Envestnet Asset Management Inc. trimmed its stake in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 17.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,183 shares of the company's stock after selling 50,900 shares during the period. Envestnet Asset Management Inc. owned 0.28% of Progyny worth $5,299,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Progyny during the first quarter worth about $354,000. GAMMA Investing LLC increased 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 during the last quarter. Oppenheimer Asset Management Inc. increased its position in Progyny by 18.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 34,675 shares of the company's stock worth $775,000 after purchasing an additional 5,459 shares during the last quarter. Cerity Partners LLC acquired a new stake in Progyny during the fourth quarter worth about $229,000. Finally, Voya Investment Management LLC increased its position in Progyny by 1.4% during the fourth quarter. Voya Investment Management LLC now owns 51,792 shares of the company's stock worth $893,000 after purchasing an additional 701 shares during the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
PGNY has been the subject of several recent analyst reports. Truist Financial raised 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 dropped their price target on shares of Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a research report on Monday, May 12th. Leerink Partnrs upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of Progyny from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Leerink Partners upgraded shares of Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price target for the company in a research report on Tuesday, July 8th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Progyny has a consensus rating of "Moderate Buy" and a consensus price target of $24.82.
Read Our Latest Research Report on PGNY
Insiders Place Their Bets
In other Progyny news, Director Cheryl Scott sold 2,675 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total transaction of $59,037.25. Following the sale, the director owned 14,112 shares in the company, valued at approximately $311,451.84. The trade was a 15.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.40% of the company's stock.
Progyny Price Performance
Shares of NASDAQ:PGNY traded up $0.09 during midday trading on Monday, reaching $23.20. The company had a trading volume of 845,020 shares, compared to its average volume of 1,020,842. The stock's fifty day moving average price is $21.96 and its 200-day moving average price is $22.04. The stock has a market capitalization of $1.99 billion, a P/E ratio of 40.70, a PEG ratio of 2.32 and a beta of 1.31. Progyny, Inc. has a one year low of $13.39 and a one year high of $29.65.
Progyny (NASDAQ:PGNY - Get Free Report) last issued its quarterly 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 return on equity of 10.90% and a net margin of 4.33%. The company had revenue of $324.04 million during the quarter, compared to the consensus estimate of $307.86 million. During the same quarter last year, the firm posted $0.17 EPS. The firm's quarterly revenue was up 16.5% on a year-over-year basis. As a group, sell-side analysts forecast that Progyny, Inc. will post 0.6 earnings per share for the current year.
Progyny Company Profile
(
Free Report)
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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