Pale Fire Capital SE 4
4 · Phreesia, Inc. · Filed Mar 19, 2026
Research Summary
AI-generated summary of this filing
Phreesia (PHR) 10% Owner Pale Fire Capital Buys $18.3M Stock
What Happened
- Pale Fire Capital SE (reported jointly with related Pale Fire entities and two control persons) disclosed three open-market purchases of Phreesia (PHR) common stock (transaction code P) on Mar 17–19, 2026. The purchases were: 303,300 shares at a weighted average price of $11.20 for $3,395,807 (3/17); 519,196 shares at $11.15 for $5,790,645 (3/18); and 780,009 shares at $11.69 for $9,118,227 (3/19). Total acquired = 1,602,505 shares for about $18,304,679. These were purchases (buying shares), which are generally interpreted as a positive trading signal versus sales.
Key Details
- Dates & prices:
- 2026-03-17: 303,300 shares @ weighted avg $11.20 (prices ranged $11.1619–$11.2004) — $3,395,807 (F2)
- 2026-03-18: 519,196 shares @ weighted avg $11.15 (prices ranged $11.0633–$11.1683) — $5,790,645 (F4)
- 2026-03-19: 780,009 shares @ weighted avg $11.69 (prices ranged $11.3943–$11.7713) — $9,118,227 (F5)
- Aggregate: 1,602,505 shares purchased for ≈ $18.30M.
- Shares owned after transaction: filing notes the Reporting Persons are part of a group that beneficially owns more than 10% of Phreesia, but the exact post-transaction share total is not specified in this Form 4 (see F1/F3).
- Filing & formality: Form 4 was filed on 2026-03-19 covering trades on 3/17–3/19; the filing appears timely. Footnotes explain the joint filing structure and the relationships among Pale Fire entities and named control persons (F1, F3).
- Transaction type: Open-market purchases (code P). Weighted-average prices reported with ranges; Reporting Persons offered to provide per-transaction breakdowns on request (F2–F5).
Context
- This is an institutional 10%+ owner (Pale Fire Capital and related entities), not an individual executive. Institutional buys can reflect portfolio-level decisions rather than insider knowledge of near-term company events.
- No options exercises, awards, gifts, or tax-withholding events are involved—these were straight purchases in the open market.
- The filing disclaims broader beneficial ownership beyond pecuniary interest per the footnotes; interpret this as reporting of an institutional stake increase rather than a management trading signal.
Insider Transaction Report
Form 4
Pale Fire Capital SE
10% Owner
Transactions
- Purchase
Common Stock, par value $0.01 per share
[F1][F2][F3]2026-03-17$11.20/sh+303,300$3,395,807→ 6,349,624 total(indirect: By Pale Fire Capital SICAV a.s.) - Purchase
Common Stock, par value $0.01 per share
[F1][F4][F3]2026-03-18$11.15/sh+519,196$5,790,645→ 6,868,820 total(indirect: By Pale Fire Capital SICAV a.s.) - Purchase
Common Stock, par value $0.01 per share
[F1][F5][F3]2026-03-19$11.69/sh+780,009$9,118,227→ 7,648,829 total(indirect: By Pale Fire Capital SICAV a.s.)
Footnotes (5)
- [F1]This Form 4 is filed jointly by Pale Fire Capital SE ("Pale Fire Capital"), Pale Fire Capital SICAV a.s. ("PFC SICAV"), Pale Fire Capital investicni spolecnost a.s. ("PFC IS"), Dusan Senkypl and Jan Barta (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding shares of Common Stock, par value $0.01 per share. The Reporting Persons disclaim beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
- [F2]Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $11.1619 to $11.2004, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.
- [F3]Represents securities directly owned by PFC SICAV. PFC IS, as the investment manager of PFC SICAV, may be deemed to beneficially own the securities directly owned by PFC SICAV. Pale Fire Capital, as the controlling person and sole shareholder of each of PFC SICAV and PFC IS, may be deemed to beneficially own the securities beneficially owned directly by PFC SICAV. Mr. Senkypl, as a control person and Chairman of the board of Pale Fire Capital, may be deemed to beneficially own the securities beneficially owned directly by PFC SICAV. Mr. Barta, as a control person and Chairman of the supervisory board of Pale Fire Capital and Chief Investment Officer of PFC IS, may be deemed to beneficially own the securities beneficially owned directly by PFC SICAV.
- [F4]Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $11.0633 to $11.1683, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.
- [F5]Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $11.3943 to $11.7713, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.