Nordea Investment Management AB Acquires 69,552 Shares of Progyny, Inc. (NASDAQ:PGNY)

Nordea Investment Management AB increased its holdings in Progyny, Inc. (NASDAQ:PGNYFree Report) by 122.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,446 shares of the company’s stock after purchasing an additional 69,552 shares during the period. Nordea Investment Management AB owned approximately 0.13% of Progyny worth $4,891,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Mckinley Capital Management LLC bought a new stake in Progyny in the first quarter worth $1,365,000. Janney Montgomery Scott LLC bought a new stake in Progyny during the first quarter valued at about $213,000. Oak Ridge Investments LLC bought a new stake in Progyny during the first quarter valued at about $2,743,000. TFC Financial Management Inc. bought a new stake in Progyny during the first quarter valued at about $42,000. Finally, Norden Group LLC bought a new stake in Progyny during the first quarter valued at about $566,000. 94.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, President Michael E. Sturmer sold 4,515 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $31.95, for a total transaction of $144,254.25. Following the sale, the president now directly owns 380,038 shares of the company’s stock, valued at $12,142,214.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Progyny news, President Michael E. Sturmer sold 4,515 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $31.95, for a total value of $144,254.25. Following the transaction, the president now directly owns 380,038 shares of the company’s stock, valued at $12,142,214.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Cheryl Scott sold 1,462 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $28.39, for a total transaction of $41,506.18. Following the completion of the sale, the director now owns 10,098 shares in the company, valued at $286,682.22. The disclosure for this sale can be found here. 12.30% of the stock is owned by insiders.

Progyny Stock Down 0.3 %

NASDAQ:PGNY opened at $28.16 on Wednesday. Progyny, Inc. has a 12-month low of $23.90 and a 12-month high of $44.95. The firm has a market capitalization of $2.68 billion, a PE ratio of 46.16, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46. The firm has a 50-day moving average price of $28.03 and a 200 day moving average price of $33.79.

Progyny (NASDAQ:PGNYGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. The firm had revenue of $278.08 million for the quarter, compared to analysts’ expectations of $289.41 million. Progyny had a net margin of 5.53% and a return on equity of 11.61%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. On average, research analysts expect that Progyny, Inc. will post 0.73 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on PGNY. Truist Financial decreased their price target on shares of Progyny from $46.00 to $37.00 and set a “buy” rating for the company in a report on Friday, May 17th. Barclays decreased their price target on shares of Progyny from $48.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, May 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Progyny in a research report on Thursday, May 16th. BTIG Research cut their price objective on shares of Progyny from $50.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, KeyCorp lowered shares of Progyny from an “overweight” rating to a “sector weight” rating in a research report on Friday, May 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.11.

Get Our Latest Stock Analysis on Progyny

About Progyny

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding PGNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progyny, Inc. (NASDAQ:PGNYFree Report).

Institutional Ownership by Quarter for Progyny (NASDAQ:PGNY)

Receive News & Ratings for Progyny Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progyny and related companies with MarketBeat.com's FREE daily email newsletter.