Progyny, Inc. (NASDAQ:PGNY) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 540,072 shares of the company’s stock after selling 54,551 shares during the period. Bank of New York Mellon Corp owned approximately 0.63% of Progyny worth $9,316,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of Progyny by 47.5% in the fourth quarter. Pacer Advisors Inc. now owns 3,676,200 shares of the company’s stock valued at $63,414,000 after acquiring an additional 1,183,558 shares in the last quarter. State Street Corp raised its stake in shares of Progyny by 4.5% in the third quarter. State Street Corp now owns 3,113,654 shares of the company’s stock valued at $52,185,000 after acquiring an additional 134,861 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of Progyny in the third quarter valued at $29,509,000. Fort Washington Investment Advisors Inc. OH raised its stake in Progyny by 90.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock valued at $25,319,000 after buying an additional 695,740 shares in the last quarter. Finally, Baillie Gifford & Co. raised its stake in Progyny by 52.2% in the fourth quarter. Baillie Gifford & Co. now owns 1,332,690 shares of the company’s stock valued at $22,989,000 after buying an additional 456,853 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PGNY. Bank of America raised their price target on Progyny from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Canaccord Genuity Group raised their price target on Progyny from $17.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. raised their price target on Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Progyny presently has a consensus rating of “Hold” and a consensus price target of $24.82.

Insider Activity

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

Progyny Stock Performance

Shares of PGNY stock opened at $20.36 on Friday. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $38.98. The stock has a fifty day moving average of $21.58 and a two-hundred day moving average of $18.66. The firm has a market capitalization of $1.74 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 2.39 and a beta of 1.41.

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.