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

Baillie Gifford & Co. decreased its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 21.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 870,997 shares of the company’s stock after selling 239,110 shares during the period. Baillie Gifford & Co.’s holdings in Progyny were worth $24,919,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Progyny by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company’s stock worth $317,097,000 after purchasing an additional 41,687 shares during the period. International Assets Investment Management LLC grew its stake in shares of Progyny by 352,414.2% in the fourth quarter. International Assets Investment Management LLC now owns 5,876,411 shares of the company’s stock worth $218,485,000 after acquiring an additional 5,874,744 shares in the last quarter. Jennison Associates LLC increased its position in shares of Progyny by 2.7% during the first quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock worth $99,054,000 after acquiring an additional 67,632 shares during the period. Principal Financial Group Inc. raised its stake in shares of Progyny by 3.1% in the first quarter. Principal Financial Group Inc. now owns 1,400,701 shares of the company’s stock valued at $53,437,000 after acquiring an additional 42,302 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its holdings in Progyny by 11.8% in the first quarter. Congress Asset Management Co. MA now owns 1,009,483 shares of the company’s stock valued at $38,512,000 after purchasing an additional 106,574 shares during the period. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JMP Securities cut their price target on Progyny from $36.00 to $31.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 7th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $24.00 target price (down previously from $37.00) on shares of Progyny in a report on Wednesday, August 7th. Barclays lowered their price target on shares of Progyny from $48.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, May 13th. Truist Financial reduced their price objective on shares of Progyny from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Progyny from $41.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Progyny currently has a consensus rating of “Hold” and a consensus target price of $31.90.

Progyny Stock Up 3.7 %

PGNY traded up $0.78 on Friday, reaching $21.80. The company had a trading volume of 937,173 shares, compared to its average volume of 1,057,578. The stock has a 50-day moving average price of $26.03 and a 200-day moving average price of $30.91. The stock has a market capitalization of $1.97 billion, a PE ratio of 35.74, a P/E/G ratio of 1.73 and a beta of 1.46. Progyny, Inc. has a 1 year low of $19.60 and a 1 year high of $42.08.

Progyny (NASDAQ:PGNY) last posted its earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $304.09 million during the quarter, compared to the consensus estimate of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 EPS. As a group, analysts expect that Progyny, Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Cheryl Scott sold 1,462 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the completion of the sale, the director now owns 10,098 shares in the company, valued at approximately $286,682.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, President Michael E. Sturmer sold 9,030 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total transaction of $270,900.00. Following the transaction, the president now owns 362,583 shares of the company’s stock, valued at $10,877,490. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Cheryl Scott sold 1,462 shares of the company’s 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 sale, the director now directly owns 10,098 shares of the company’s stock, valued at $286,682.22. The disclosure for this sale can be found here. Corporate 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.