Pale Fire Capital SE 4
4 · Phreesia, Inc. · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Phreesia (PHR) 10% Owner Pale Fire Capital Buys 1.275M Shares
What Happened
Pale Fire Capital SE (part of a >10% beneficial ownership group) purchased a total of 1,275,500 shares of Phreesia, Inc. (PHR) in three open‑market/private transactions (reporting code P). The trades: 1,000,500 shares on 2026-03-31 at an average price reported $8.16 ($8,160,478); 168,764 shares on 2026-04-01 at $8.43 ($1,421,938); and 106,236 shares on 2026-04-02 at $8.31 (~$882,407). Total cash spent across the three transactions is about $10.46 million. These are purchases (acquisitions), not sales.
Key Details
- Transaction dates and reported prices: 2026-03-31 @ $8.16 (1,000,500 sh), 2026-04-01 @ $8.43 (168,764 sh), 2026-04-02 @ $8.31 (106,236 sh). All are recorded as purchases (P).
- Total shares acquired: 1,275,500; total value: approximately $10,464,823.
- Footnotes: The Form 4 is a joint filing by Pale Fire Capital entities and two individuals (see F1). Some purchases were reported as weighted averages with price ranges ($7.7780–$8.3039 and $8.4080–$8.5269); the filers will provide trade‑by‑trade detail on request (F2, F4). F3 explains the ownership structure (PFC SICAV, PFC IS and control persons).
- Shares owned after the transactions: the filing reiterates the group beneficially owns >10% but does not state an exact post‑transaction count in the summary provided.
- Timeliness: Filing date 2026-04-02 for transactions on 3/31–4/2 — the filing does not indicate lateness.
Context
- This activity is by an institutional 10%+ owner (a Section 13(d) group), not an individual company executive; such institutional purchases reflect the fund’s investment decisions rather than insider views on operations.
- Purchases (unlike routine sales or option exercises followed by sales) can be interpreted by investors as increased institutional accumulation, but the filing itself provides only transaction facts, not motives.
Insider Transaction Report
Form 4
Pale Fire Capital SE
10% Owner
Transactions
- Purchase
Common Stock, par value $0.01 per share
[F1][F2][F3]2026-03-31$8.16/sh+1,000,500$8,160,478→ 8,649,329 total(indirect: By Pale Fire Capital SICAV a.s.) - Purchase
Common Stock, par value $0.01 per share
[F1][F4][F3]2026-04-01$8.43/sh+168,764$1,421,938→ 8,818,093 total(indirect: By Pale Fire Capital SICAV a.s.) - Purchase
Common Stock, par value $0.01 per share
[F1][F3]2026-04-02$8.31/sh+106,236$882,407→ 8,924,329 total(indirect: By Pale Fire Capital SICAV a.s.)
Footnotes (4)
- [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 $7.7780 to $8.3039, 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 $8.4080 to $8.5269, 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.