Progyny, Inc. (NASDAQ:PGNY) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP raised its holdings in Progyny, Inc. (NASDAQ:PGNY – Get Rating) by 61.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 253,361 shares of the company’s stock after purchasing an additional 96,859 shares during the period. Two Sigma Investments LP owned about 0.27% of Progyny worth $9,390,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PGNY. Thrivent Financial for Lutherans raised its position in shares of Progyny by 74.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,171,417 shares of the company’s stock valued at $63,080,000 after purchasing an additional 927,692 shares in the last quarter. Millennium Management LLC raised its position in shares of Progyny by 2,646.2% during the 2nd quarter. Millennium Management LLC now owns 632,257 shares of the company’s stock valued at $18,367,000 after acquiring an additional 609,234 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Progyny by 13.3% during the 2nd quarter. Clearbridge Investments LLC now owns 3,652,887 shares of the company’s stock valued at $106,116,000 after acquiring an additional 429,385 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Progyny by 64.1% during the 3rd quarter. Nuveen Asset Management LLC now owns 772,127 shares of the company’s stock valued at $28,615,000 after acquiring an additional 301,511 shares in the last quarter. Finally, Owls Nest Partners IA LLC raised its position in shares of Progyny by 33.5% during the 3rd quarter. Owls Nest Partners IA LLC now owns 970,288 shares of the company’s stock valued at $35,959,000 after acquiring an additional 243,442 shares in the last quarter. 86.12% of the stock is owned by institutional investors and hedge funds.

Progyny Price Performance

Shares of NASDAQ PGNY opened at $31.37 on Tuesday. Progyny, Inc. has a 1-year low of $25.67 and a 1-year high of $53.10. The business’s fifty day moving average price is $33.06 and its two-hundred day moving average price is $35.64. The firm has a market capitalization of $2.93 billion, a PE ratio of 104.57 and a beta of 1.56.

Progyny (NASDAQ:PGNY – Get Rating) last issued its earnings results on Monday, February 27th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. Progyny had a return on equity of 9.24% and a net margin of 3.86%. The firm had revenue of $214.32 million for the quarter, compared to analyst estimates of $211.78 million. During the same period last year, the company earned $0.15 earnings per share. The firm’s revenue for the quarter was up 68.0% on a year-over-year basis. Equities research analysts expect that Progyny, Inc. will post 0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. KeyCorp dropped their price target on Progyny from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, December 19th. SVB Leerink reissued a “market perform” rating and set a $34.00 price target (down from $59.00) on shares of Progyny in a research report on Thursday, January 5th. Finally, JPMorgan Chase & Co. dropped their target price on Progyny from $78.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 18th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.25.

Insider Activity at Progyny

In related news, Director Norman Payson sold 6,617 shares of the firm’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $31.65, for a total transaction of $209,428.05. Following the completion of the transaction, the director now owns 279,063 shares of the company’s stock, valued at $8,832,343.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Peter Anevski sold 735 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $35.00, for a total transaction of $25,725.00. Following the completion of the sale, the chief executive officer now directly owns 223,093 shares of the company’s stock, valued at approximately $7,808,255. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Norman Payson sold 6,617 shares of the firm’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $31.65, for a total value of $209,428.05. Following the sale, the director now directly owns 279,063 shares of the company’s stock, valued at $8,832,343.95. The disclosure for this sale can be found here. Insiders sold 222,433 shares of company stock valued at $7,945,078 over the last 90 days. 14.00% of the stock is currently owned by corporate insiders.

About Progyny

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Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions for employers 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.