreased their target price on Phreesia from $22.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.65.

Phreesia Company Profile

Phreesia, Inc (NYSE: PHR) is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company’s cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.