Progyny, Inc. $PGNY Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in shares of Progyny, Inc. (NASDAQ:PGNY) by 18.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,416 shares of the company’s stock after selling 41,460 shares during the period. Envestnet Asset Management Inc. owned 0.21% of Progyny worth $3,969,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Allianz Asset Management GmbH acquired a new position in shares of Progyny during the 3rd quarter worth about $437,000. State of Wyoming increased its stake in Progyny by 4.2% during the 3rd quarter. State of Wyoming now owns 23,751 shares of the company’s stock worth $511,000 after buying an additional 958 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Progyny by 57.1% during the third quarter. Principal Financial Group Inc. now owns 704,267 shares of the company’s stock valued at $15,156,000 after acquiring an additional 256,078 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of Progyny during the third quarter valued at approximately $782,000. Finally, Arizona State Retirement System lifted its position in shares of Progyny by 13.4% in the third quarter. Arizona State Retirement System now owns 24,075 shares of the company’s stock valued at $518,000 after acquiring an additional 2,842 shares in the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PGNY. JPMorgan Chase & Co. set a $35.00 price target on Progyny in a research report on Wednesday, January 21st. BTIG Research reaffirmed a “buy” rating on shares of Progyny in a research note on Wednesday, January 21st. Barclays assumed coverage on shares of Progyny in a report on Monday, December 8th. They set an “overweight” rating and a $29.00 target price for the company. Truist Financial raised shares of Progyny from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Thursday, January 8th. Finally, Zacks Research lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Progyny presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.80.

Progyny Stock Performance

NASDAQ:PGNY opened at $20.78 on Wednesday. Progyny, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $28.75. The company has a 50 day moving average price of $24.26 and a 200 day moving average price of $23.15. The stock has a market capitalization of $1.79 billion, a P/E ratio of 32.98, a PEG ratio of 1.35 and a beta of 0.96.

Progyny Company Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.