Sumitomo Mitsui DS Asset Management Company Ltd Cuts Holdings in Progyny, Inc. (NASDAQ:PGNY)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 12.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,685 shares of the company’s stock after selling 1,593 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Progyny were worth $334,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB raised its stake in shares of Progyny by 122.2% during the 1st quarter. Nordea Investment Management AB now owns 126,446 shares of the company’s stock worth $4,891,000 after buying an additional 69,552 shares during the period. Vitruvian Partners LLP purchased a new position in Progyny during the fourth quarter valued at $2,957,000. Jennison Associates LLC grew its position in shares of Progyny by 2.7% in the first quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock valued at $99,054,000 after purchasing an additional 67,632 shares during the period. M&G Plc purchased a new stake in shares of Progyny during the first quarter worth about $1,156,000. Finally, Neuberger Berman Group LLC increased its stake in shares of Progyny by 13.6% during the fourth quarter. Neuberger Berman Group LLC now owns 274,409 shares of the company’s stock worth $10,203,000 after purchasing an additional 32,871 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Stock Up 6.0 %

NASDAQ:PGNY opened at $23.49 on Monday. Progyny, Inc. has a 52 week low of $19.60 and a 52 week high of $42.08. The stock’s fifty day moving average is $25.65 and its two-hundred day moving average is $30.20. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 38.51, a price-to-earnings-growth ratio of 1.90 and a beta of 1.46.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The firm had revenue of $304.09 million for the quarter, compared to the consensus estimate of $305.32 million. During the same quarter in the previous year, the business earned $0.15 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts expect that Progyny, Inc. will post 0.64 EPS for the current fiscal year.

Analyst Ratings Changes

PGNY has been the topic of a number of analyst reports. JMP Securities reduced their price objective on Progyny from $36.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. KeyCorp cut shares of Progyny from an “overweight” rating to a “sector weight” rating in a research report on Friday, May 10th. Canaccord Genuity Group lowered shares of 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 report on Wednesday, August 7th. Leerink Partnrs cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $37.00 price target on shares of Progyny in a report on Tuesday, August 20th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.90.

Insider Transactions at Progyny

In related news, Director Cheryl Scott sold 1,462 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the sale, the director now directly owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Cheryl Scott sold 1,462 shares of the business’s 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 transaction, the director now directly owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael E. Sturmer sold 9,030 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total value of $270,900.00. Following the sale, the president now owns 362,583 shares in the company, valued at approximately $10,877,490. The disclosure for this sale can be found here. Corporate insiders own 12.30% of the company’s stock.

About Progyny

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.