Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 37,052 Phreesia, Inc. (NYSE:PHR)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Phreesia, Inc. (NYSE:PHR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 37,052 shares of the company’s stock, valued at approximately $932,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Phreesia as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Champlain Investment Partners LLC grew its holdings in shares of Phreesia by 4.1% in the third quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock worth $57,062,000 after purchasing an additional 97,847 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Phreesia by 3.0% in the third quarter. Franklin Resources Inc. now owns 1,497,631 shares of the company’s stock worth $31,495,000 after purchasing an additional 42,973 shares during the last quarter. State Street Corp grew its holdings in shares of Phreesia by 7.1% in the third quarter. State Street Corp now owns 1,327,586 shares of the company’s stock worth $30,256,000 after purchasing an additional 88,517 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Phreesia by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company’s stock worth $28,397,000 after purchasing an additional 55,934 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Phreesia by 10.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 493,448 shares of the company’s stock worth $12,415,000 after purchasing an additional 46,209 shares during the last quarter. Institutional investors own 92.10% of the company’s stock.

Insider Activity at Phreesia

In related news, CFO Balaji Gandhi sold 3,195 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $26.61, for a total value of $85,018.95. Following the completion of the transaction, the chief financial officer now directly owns 148,509 shares of the company’s stock, valued at $3,951,824.49. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Evan Roberts sold 2,873 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $26.61, for a total transaction of $76,450.53. Following the completion of the transaction, the chief operating officer now directly owns 779,993 shares of the company’s stock, valued at $20,755,613.73. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 162,442 shares of company stock valued at $4,611,300 in the last three months. 5.80% of the stock is owned by insiders.

Phreesia Stock Performance

Shares of Phreesia stock opened at $27.59 on Friday. The firm has a market capitalization of $1.62 billion, a P/E ratio of -18.77 and a beta of 1.03. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average price of $27.32 and a 200 day moving average price of $24.06. Phreesia, Inc. has a 52 week low of $17.07 and a 52 week high of $30.53.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. KeyCorp upped their price target on shares of Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Robert W. Baird cut their price target on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. JMP Securities reiterated a “market outperform” rating and set a $30.00 target price on shares of Phreesia in a report on Tuesday, December 10th. Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $24.00 to $32.00 in a report on Wednesday, January 8th. Finally, Truist Financial increased their target price on shares of Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $31.33.

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.