Phreesia, Inc.'s (NYSE:PHR) Chief Financial Officer, Balaji Gandhi, recently sold shares of the company stock, according to the latest Form 4 filing with the Securities and Exchange Commission. The transactions, which took place on September 10, 2024, involved the sale of 3,502 shares at a weighted average price of $23.25 per share, totaling approximately $81,422.
The sales were executed in multiple transactions with prices ranging from $22.94 to $23.17 per share. The filing stated that these shares were sold as part of an automatic sell-to-cover policy to satisfy tax withholding obligations related to the settlement of a restricted stock unit award.
Following the sale, Gandhi still holds a significant number of shares in the company, with 98,578 shares remaining in his possession. The disclosure of this information ensures transparency for investors and provides insight into the trading activities of the company's executives.
Investors and interested parties can request full details on the number of shares sold at each price point within the provided range, as per the filing's footnote. The transactions are a routine part of executive compensation and tax planning and are reported in compliance with SEC regulations.
Phreesia, Inc. specializes in business services and is known for providing innovative healthcare technology solutions. The company's shares are publicly traded on the New York Stock Exchange under the ticker symbol NYSE:PHR.
In other recent news, Phreesia Inc . reported a 19% year-over-year increase in second-quarter revenue, slightly surpassing expectations. The company also reported a positive EBITDA of $7 million, beating the consensus estimate of $4 million. This positive financial performance led to an increased EBITDA forecast for fiscal year 2025, suggesting an improvement in profit margins to 7%, up from a negative 10% year-over-year.
Financial services firm Baird raised its price target for Phreesia to $34.00, maintaining an Outperform rating on the stock. Similarly, Truist Securities adjusted its financial outlook for Phreesia, increasing its price target to $31.00 and sustaining a Buy rating. Piper Sandler reiterated its Overweight rating on Phreesia shares with a consistent price target of $30.00, and Canaccord Genuity maintained a Buy rating for Phreesia with a steady price target of $34.00.
These recent developments reflect the company's shift toward sustained profitable growth, with new guideposts for both client growth and revenue per client for fiscal years 2025 to 2026. Phreesia's financial results and future growth indicators have contributed to the decision of these firms to raise or maintain their price targets, reflecting confidence in the company's financial trajectory and market performance.
InvestingPro Insights
As Phreesia, Inc. (NYSE:PHR) navigates the financial markets, recent activity suggests a mixed sentiment among analysts and investors. The company's Chief Financial Officer's sale of shares comes at a time when Phreesia is facing certain financial headwinds. According to InvestingPro Tips, analysts have recently revised their earnings estimates upwards for the upcoming period, indicating potential optimism about the company's future performance. However, it's worth noting that these same analysts do not expect Phreesia to be profitable this year, which may raise concerns for potential investors.
From a market performance perspective, Phreesia's stock has experienced volatility, taking a significant hit over the last week with a 7.51% decline in price total return. Despite this short-term dip, the company has shown a strong return over the last three months, with a 16.36% increase. This could suggest resilience in investor confidence over a longer-term horizon.
InvestingPro Data provides further context to the company's financial status with key metrics. Phreesia's market capitalization stands at $1.37 billion, reflecting its scale in the healthcare technology market. The company's Price / Book ratio as of the last twelve months is 5.36, which is on the higher side, indicating that the stock might be trading at a premium compared to its book value. Additionally, the revenue growth over the same period was a robust 22.1%, showcasing the company's ability to increase its sales in a competitive environment.
For investors seeking in-depth analysis, there are additional InvestingPro Tips available on the platform, providing a comprehensive look at Phreesia's financial health and market performance. As of the latest information, InvestingPro lists a total of 8 tips for PHR, which can be accessed for further guidance on investment decisions.
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