Progyny, Inc. (NASDAQ:PGNY) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC cut its holdings in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,828,974 shares of the company's stock after selling 47,268 shares during the period. Riverbridge Partners LLC owned about 1.91% of Progyny worth $68,001,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of Progyny by 3.8% during the first quarter. BlackRock Inc. now owns 9,700,353 shares of the company's stock valued at $311,575,000 after acquiring an additional 353,499 shares in the last quarter. Vanguard Group Inc. grew its stake in Progyny by 7.4% in the third quarter. Vanguard Group Inc. now owns 8,157,604 shares of the company's stock worth $277,522,000 after purchasing an additional 565,160 shares in the last quarter. Clearbridge Investments LLC grew its stake in Progyny by 2.7% in the first quarter. Clearbridge Investments LLC now owns 3,223,502 shares of the company's stock worth $165,688,000 after purchasing an additional 86,249 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Progyny by 11.3% in the first quarter. Thrivent Financial for Lutherans now owns 2,885,980 shares of the company's stock worth $92,698,000 after purchasing an additional 293,192 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Progyny by 19.4% in the third quarter. Jennison Associates LLC now owns 2,706,454 shares of the company's stock worth $92,074,000 after purchasing an additional 438,932 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Stock Performance

Shares of PGNY traded down $0.25 during mid-day trading on Thursday, reaching $35.50. 540,272 shares of the company's stock traded hands, compared to its average volume of 812,158. The business's 50-day moving average price is $37.77 and its 200-day moving average price is $35.64. The stock has a market capitalization of $3.43 billion, a P/E ratio of 57.26, a price-to-earnings-growth ratio of 1.47 and a beta of 1.48. Progyny, Inc. has a 12 month low of $29.44 and a 12 month high of $44.95.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.04. The company had revenue of $269.94 million for the quarter, compared to analysts' expectations of $274.08 million. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The business's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 earnings per share. Equities research analysts anticipate that Progyny, Inc. will post 0.7 EPS for the current year.

Analysts Set New Price Targets

PGNY has been the subject of a number of research reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $48.00 price target on shares of Progyny in a research note on Wednesday, February 28th. SVB Leerink initiated coverage on Progyny in a research note on Monday, February 26th. They issued an "outperform" rating and a $49.00 price target for the company. Barclays initiated coverage on Progyny in a research note on Wednesday, January 3rd. They issued an "overweight" rating and a $48.00 price target for the company. Leerink Partnrs reissued an "outperform" rating on shares of Progyny in a report on Monday, February 26th. Finally, Truist Financial cut their target price on shares of Progyny from $47.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, February 28th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $48.30.

Insider Activity

In related news, President Michael E. Sturmer sold 2,260 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $40.00, for a total transaction of $90,400.00. Following the transaction, the president now owns 158,532 shares in the company, valued at $6,341,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Michael E. Sturmer sold 2,260 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $40.00, for a total transaction of $90,400.00. Following the transaction, the president now owns 158,532 shares in the company, valued at $6,341,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David J. Schlanger sold 71,272 shares of the firm's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $37.80, for a total transaction of $2,694,081.60. Following the transaction, the chairman now owns 86,312 shares in the company, valued at approximately $3,262,593.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,517 shares of company stock valued at $7,070,287. Insiders own 14.30% of the company's stock.

Progyny Company Profile

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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