Lazard Asset Management LLC Lowers Stake in Phreesia, Inc. (NYSE:PHR)

Lazard Asset Management LLC lessened its stake in Phreesia, Inc. (NYSE:PHR) by 23.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 372,694 shares of the company’s stock after selling 116,018 shares during the period. Lazard Asset Management LLC owned about 0.66% of Phreesia worth $8,918,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in Phreesia by 1,987.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,482 shares of the company’s stock worth $34,000 after buying an additional 1,411 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Phreesia by 5,462.3% in the fourth quarter. Russell Investments Group Ltd. now owns 3,838 shares of the company’s stock valued at $89,000 after acquiring an additional 3,769 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Phreesia in the first quarter valued at $169,000. Quadrature Capital Ltd purchased a new position in Phreesia in the first quarter valued at $202,000. Finally, ProShare Advisors LLC grew its stake in Phreesia by 8.6% during the 1st quarter. ProShare Advisors LLC now owns 9,522 shares of the company’s stock worth $228,000 after purchasing an additional 751 shares in the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.

Insider Transactions at Phreesia

In related news, SVP David Linetsky sold 1,820 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $23.74, for a total value of $43,206.80. Following the transaction, the senior vice president now owns 202,218 shares in the company, valued at approximately $4,800,655.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Evan Roberts sold 1,669 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $23.74, for a total value of $39,622.06. Following the completion of the sale, the chief operating officer now owns 753,234 shares in the company, valued at approximately $17,881,775.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David Linetsky sold 1,820 shares of Phreesia stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $23.74, for a total transaction of $43,206.80. Following the completion of the sale, the senior vice president now directly owns 202,218 shares in the company, valued at approximately $4,800,655.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,506 shares of company stock worth $375,299. Company insiders own 5.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PHR shares. KeyCorp decreased their price objective on Phreesia from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Needham & Company LLC reiterated a “buy” rating and set a $29.00 price target on shares of Phreesia in a report on Friday, May 31st. Truist Financial reissued a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a research report on Monday, July 1st. Canaccord Genuity Group decreased their price objective on shares of Phreesia from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Finally, Stephens reissued an “overweight” rating and issued a $28.00 target price on shares of Phreesia in a report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Phreesia has an average rating of “Moderate Buy” and a consensus price target of $30.54.

Phreesia Stock Up 1.4 %

PHR traded up $0.35 during trading on Friday, hitting $24.77. 394,560 shares of the stock were exchanged, compared to its average volume of 440,717. Phreesia, Inc. has a 1-year low of $12.05 and a 1-year high of $32.11. The stock has a fifty day moving average price of $21.30 and a two-hundred day moving average price of $23.12. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.03.

Phreesia (NYSE:PHR) last announced its earnings results on Thursday, May 30th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.16. Phreesia had a negative net margin of 31.87% and a negative return on equity of 46.89%. The business had revenue of $101.20 million for the quarter, compared to analysts’ expectations of $100.94 million. During the same period in the previous year, the company posted ($0.70) EPS. The company’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, sell-side analysts predict that Phreesia, Inc. will post -1.16 earnings per share for the current 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.