Phreesia, Inc.'s (NYSE:PHR) General Counsel and Secretary, Allison C. Hoffman, has sold a total of 10,175 shares of the company's common stock over two consecutive days, according to recent filings. The transactions, which took place on April 8 and 9, 2024, resulted in proceeds exceeding $233,000.
On the first day, Hoffman sold 5,494 shares at prices ranging from $22.00 to $22.98, with a weighted average price of $22.6161, and an additional 55 shares at prices between $23.00 and $23.04, averaging $23.0163 per share. These sales amounted to approximately $125,518. The following day, she sold 4,626 shares at a weighted average price of $23.4241, with individual transactions ranging from $22.885 to $23.78. The second day's sales totaled around $108,359.
The filings indicated that these sales were part of non-discretionary transactions to cover tax withholding obligations related to restricted stock units and were executed in accordance with the company's mandatory sell-to-cover policy. Additionally, the sale on April 9 was carried out under a pre-arranged Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan for buying or selling stocks at a time when they are not in possession of material non-public information.
Following these transactions, Hoffman still holds a significant number of shares in Phreesia, with the filings showing ownership of 136,859 shares after the sales were completed.
Investors often monitor insider sales as they can provide insights into an insider's view of the company's current valuation. However, sales to cover tax obligations or those conducted under Rule 10b5-1 plans are typically viewed as less indicative of an insider's sentiment towards the company's future prospects.
Phreesia, Inc. specializes in healthcare software solutions, providing a platform for patient intake management and other services to healthcare organizations. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol PHR.
InvestingPro Insights
Phreesia, Inc. (NYSE:PHR) has recently been in the spotlight due to insider trading activity, but what does the broader financial data say about the company's performance and outlook? According to InvestingPro data, Phreesia holds a market capitalization of $1.31 billion USD, which is reflective of the company's scale in the healthcare software solutions sector. Despite the insider sales, it's worth noting that Phreesia has shown a robust revenue growth of 26.84% over the last twelve months as of Q4 2024, indicating an expanding business.
However, one of the InvestingPro Tips suggests that analysts do not anticipate the company will be profitable this year. This aligns with the reported negative P/E ratio of -9.20, and an adjusted P/E ratio for the same period at -9.96. The absence of profitability over the last twelve months is a critical factor for investors to consider, especially when juxtaposed with the company's moderate level of debt, as noted in another InvestingPro Tip.
Moreover, Phreesia does not pay a dividend to shareholders, which could influence the investment strategies of income-focused investors. This decision could be attributed to the company's current focus on growth and expansion within its market segment.
For readers interested in a deeper dive into Phreesia's financials and future prospects, there are additional InvestingPro Tips available at https://www.investing.com/pro/PHR. To enhance your research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With InvestingPro, access a comprehensive list of tips that can provide further insights into Phreesia's financial health and investment potential.
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