Progyny, Inc. (NASDAQ:PGNY) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its position in Progyny, Inc. (NASDAQ:PGNY) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,424,601 shares of the company’s stock after selling 72,433 shares during the quarter. Clearbridge Investments LLC’s holdings in Progyny were worth $97,978,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PGNY. Quarry LP increased its position in Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after purchasing an additional 836 shares during the period. TFC Financial Management Inc. acquired a new stake in Progyny in the first quarter valued at $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Progyny during the 2nd quarter worth $44,000. Financial Management Professionals Inc. acquired a new position in shares of Progyny during the 1st quarter worth $52,000. Finally, Cambridge Trust Co. purchased a new position in shares of Progyny in the 1st quarter valued at about $95,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Progyny

In other Progyny news, President Michael E. Sturmer sold 9,030 shares of Progyny stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total value of $270,900.00. Following 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 SEC, which can be accessed through the SEC website. 12.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PGNY has been the subject of a number of research analyst reports. Canaccord Genuity Group dropped their target price on shares of Progyny from $24.00 to $18.00 and set a “hold” rating for the company in a report on Friday, September 20th. Truist Financial decreased their target price on Progyny from $33.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. BTIG Research lowered shares of Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 target price on shares of Progyny in a report on Tuesday. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.73.

Progyny Stock Up 0.9 %

Shares of Progyny stock opened at $16.33 on Thursday. The firm has a market cap of $1.47 billion, a PE ratio of 26.77, a P/E/G ratio of 1.58 and a beta of 1.45. Progyny, Inc. has a fifty-two week low of $13.93 and a fifty-two week high of $42.08. The business’s fifty day moving average is $22.20 and its two-hundred day moving average is $27.57.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The firm had revenue of $304.09 million for the quarter, compared to analyst estimates of $305.32 million. During the same period last year, the company earned $0.15 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts anticipate that Progyny, Inc. will post 0.64 EPS for the current 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.