Progyny, Inc. (NASDAQ:PGNY) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. lessened its stake in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 31.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,128,473 shares of the company's stock after selling 515,419 shares during the quarter. Baillie Gifford & Co. owned approximately 1.18% of Progyny worth $41,957,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PGNY. Gotham Asset Management LLC purchased a new stake in Progyny in the third quarter worth $1,116,000. International Assets Investment Management LLC raised its holdings in Progyny by 9,381.3% in the fourth quarter. International Assets Investment Management LLC now owns 158,053 shares of the company's stock worth $5,876,411,000 after purchasing an additional 156,386 shares in the last quarter. Northern Trust Corp raised its holdings in Progyny by 1.3% in the third quarter. Northern Trust Corp now owns 1,166,806 shares of the company's stock worth $39,695,000 after purchasing an additional 15,208 shares in the last quarter. Invesco Ltd. raised its holdings in Progyny by 67.0% in the third quarter. Invesco Ltd. now owns 888,427 shares of the company's stock worth $30,224,000 after purchasing an additional 356,529 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Progyny by 12.7% in the third quarter. Deutsche Bank AG now owns 42,029 shares of the company's stock worth $1,430,000 after purchasing an additional 4,738 shares in the last quarter. Hedge funds and other institutional investors own 94.93% of the company's stock.

Progyny Stock Down 3.1 %

NASDAQ:PGNY traded down $1.12 on Wednesday, hitting $34.83. The stock had a trading volume of 735,992 shares, compared to its average volume of 796,055. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 56.18, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The business's 50-day simple moving average is $37.55 and its two-hundred day simple moving average is $35.69. Progyny, Inc. has a 52-week low of $29.44 and a 52-week high of $44.95.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data 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. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The firm had revenue of $269.94 million for the quarter, compared to analysts' expectations of $274.08 million. During the same period in the previous year, the firm earned $0.03 EPS. The business's quarterly revenue was up 26.0% on a year-over-year basis. As a group, equities research analysts anticipate that Progyny, Inc. will post 0.7 EPS for the current year.

Analyst Ratings Changes

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

Insider Activity

In related news, President Michael E. Sturmer sold 2,260 shares of the company's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $40.00, for a total transaction of $90,400.00. Following the transaction, the president now directly owns 158,532 shares of the company's stock, valued at approximately $6,341,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, President Michael E. Sturmer sold 2,260 shares of the company's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $40.00, for a total transaction of $90,400.00. Following the transaction, the president now directly owns 158,532 shares of the company's stock, valued at approximately $6,341,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman David J. Schlanger sold 1,000 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $37.52, for a total value of $37,520.00. Following the transaction, the chairman now directly owns 83,631 shares in the company, valued at $3,137,835.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,515 shares of company stock valued at $4,570,131. 14.00% of the stock is currently owned by insiders.

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.