Nordea Investment Management AB Has $3.18 Million Holdings in Progyny, Inc. (NASDAQ:PGNY)

Nordea Investment Management AB grew its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 185,042 shares of the company’s stock after acquiring an additional 10,203 shares during the quarter. Nordea Investment Management AB owned 0.22% of Progyny worth $3,175,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PGNY. Quarry LP lifted its stake in Progyny by 1,900.0% in the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after purchasing an additional 836 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Progyny during the 2nd quarter worth $44,000. GAMMA Investing LLC increased its holdings in Progyny by 341.4% in the 4th quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock worth $28,000 after purchasing an additional 1,246 shares in the last quarter. Mendota Financial Group LLC bought a new position in Progyny in the third quarter valued at about $56,000. Finally, Meeder Asset Management Inc. bought a new position in Progyny in the third quarter valued at about $77,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on PGNY. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Progyny in a research note on Tuesday, October 1st. JMP Securities cut shares of Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 price target (down previously from $22.00) on shares of Progyny in a report on Monday, December 2nd. Truist Financial restated a “hold” rating and issued a $19.00 price objective (down from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Finally, Jefferies Financial Group cut their target price on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $25.00.

Progyny Stock Performance

Progyny stock opened at $18.76 on Friday. The stock’s 50 day moving average price is $15.57 and its two-hundred day moving average price is $19.95. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.64 and a beta of 1.31. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $42.08.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The firm had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that Progyny, Inc. will post 0.59 EPS for the current year.

Insider Activity

In other news, CEO Peter Anevski purchased 209,500 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $14.48 per share, with a total value of $3,033,560.00. Following the completion of the transaction, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at approximately $6,392,384.24. This trade represents a 90.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman David J. Schlanger acquired 150,000 shares of Progyny stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $14.68 per share, with a total value of $2,202,000.00. Following the completion of the transaction, the chairman now directly owns 228,269 shares in the company, valued at $3,350,988.92. This represents a 191.65 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 12.30% of the company’s stock.

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.