Principal Financial Group Inc. Buys New Stake in Phreesia, Inc. (NYSE:PHR)

Principal Financial Group Inc. acquired a new position in Phreesia, Inc. (NYSE:PHR) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 63,492 shares of the company’s stock, valued at approximately $1,623,000. Principal Financial Group Inc. owned 0.11% of Phreesia as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Invesco Ltd. grew its stake in Phreesia by 0.9% during the 4th quarter. Invesco Ltd. now owns 40,249 shares of the company’s stock valued at $1,013,000 after acquiring an additional 357 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Phreesia by 12.1% in the 4th quarter. NewEdge Advisors LLC now owns 4,256 shares of the company’s stock valued at $107,000 after buying an additional 459 shares during the period. QRG Capital Management Inc. grew its stake in shares of Phreesia by 8.0% in the 1st quarter. QRG Capital Management Inc. now owns 11,118 shares of the company’s stock valued at $284,000 after buying an additional 827 shares during the period. Johnson Financial Group Inc. grew its stake in shares of Phreesia by 381.3% in the 4th quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock valued at $28,000 after buying an additional 896 shares during the period. Finally, Swiss National Bank grew its stake in shares of Phreesia by 1.3% in the 4th quarter. Swiss National Bank now owns 107,900 shares of the company’s stock valued at $2,715,000 after buying an additional 1,400 shares during the period. Institutional investors and hedge funds own 92.10% of the company’s stock.

Insider Buying and Selling at Phreesia

In other news, Director Lisa Egbuonu-Davis sold 2,802 shares of the business’s stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $27.67, for a total value of $77,531.34. Following the completion of the transaction, the director owned 22,037 shares of the company’s stock, valued at $609,763.79. The trade was a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael Weintraub sold 7,431 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $27.51, for a total transaction of $204,426.81. Following the completion of the transaction, the director directly owned 143,039 shares of the company’s stock, valued at approximately $3,935,002.89. This represents a 4.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,240 shares of company stock worth $1,329,816. 5.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PHR shares. Truist Financial increased their price objective on shares of Phreesia from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Canaccord Genuity Group lowered their price objective on shares of Phreesia from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Citigroup reaffirmed a “buy” rating on shares of Phreesia in a research report on Wednesday, May 28th. Wall Street Zen raised shares of Phreesia from a “hold” rating to a “buy” rating in a research report on Sunday, June 1st. Finally, KeyCorp increased their price objective on shares of Phreesia from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $32.27.

Phreesia Stock Down 1.9%

Shares of NYSE:PHR opened at $25.44 on Friday. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -34.38 and a beta of 0.72. The firm’s 50-day simple moving average is $26.50 and its 200-day simple moving average is $26.40. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.02. Phreesia, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $30.53.

Phreesia (NYSE:PHR) last issued its earnings results on Wednesday, May 28th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.06. The business had revenue of $115.94 million for the quarter, compared to the consensus estimate of $115.00 million. Phreesia had a negative net margin of 9.83% and a negative return on equity of 16.23%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. As a group, equities research analysts predict that Phreesia, Inc. will post -1.1 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.