Renaissance Technologies LLC Sells 144,200 Shares of Progyny, Inc. (NASDAQ:PGNY)

Renaissance Technologies LLC lessened its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 48.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 154,100 shares of the company’s stock after selling 144,200 shares during the period. Renaissance Technologies LLC’s holdings in Progyny were worth $4,409,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Farallon Capital Management LLC bought a new stake in shares of Progyny during the first quarter valued at approximately $22,608,000. Wellington Management Group LLP bought a new position in shares of Progyny during the 4th quarter valued at $14,608,000. Norges Bank purchased a new position in shares of Progyny in the 4th quarter worth $14,198,000. Eagle Asset Management Inc. grew its holdings in shares of Progyny by 102.7% in the fourth quarter. Eagle Asset Management Inc. now owns 649,897 shares of the company’s stock worth $24,163,000 after acquiring an additional 329,288 shares during the period. Finally, Redmile Group LLC bought a new position in Progyny in the first quarter valued at about $12,241,000. 94.93% of the stock is currently owned by institutional investors.

Progyny Stock Performance

NASDAQ:PGNY opened at $16.80 on Friday. The stock has a 50 day moving average price of $22.88 and a 200 day moving average price of $27.97. The stock has a market cap of $1.52 billion, a PE ratio of 27.54, a P/E/G ratio of 1.62 and a beta of 1.45. Progyny, Inc. has a one year low of $13.93 and a one year high of $42.08.

Progyny (NASDAQ:PGNY) last posted its earnings results on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The company had revenue of $304.09 million for the quarter, compared to the consensus estimate of $305.32 million. During the same quarter in the previous year, the business earned $0.15 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, analysts predict that Progyny, Inc. will post 0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Michael E. Sturmer sold 9,030 shares of Progyny stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total value of $270,900.00. Following the completion of the transaction, the president now owns 362,583 shares in the company, valued at approximately $10,877,490. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.30% of the company’s stock.

Analyst Upgrades and Downgrades

PGNY has been the topic of a number of recent analyst reports. Canaccord Genuity Group decreased their target price on shares of Progyny from $24.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Truist Financial lowered their price objective on Progyny from $33.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. JPMorgan Chase & Co. cut their target price on Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, September 19th. Leerink Partnrs downgraded Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, JMP Securities downgraded shares of Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.73.

About Progyny

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.