27,523 Shares in Progyny, Inc. (NASDAQ:PGNY) Purchased by Trexquant Investment LP

Posted by Defense World Staff on Mar 14th, 2023

Trexquant Investment LP bought a new position in shares of Progyny, Inc. (NASDAQ:PGNY – Get Rating) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 27,523 shares of the company’s stock, valued at approximately $1,020,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System grew its holdings in Progyny by 2.0% during the third quarter. Arizona State Retirement System now owns 19,989 shares of the company’s stock worth $741,000 after acquiring an additional 384 shares during the period. Bessemer Group Inc. grew its holdings in Progyny by 7.3% during the third quarter. Bessemer Group Inc. now owns 92,195 shares of the company’s stock worth $3,416,000 after acquiring an additional 6,258 shares during the period. Barclays PLC grew its holdings in Progyny by 321.4% in the third quarter. Barclays PLC now owns 15,819 shares of the company’s stock valued at $586,000 after purchasing an additional 12,065 shares during the period. Natixis acquired a new stake in Progyny in the second quarter valued at approximately $587,000. Finally, Boothbay Fund Management LLC acquired a new stake in Progyny in the third quarter valued at approximately $212,000. 86.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Peter Anevski sold 735 shares of Progyny stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $35.00, for a total value 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 $7,808,255. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman David J. Schlanger sold 100,000 shares of the business’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $35.54, for a total transaction of $3,554,000.00. Following the completion of the transaction, the chairman now directly owns 76,168 shares of the company’s stock, valued at approximately $2,707,010.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Anevski sold 735 shares of the business’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $35.00, for a total value of $25,725.00. Following the transaction, the chief executive officer now directly owns 223,093 shares of the company’s stock, valued at $7,808,255. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 222,433 shares of company stock valued at $7,945,078. 14.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Progyny Stock Up 2.7 %

NASDAQ:PGNY opened at $31.37 on Tuesday. Progyny, Inc. has a 52 week low of $25.67 and a 52 week high of $53.10. The company has a market capitalization of $2.93 billion, a P/E ratio of 104.57 and a beta of 1.56. The stock’s fifty day moving average is $33.06 and its two-hundred day moving average is $35.64.

Progyny (NASDAQ:PGNY – Get Rating) last issued its quarterly earnings data on Monday, February 27th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Progyny had a return on equity of 9.24% and a net margin of 3.86%. The business had revenue of $214.32 million during the quarter, compared to analysts’ expectations of $211.78 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The company’s revenue was up 68.0% on a year-over-year basis. Sell-side analysts anticipate that Progyny, Inc. will post 0.27 earnings per share for the current fiscal year.

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.