Phreesia, Inc. (NYSE:PHR) Principal Accounting Officer Yvonne Hui has sold a portion of her company shares, according to the latest SEC filings. The transactions took place on July 16, 2024, involving the sale of 283 shares of common stock at an average price of $23.7356, totaling approximately $6,717.
This sale was conducted under Phreesia's mandatory sell-to-cover policy to satisfy tax withholding obligations related to the settlement of restricted stock units (RSUs). These RSUs were awarded under the Phreesia, Inc. 2019 Stock Option and Incentive Plan and are set to vest over a period extending to July 15, 2028, contingent on Hui's continued service to the company.
In addition to the sale, Hui also acquired 13,000 RSUs valued at $22.82 per share, amounting to a total of $296,660. These units will vest in increments starting from July 15, 2025, with the final portion vesting on July 15, 2028.
Following these transactions, Hui's ownership in Phreesia stands at 28,714 shares of common stock. The sale and acquisition of shares by a company's principal accounting officer is often closely monitored by investors as it may reflect the executive's confidence in the company's future prospects.
Phreesia, Inc., headquartered in Wilmington, DE, specializes in business services and provides a platform for patient intake management and other related services. The company's stock is publicly traded on the New York Stock Exchange under the symbol PHR.
In other recent news, Phreesia, Inc. has been the subject of significant developments. The company reported a robust 21% increase in revenue, reaching $101.2 million, and a positive adjusted EBITDA of $4.1 million. However, Phreesia revised its revenue guidance downward by $8 million due to the hastened conclusion of a clearinghouse partnership.
At their recent annual meeting, stockholders elected three Class II directors and ratified the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2025. The compensation of the company's named executive officers was also approved on a non-binding, advisory basis.
Analysts from DA Davidson, JPMorgan (NYSE:JPM), RBC Capital, and Needham have been closely following the company's progress. DA Davidson reaffirmed a Buy rating on Phreesia, highlighting the company's growth potential and lower balance sheet risk. JPMorgan adjusted its price target on Phreesia shares to $27, maintaining an 'Overweight' rating, while RBC Capital held steady with a 'Sector Perform' rating and a price target of $23. Needham analysts reiterated their 'Buy' rating with a $29 price target. These are all recent developments in the company's pursuit of growth and profitability.
InvestingPro Insights
Recent market activity for Phreesia, Inc. (NYSE:PHR) reflects a notable uptick in investor sentiment, as evidenced by a significant return over the last week of 30.34% and a strong return over the last month of 24.77%. These robust short-term gains underscore the market's positive reaction to various aspects of the company's performance and could be indicative of future trends.
Despite these gains, the company's financial health presents a mixed picture. Phreesia currently operates with a market capitalization of $1.42 billion and a high Price / Book ratio of 5.57 as of the last twelve months leading up to Q1 2025. This valuation metric suggests that the market may be pricing the company's stock at a premium compared to its book value. Additionally, with a negative P/E ratio of -11.53, Phreesia is not profitable over the last twelve months, which aligns with analysts' expectations that the company will not be profitable this year.
InvestingPro Tips reveal that six analysts have recently revised their earnings upwards for the upcoming period, signaling potential optimism about the company's future financial performance. Moreover, Phreesia does not pay dividends, which could be a factor for income-focused investors to consider. For those interested in a deeper dive into Phreesia's financials and future outlook, InvestingPro offers additional tips. Readers can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
To explore these insights further and access a broader range of analytical tools, visit https://www.investing.com/pro/PHR for additional InvestingPro Tips, which currently number seven in total for Phreesia, Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.