Cubist Systematic Strategies LLC Has $1.02 Million Stake in Progyny, Inc. $PGNY

Key Points

• Cubist Systematic Strategies LLC significantly reduced its stake in Progyny, Inc. by 89.3%, selling 380,118 shares and now owns only 45,505 shares valued at approximately $1.02 million.
• Progyny has attracted interest from various institutional investors, with BI Asset Management acquiring a new stake and Brooklyn Investment Group increasing its stake by over 5,000% in the first quarter.
• Analysts have raised price targets for Progyny, with an average target of $25.30 and some analysts giving it a "strong-buy" rating based on expected growth in earnings and revenue.

Cubist Systematic Strategies LLC lowered its stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 89.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,505 shares of the company's stock after selling 380,118 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.05% of Progyny worth $1,017,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Progyny in the 1st quarter worth $44,000. Brooklyn Investment Group boosted its position in shares of Progyny by 5,216.4% in the 1st quarter. Brooklyn Investment Group now owns 3,243 shares of the company's stock valued at $72,000 after purchasing an additional 3,182 shares during the period. GAMMA Investing LLC increased its stake in Progyny by 233.9% in the 1st quarter. GAMMA Investing LLC now owns 5,379 shares of the company's stock worth $120,000 after purchasing an additional 3,768 shares in the last quarter. AlphaQuest LLC raised its holdings in Progyny by 57.9% during the 1st quarter. AlphaQuest LLC now owns 5,668 shares of the company's stock worth $127,000 after buying an additional 2,079 shares during the period. Finally, State of Wyoming lifted its stake in Progyny by 98.2% during the fourth quarter. State of Wyoming now owns 12,376 shares of the company's stock valued at $213,000 after buying an additional 6,132 shares in the last quarter. 94.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Leerink Partnrs upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 8th. Raymond James Financial set a $28.00 price target on shares of Progyny in a research report on Friday, August 8th. Truist Financial lifted their price objective on shares of Progyny from $24.00 to $27.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Canaccord Genuity Group boosted their target price on shares of Progyny from $21.00 to $23.00 and gave the company a "hold" rating in a research note on Wednesday, August 20th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 target price (up previously from $26.00) on shares of Progyny in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.30.

Insider Activity

In other news, EVP Allison Swartz sold 2,398 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $22.96, for a total transaction of $55,058.08. Following the completion of the sale, the executive vice president directly owned 79,697 shares of the company's stock, valued at $1,829,843.12. This trade represents a 2.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin K. Gordon sold 2,500 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $22.04, for a total value of $55,100.00. Following the completion of the sale, the director directly owned 12,501 shares of the company's stock, valued at approximately $275,522.04. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,895 shares of company stock worth $179,311. Insiders own 9.40% of the company's stock.

Progyny Trading Down 2.8%

PGNY stock traded down $0.66 during midday trading on Friday, reaching $22.51. The company had a trading volume of 801,637 shares, compared to its average volume of 878,929. The company has a 50 day moving average of $23.05 and a two-hundred day moving average of $22.21. The company has a market capitalization of $1.94 billion, a P/E ratio of 38.15, a PEG ratio of 1.89 and a beta of 1.33. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $26.76.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.23). Progyny had a return on equity of 10.69% and a net margin of 4.28%.The company had revenue of $332.87 million during the quarter, compared to analyst estimates of $315.70 million. During the same period last year, the company posted $0.17 earnings per share. The company's revenue was up 9.5% compared to the same quarter last year. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. On average, sell-side analysts anticipate that Progyny, Inc. will post 0.6 earnings per share for the current year.

Progyny Company Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.