Natixis Advisors LLC Lowers Stock Position in Progyny, Inc. (NASDAQ:PGNY)

Natixis Advisors LLC trimmed its position in Progyny, Inc. (NASDAQ:PGNY) by 23.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,016 shares of the company’s stock after selling 8,679 shares during the quarter. Natixis Advisors LLC’s holdings in Progyny were worth $802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caprock Group LLC boosted its stake in shares of Progyny by 5.3% in the first quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock worth $240,000 after acquiring an additional 319 shares during the period. M&G Investment Management Ltd. grew its holdings in Progyny by 1.2% during the 4th quarter. M&G Investment Management Ltd. now owns 32,980 shares of the company’s stock valued at $1,220,000 after buying an additional 387 shares in the last quarter. RiverPark Advisors LLC raised its position in shares of Progyny by 9.6% during the second quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock valued at $155,000 after buying an additional 474 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of Progyny by 2.5% in the first quarter. State of Michigan Retirement System now owns 20,479 shares of the company’s stock worth $781,000 after buying an additional 500 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Progyny by 9.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock worth $239,000 after acquiring an additional 543 shares during the last quarter. Institutional investors own 94.93% of the company’s stock.

Insider Buying and Selling at Progyny

In related news, Director Cheryl Scott sold 1,462 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was 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 directly owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Cheryl Scott sold 1,462 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $28.39, for a total value of $41,506.18. Following the transaction, the director now directly owns 10,098 shares in the company, valued at $286,682.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Michael E. Sturmer sold 9,030 shares of Progyny stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total transaction of $270,900.00. Following the sale, the president now owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The disclosure for this sale can be found here. Company insiders own 12.30% of the company’s stock.

Wall Street Analyst Weigh In

PGNY has been the topic of a number of research reports. BTIG Research downgraded shares of Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Truist Financial reduced their target price on Progyny from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Leerink Partners downgraded Progyny from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $31.00 to $25.00 in a research report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $37.00 price target on shares of Progyny in a report on Tuesday, August 20th. Finally, Leerink Partnrs cut Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.90.

Progyny Stock Performance

NASDAQ:PGNY opened at $23.25 on Friday. The firm has a market capitalization of $2.10 billion, a PE ratio of 38.11, a PEG ratio of 1.88 and a beta of 1.45. The stock’s fifty day moving average is $24.85 and its 200 day moving average is $29.29. Progyny, Inc. has a fifty-two week low of $19.60 and a fifty-two week high of $42.08.

Progyny (NASDAQ:PGNY) last announced 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. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The business had revenue of $304.09 million for the quarter, compared to the consensus estimate of $305.32 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts forecast that Progyny, Inc. will post 0.64 EPS for the current year.

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.