Point72 Asset Management L.P. Trims Stake in Progyny, Inc. (NASDAQ:PGNY)

Point72 Asset Management L.P. decreased its position in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 32.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 534,074 shares of the company's stock after selling 255,344 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.63% of Progyny worth $9,213,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. ProShare Advisors LLC lifted its holdings in Progyny by 36.0% in the fourth quarter. ProShare Advisors LLC now owns 23,800 shares of the company's stock valued at $411,000 after acquiring an additional 6,299 shares during the period. Nuveen Asset Management LLC lifted its holdings in Progyny by 38.4% in the fourth quarter. Nuveen Asset Management LLC now owns 295,979 shares of the company's stock valued at $5,106,000 after acquiring an additional 82,087 shares during the period. Numerai GP LLC lifted its holdings in Progyny by 117.6% in the fourth quarter. Numerai GP LLC now owns 129,883 shares of the company's stock valued at $2,240,000 after acquiring an additional 70,191 shares during the period. Moore Capital Management LP bought a new position in Progyny in the fourth quarter valued at about $1,382,000. Finally, Focus Partners Wealth raised its stake in shares of Progyny by 20.4% in the fourth quarter. Focus Partners Wealth now owns 60,189 shares of the company's stock worth $1,038,000 after buying an additional 10,189 shares during the period. Institutional investors own 94.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. BTIG Research raised Progyny from a "neutral" rating to a "buy" rating and set a $28.00 target price on the stock in a research note on Monday, March 31st. Bank of America lifted their price objective on Progyny from $21.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Canaccord Genuity Group reduced their price objective on Progyny from $23.00 to $21.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Progyny from $17.00 to $23.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $23.45.

Progyny Stock Down 1.8%

Shares of NASDAQ:PGNY traded down $0.37 during trading on Friday, hitting $20.52. The stock had a trading volume of 822,500 shares, compared to its average volume of 1,710,099. Progyny, Inc. has a 12-month low of $13.39 and a 12-month high of $30.42. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37. The stock has a 50-day simple moving average of $22.15 and a two-hundred day simple moving average of $19.93.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.28). The company had revenue of $324.04 million for the quarter, compared to analyst estimates of $307.86 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm's revenue was up 16.5% on a year-over-year basis. During the same period last year, the business earned $0.17 earnings per share. As a group, 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.