Progyny, Inc. (NASDAQ:PGNY) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in Progyny, Inc. (NASDAQ:PGNY) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,528,790 shares of the company’s stock after selling 177,664 shares during the period. Jennison Associates LLC’s holdings in Progyny were worth $94,020,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PGNY. Cetera Trust Company N.A acquired a new stake in shares of Progyny in the 4th quarter valued at about $183,000. Handelsbanken Fonder AB boosted its holdings in shares of Progyny by 40.0% in the fourth quarter. Handelsbanken Fonder AB now owns 14,000 shares of the company’s stock valued at $521,000 after acquiring an additional 4,000 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings in shares of Progyny by 29.7% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 686,064 shares of the company’s stock valued at $25,508,000 after acquiring an additional 156,910 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Progyny by 44.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,150 shares of the company’s stock valued at $675,000 after purchasing an additional 5,620 shares during the last quarter. Finally, Strs Ohio boosted its stake in Progyny by 85.3% during the 4th quarter. Strs Ohio now owns 18,900 shares of the company’s stock worth $702,000 after purchasing an additional 8,700 shares during the period. 94.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PGNY shares. Leerink Partnrs reissued an “outperform” rating on shares of Progyny in a report on Monday, February 26th. Barclays initiated coverage on Progyny in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $48.00 target price on the stock. KeyCorp decreased their price target on Progyny from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Truist Financial reiterated a “buy” rating and issued a $46.00 price objective on shares of Progyny in a research report on Wednesday, April 17th. Finally, SVB Leerink began coverage on shares of Progyny in a research report on Monday, February 26th. They set an “outperform” rating and a $49.00 price objective for the company. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Progyny presently has an average rating of “Buy” and a consensus price target of $48.30.

Insider Transactions at Progyny

In related news, Chairman David J. Schlanger sold 71,272 shares of the company’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 completion of the transaction, the chairman now owns 86,312 shares of the company’s stock, valued at $3,262,593.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 value of $2,694,081.60. Following the transaction, the chairman now owns 86,312 shares in the company, valued at $3,262,593.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman David J. Schlanger sold 20,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $38.50, for a total transaction of $770,000.00. Following the sale, the chairman now directly owns 86,312 shares of the company’s stock, valued at $3,323,012. The disclosure for this sale can be found here. Insiders have sold 120,515 shares of company stock worth $4,570,131 over the last quarter. 12.30% of the stock is currently owned by insiders.

Progyny Stock Performance

PGNY opened at $33.06 on Tuesday. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 53.32, a PEG ratio of 1.35 and a beta of 1.48. Progyny, Inc. has a one year low of $29.44 and a one year high of $44.95. The business’s fifty day moving average is $36.51 and its two-hundred day moving average is $35.68.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, topping 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 company had revenue of $269.94 million during the quarter, compared to analysts’ expectations of $274.08 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, analysts predict that Progyny, Inc. will post 0.7 EPS for the current fiscal year.

Progyny 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.