Edgestream Partners L.P. Sells 105,195 Shares of Progyny, Inc. (NASDAQ:PGNY)

Edgestream Partners L.P. lessened its position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 56.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 81,393 shares of the company's stock after selling 105,195 shares during the quarter. Edgestream Partners L.P. owned 0.10% of Progyny worth $1,818,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PGNY. CWM LLC increased its holdings in shares of Progyny by 268.8% in the 1st quarter. CWM LLC now owns 23,479 shares of the company's stock valued at $525,000 after acquiring an additional 17,112 shares during the period. Cerity Partners LLC boosted its holdings in shares of Progyny by 116.9% during the 1st quarter. Cerity Partners LLC now owns 28,881 shares of the company's stock worth $645,000 after purchasing an additional 15,563 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Progyny by 2.9% in the first quarter. Principal Financial Group Inc. now owns 471,826 shares of the company's stock valued at $10,541,000 after acquiring an additional 13,246 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Progyny by 0.7% during the first quarter. New York State Teachers Retirement System now owns 73,200 shares of the company's stock worth $1,635,000 after acquiring an additional 500 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in Progyny by 18.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 34,675 shares of the company's stock valued at $775,000 after acquiring an additional 5,459 shares in the last quarter. Institutional investors own 94.93% of the company's stock.

Insider Buying and Selling

In other news, Director Cheryl Scott sold 2,675 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total transaction of $59,037.25. Following the completion of the sale, the director owned 14,112 shares of the company's stock, valued at approximately $311,451.84. This represents a 15.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a research note on Monday, May 12th. Leerink Partners upgraded shares of Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 target price for the company in a research report on Tuesday, July 8th. Leerink Partnrs raised shares of Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. Truist Financial set a $27.00 price target on shares of Progyny and gave the stock a "hold" rating in a research note on Thursday. Finally, BTIG Research raised shares of Progyny from a "neutral" rating to a "buy" rating and set a $28.00 price objective for the company in a report on Monday, March 31st. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $24.82.

Progyny Stock Performance

Shares of PGNY stock opened at $23.01 on Friday. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $29.78. The firm has a market capitalization of $1.97 billion, a PE ratio of 40.37, a P/E/G ratio of 2.37 and a beta of 1.31. The stock's 50-day simple moving average is $21.79 and its 200-day simple moving average is $21.73.

Progyny (NASDAQ:PGNY - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.28). Progyny had a net margin of 4.33% and a return on equity of 10.90%. The company had revenue of $324.04 million during the quarter, compared to analysts' expectations of $307.86 million. During the same quarter last year, the business posted $0.17 earnings per share. The company's revenue for the quarter was up 16.5% on a year-over-year basis. Sell-side analysts forecast that Progyny, Inc. will post 0.6 earnings per share for the current year.

About Progyny

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.

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