Vanguard Group Inc. Sells 74,169 Shares of Progyny, Inc. $PGNY

Key Points

• Vanguard Group Inc. has reduced its stake in Progyny, Inc. by 0.9%, now holding approximately 10.06% of the company's shares, valued at $192.5 million.
• A variety of institutional investors have recently adjusted their positions in Progyny, with some, like GAMMA Investing LLC, increasing their stakes significantly by over 200%.
• Analyst ratings for Progyny are generally positive, with one "Strong Buy," six "Buy," and four "Hold" ratings, alongside an average target price increase to $24.90 from previous estimates.

Vanguard Group Inc. cut its holdings in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,617,963 shares of the company's stock after selling 74,169 shares during the quarter. Vanguard Group Inc. owned approximately 10.06% of Progyny worth $192,525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Natixis acquired a new stake in Progyny in the fourth quarter worth about $69,000. GAMMA Investing LLC increased its position in Progyny by 233.9% in 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 period. State of Wyoming increased its position in Progyny by 98.2% in the fourth quarter. State of Wyoming now owns 12,376 shares of the company's stock worth $213,000 after purchasing an additional 6,132 shares during the period. Cerity Partners LLC acquired a new stake in Progyny in the fourth quarter worth about $229,000. Finally, XTX Topco Ltd acquired a new stake in Progyny in the first quarter worth about $241,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Cheryl Scott sold 2,675 shares of Progyny 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 transaction, the director owned 14,112 shares in the company, valued at $311,451.84. The trade was a 15.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin K. Gordon sold 2,500 shares of Progyny stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $22.04, for a total value of $55,100.00. Following the transaction, the director owned 12,501 shares in the company, valued at $275,522.04. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.40% of the company's stock.

Progyny Stock Performance

PGNY traded down $0.39 during midday trading on Monday, reaching $23.14. 825,635 shares of the company were exchanged, compared to its average volume of 1,131,317. Progyny, Inc. has a one year low of $13.39 and a one year high of $26.76. The stock has a market capitalization of $1.99 billion, a P/E ratio of 39.22, a PEG ratio of 1.92 and a beta of 1.32. The stock's 50-day simple moving average is $22.59 and its 200 day simple moving average is $22.18.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.19 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $315.70 million. During the same quarter last year, the business posted $0.17 EPS. Progyny's quarterly revenue was up 9.5% on a year-over-year basis. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. On average, research analysts anticipate that Progyny, Inc. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on PGNY. Wall Street Zen upgraded Progyny from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Leerink Partnrs upgraded Progyny from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 8th. 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 report on Tuesday, July 8th. Cantor Fitzgerald restated an "overweight" rating and set a $28.00 target price (up previously from $26.00) on shares of Progyny in a report on Friday, August 8th. Finally, Canaccord Genuity Group raised their target price on Progyny from $21.00 to $23.00 and gave the stock a "hold" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Progyny has an average rating of "Moderate Buy" and a consensus price target of $25.10.

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.