Cubist Systematic Strategies LLC Invests $1.54 Million in Progyny, Inc. (NASDAQ:PGNY)

Cubist Systematic Strategies LLC bought a new position in shares of Progyny, Inc. (NASDAQ:PGNY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 53,973 shares of the company’s stock, valued at approximately $1,544,000. Cubist Systematic Strategies LLC owned approximately 0.06% of Progyny as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of PGNY. TFC Financial Management Inc. bought a new position in shares of Progyny in the first quarter worth $42,000. Financial Management Professionals Inc. bought a new position in shares of Progyny in the first quarter worth $52,000. Cambridge Trust Co. bought a new position in shares of Progyny in the first quarter worth $95,000. 1620 Investment Advisors Inc. bought a new position in shares of Progyny in the second quarter worth $97,000. Finally, Natixis Investment Managers International bought a new position in shares of Progyny in the first quarter worth $117,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Insider Buying and Selling at Progyny

In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was 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 $10,877,490. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 12.30% of the company’s stock.

Progyny Price Performance

Progyny stock opened at $16.18 on Wednesday. The stock’s 50 day moving average is $22.43 and its 200 day moving average is $27.65. The firm has a market cap of $1.54 billion, a P/E ratio of 26.52, 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 quarterly earnings data on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $304.09 million for the quarter, compared to analyst estimates of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 earnings per share. Equities analysts anticipate that Progyny, Inc. will post 0.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Truist Financial decreased their price target on Progyny from $33.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Leerink Partners decreased their target price on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, September 19th. Jefferies Financial Group decreased their target price on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. JPMorgan Chase & Co. decreased their target price on Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group cut Progyny from a “buy” rating to a “hold” rating and decreased their target price for the company from $37.00 to $24.00 in a research report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.