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

Baillie Gifford & Co. lowered its holdings in Progyny, Inc. (NASDAQ:PGNY) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,110,107 shares of the company’s stock after selling 18,366 shares during the quarter. Baillie Gifford & Co.’s holdings in Progyny were worth $42,351,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new stake in Progyny during the third quarter worth $53,000. Qube Research & Technologies Ltd lifted its holdings in Progyny by 27.6% during the third quarter. Qube Research & Technologies Ltd now owns 135,518 shares of the company’s stock valued at $4,610,000 after purchasing an additional 29,273 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Progyny by 102.5% during the third quarter. Tower Research Capital LLC TRC now owns 11,029 shares of the company’s stock valued at $375,000 after purchasing an additional 5,582 shares in the last quarter. Gotham Asset Management LLC purchased a new position in Progyny during the third quarter valued at $1,116,000. Finally, Axxcess Wealth Management LLC purchased a new position in Progyny during the third quarter valued at $307,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Wall Street Analyst Weigh In

PGNY has been the topic of several recent analyst reports. BTIG Research decreased their price objective on shares of Progyny from $50.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Barclays decreased their price target on shares of Progyny from $48.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, May 13th. Truist Financial decreased their price target on shares of Progyny from $46.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, May 17th. KeyCorp downgraded shares of Progyny from an “overweight” rating to a “sector weight” rating in a research note on Friday, May 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 price target on shares of Progyny in a research note on Thursday, May 16th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.11.

Progyny Price Performance

Shares of NASDAQ PGNY traded up $0.18 during midday trading on Friday, hitting $28.44. The company’s stock had a trading volume of 832,679 shares, compared to its average volume of 968,442. The business’s fifty day simple moving average is $28.20 and its two-hundred day simple moving average is $33.97. Progyny, Inc. has a 1 year low of $23.90 and a 1 year high of $44.95. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 46.62, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. Progyny had a net margin of 5.53% and a return on equity of 11.61%. The business had revenue of $278.08 million during the quarter, compared to analyst estimates of $289.41 million. During the same quarter last year, the firm posted $0.18 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts anticipate that Progyny, Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity

In related news, President Michael E. Sturmer sold 4,515 shares of Progyny stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $31.95, for a total value of $144,254.25. Following the completion of the transaction, the president now owns 380,038 shares in the company, valued at $12,142,214.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $28.39, for a total value of $41,506.18. Following the completion of the transaction, the director now owns 10,098 shares in the company, valued at $286,682.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael E. Sturmer sold 4,515 shares of Progyny stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $31.95, for a total transaction of $144,254.25. Following the completion of the transaction, the president now owns 380,038 shares of the company’s stock, valued at approximately $12,142,214.10. The disclosure for this sale can be found here. Insiders own 12.30% 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.