Progyny, Inc. $PGNY Shares Bought by PDT Partners LLC

Key Points

• PDT Partners LLC increased its stake in Progyny, Inc. by 38.7% in Q1, now owning 278,306 shares valued at approximately $6.2 million.
• Progyny's stock opened at $23.67, showing a 1.8% increase, and has a market cap of $2.04 billion with a P/E ratio of 40.12.
• The company reported a miss in EPS of $0.19 compared to analyst estimates of $0.42 for the last quarter, but revenue increased by 9.5% year-over-year to $332.87 million.

PDT Partners LLC lifted its holdings in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 38.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,306 shares of the company's stock after buying an additional 77,670 shares during the quarter. PDT Partners LLC owned 0.32% of Progyny worth $6,217,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Progyny in the first quarter valued at approximately $44,000. Brooklyn Investment Group boosted its position in Progyny by 5,216.4% during the first quarter. Brooklyn Investment Group now owns 3,243 shares of the company's stock worth $72,000 after purchasing an additional 3,182 shares in the last quarter. GAMMA Investing LLC boosted its position in Progyny by 233.9% during the first 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 boosted its position in Progyny by 57.9% during the first quarter. AlphaQuest LLC now owns 5,668 shares of the company's stock worth $127,000 after purchasing an additional 2,079 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in Progyny during the first quarter worth $228,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PGNY has been the topic of a number of research analyst reports. Wall Street Zen upgraded Progyny from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Canaccord Genuity Group boosted their target price on Progyny from $21.00 to $23.00 and gave the stock a "hold" rating in a research report on Wednesday, August 20th. Leerink Partners upgraded Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 target price on the stock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their target price on Progyny from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 26th. Finally, Truist Financial boosted their price target on Progyny from $24.00 to $27.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Progyny presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.30.

Progyny Trading Down 4.3%

Shares of NASDAQ PGNY traded down $1.01 during trading on Friday, reaching $22.55. The company had a trading volume of 978,886 shares, compared to its average volume of 1,029,759. Progyny, Inc. has a twelve month low of $13.39 and a twelve month high of $26.76. The stock has a market capitalization of $1.94 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 1.93 and a beta of 1.33. The stock has a 50-day moving average price of $22.94 and a two-hundred day moving average price of $22.24.

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

Insider Activity at Progyny

In related news, EVP Allison Swartz sold 2,398 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $22.96, for a total value of $55,058.08. Following the completion of the transaction, the executive vice president directly owned 79,697 shares in the company, valued at approximately $1,829,843.12. This represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cheryl Scott sold 2,675 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total value of $59,037.25. Following the completion of the transaction, the director owned 14,112 shares of the company's stock, valued at $311,451.84. The trade was a 15.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,570 shares of company stock worth $238,348. 9.40% of the stock is currently owned by insiders.

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.