SCHEDULE: Vanguard Discloses 5.77% Stake in Phreesia Inc.

Vanguard Portfolio Management has reported beneficial ownership of 5.77% of Phreesia Inc.'s common stock as of March 31, 2026.

Summary

• Vanguard Portfolio Management, along with its affiliates Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC, has filed a Schedule 13G indicating beneficial ownership of Phreesia Inc. common stock.
• The filing reports that Vanguard beneficially owns 3,484,358 shares, representing 5.77% of the class of securities.
• Vanguard Portfolio Management has sole voting power over 149,237 shares and sole dispositive power over all 3,484,358 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, as it indicates a significant institutional investor's sustained interest in Phreesia Inc. without revealing any negative operational details.

Positives

• Vanguard's significant stake suggests confidence in Phreesia's long-term prospects, potentially attracting further institutional investment.
• The filing indicates that Vanguard manages these shares in the ordinary course of business, implying a stable, long-term investment approach rather than a short-term trading strategy.

Negatives

• The filing does not contain any negative financial or operational information about Phreesia Inc. itself, as it is a disclosure of ownership by Vanguard.

Risks

• As a large institutional holder, Vanguard's future investment decisions, including potential sales, could impact Phreesia's stock price.
• The filing does not detail specific risks related to Phreesia Inc.'s business operations or market position.

Future Outlook

The filing does not contain forward-looking statements or guidance from Phreesia Inc. It is a disclosure of beneficial ownership by Vanguard.

Management Comments

• "In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management LLC and the following affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates: Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC."
• "This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power."
• "This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Portfolio Management LLC, or business divisions of such subsidiaries whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

StockSavvy.ai notes that Vanguard's filing as an institutional investor with a significant stake in Phreesia Inc. is a common occurrence in the healthcare technology sector, reflecting the sector's appeal to large asset managers seeking growth opportunities.

Stakeholder Impact

• Shareholders: The filing confirms Vanguard's substantial investment, which can be seen as a vote of confidence, potentially stabilizing or increasing investor interest.
• Employees: Continued institutional support may contribute to company stability and growth, indirectly benefiting employees.
• Creditors: A stable, well-supported company is generally favorable for creditors.

Next Steps

• Vanguard will continue to monitor its investment in Phreesia Inc. and may adjust its holdings based on market conditions and company performance.
• Phreesia Inc. will continue its business operations, subject to the oversight and potential influence of its significant institutional shareholders.

Key Dates

Keywords

Phreesia Inc, Vanguard Portfolio Management, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Vanguard Fiduciary Trust Company, Vanguard Global Advisers