Progyny, Inc. (NASDAQ:PGNY) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 20.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,553 shares of the company’s stock after selling 3,793 shares during the period. ProShare Advisors LLC’s holdings in Progyny were worth $416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PGNY. Pacer Advisors Inc. raised its stake in shares of Progyny by 9.8% during the 2nd quarter. Pacer Advisors Inc. now owns 19,659 shares of the company’s stock valued at $562,000 after buying an additional 1,755 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Progyny in the second quarter worth about $315,000. Seven Eight Capital LP acquired a new stake in Progyny during the second quarter worth about $252,000. Hsbc Holdings PLC raised its position in Progyny by 703.9% during the second quarter. Hsbc Holdings PLC now owns 46,475 shares of the company’s stock valued at $1,328,000 after acquiring an additional 40,694 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Progyny in the second quarter valued at approximately $1,145,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the firm’s stock in a transaction that occurred 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 directly owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.30% of the stock is currently owned by company insiders.

Progyny Price Performance

Shares of Progyny stock opened at $16.18 on Wednesday. The stock has a market capitalization of $1.54 billion, a P/E ratio of 26.52, a PEG ratio of 1.62 and a beta of 1.45. The business has a 50 day simple moving average of $22.43 and a two-hundred day simple moving average of $27.65. Progyny, Inc. has a 12 month low of $13.93 and a 12 month high of $42.08.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share 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 analyst estimates of $305.32 million. During the same quarter last year, the firm posted $0.15 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts anticipate that Progyny, Inc. will post 0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PGNY has been the topic of a number of analyst reports. Jefferies Financial Group dropped their price objective on shares of Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. BTIG Research cut shares of Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Truist Financial lowered their target price on shares of Progyny from $33.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 target price on shares of Progyny in a research report on Tuesday. Finally, Leerink Partners reduced their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, September 19th. Seven equities research analysts have rated the stock with a hold rating and five have given 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 price target of $27.73.

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.