SCHEDULE: FMR LLC Reports 8.1% Stake in Phreesia Inc.

Sentiment:

Beneficial Ownership Report 6 August 2025 12:11 PM

FMR LLC and Abigail P. Johnson have reported an 8.1% beneficial ownership stake in Phreesia Inc., holding over 4.8 million shares.

Summary

FMR LLC and Abigail P. Johnson collectively beneficially own 4,840,274.03 shares of Phreesia Inc. Common Stock.
This ownership represents 8.1% of the total outstanding class of securities.
The event requiring this filing occurred on June 30, 2025.
FMR LLC holds sole voting power over 4,838,343.00 shares and sole dispositive power over 4,840,274.03 shares.
Abigail P. Johnson holds sole dispositive power over 4,840,274.03 shares, with no sole or shared voting power.
The filing is an Amendment No. 8 to a previous Schedule 13G.
FMR LLC is classified as a parent holding company, and Abigail P. Johnson is an individual reporting person.
Subsidiaries of FMR LLC, including Fidelity Management & Research Company LLC, FIAM LLC, and Strategic Advisers LLC, are identified as entities beneficially owning shares, with Fidelity Management & Research Company LLC owning 5% or more.

Sentiment

Score: 5

Explanation: The filing is a factual report of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the company's performance or outlook.

Positives

Significant institutional ownership by FMR LLC, a major investment management firm, may signal confidence in Phreesia Inc.'s long-term prospects.
The passive nature of the Schedule 13G filing indicates that FMR LLC is not seeking to influence or change control of the issuer, suggesting a long-term investment horizon.

Future Outlook

This filing is a beneficial ownership report and does not contain forward-looking statements or guidance regarding Phreesia Inc.'s future performance or strategic direction.

Industry Context

The filing reflects a significant passive investment by a major institutional asset manager in a healthcare technology company. Such investments are common in the industry as large funds seek exposure to growth sectors, and they can provide a degree of stability to a company's shareholder base.

Corporate Governance

Change Type	Description	Effective Date	Impact Assessment
Internal Control Structure Disclosure	Disclosure that members of the Johnson family, including Abigail P. Johnson, are predominant owners of Series B voting common shares of FMR LLC (49% voting power) and have a shareholders' voting agreement, potentially forming a controlling group with respect to FMR LLC under the Investment Company Act of 1940.	NA	This describes the internal governance structure of the reporting entity (FMR LLC) and its control, rather than a change in Phreesia Inc.'s corporate governance. It clarifies the ultimate control over the reported shares.

Stakeholder Impact

Shareholders may view the significant institutional ownership by FMR LLC as a positive signal, potentially increasing investor confidence and liquidity for Phreesia Inc.'s stock.

Key Dates

Date	Description
05/23/2023	Effective date of Power of Attorney for Richard Bourgelas to sign on behalf of FMR LLC and Abigail P. Johnson.
08/08/2023	Date of previous Schedule 13G filing by FMR LLC, where the Power of Attorney was incorporated by reference.
06/30/2025	Date of event which required the filing of this statement.
08/05/2025	Date of signing and filing of this Schedule 13G.

Keywords

Phreesia Inc., FMR LLC, Abigail P. Johnson, Beneficial Ownership, Institutional Investor, Common Stock, Healthcare Technology, Investment Management

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