Credit Suisse AG Has $3.15 Million Stock Position in Progyny, Inc. (NASDAQ:PGNY)

Credit Suisse AG grew its position in Progyny, Inc. (NASDAQ:PGNY) by 10.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 97,961 shares of the company’s stock after buying an additional 8,923 shares during the period. Credit Suisse AG owned approximately 0.10% of Progyny worth $3,147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PGNY. Vanguard Group Inc. boosted its stake in Progyny by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,852,362 shares of the company’s stock worth $253,949,000 after purchasing an additional 140,947 shares during the period. Clearbridge Investments LLC boosted its stake in Progyny by 4.5% in the 4th quarter. Clearbridge Investments LLC now owns 3,988,716 shares of the company’s stock worth $124,249,000 after purchasing an additional 170,351 shares during the period. Thrivent Financial for Lutherans boosted its stake in Progyny by 3.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,592,788 shares of the company’s stock worth $80,766,000 after purchasing an additional 85,929 shares during the period. American Century Companies Inc. boosted its stake in Progyny by 3.6% in the 4th quarter. American Century Companies Inc. now owns 2,540,195 shares of the company’s stock worth $79,127,000 after purchasing an additional 87,280 shares during the period. Finally, Jennison Associates LLC boosted its stake in Progyny by 40.2% in the 4th quarter. Jennison Associates LLC now owns 2,530,967 shares of the company’s stock worth $78,840,000 after purchasing an additional 725,232 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

Insider Activity

In other news, Chairman David J. Schlanger sold 41,666 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $40.00, for a total value of $1,666,640.00. Following the sale, the chairman now directly owns 73,487 shares of the company’s stock, valued at approximately $2,939,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Chairman David J. Schlanger sold 41,666 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $40.00, for a total value of $1,666,640.00. Following the transaction, the chairman now owns 73,487 shares in the company, valued at approximately $2,939,480. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Tpg Gp A, Llc sold 2,900,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $41.08, for a total transaction of $119,132,000.00. Following the completion of the transaction, the insider now owns 6,350,000 shares in the company, valued at approximately $260,858,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,070,818 shares of company stock valued at $125,859,275. 14.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BTIG Research assumed coverage on shares of Progyny in a research note on Monday, May 22nd. They issued a “buy” rating and a $50.00 target price for the company. Bank of America boosted their price target on shares of Progyny from $48.00 to $50.00 in a research report on Tuesday, May 9th. Truist Financial boosted their price target on shares of Progyny from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. KeyCorp boosted their price target on shares of Progyny from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Finally, Cantor Fitzgerald boosted their price target on shares of Progyny from $44.00 to $45.00 in a research report on Tuesday, May 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

Progyny Stock Performance

Shares of PGNY stock opened at $37.37 on Friday. The firm’s 50-day moving average is $38.81 and its 200-day moving average is $36.31. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 76.27, a PEG ratio of 1.64 and a beta of 1.49. Progyny, Inc. has a 52-week low of $28.03 and a 52-week high of $45.98.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, August 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $279.40 million for the quarter, compared to analysts’ expectations of $261.91 million. Progyny had a net margin of 5.15% and a return on equity of 12.19%. Progyny’s quarterly revenue was up 43.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 EPS. Sell-side analysts predict that Progyny, Inc. will post 0.54 EPS for the current fiscal year.

Progyny Company Profile

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.