Envestnet Asset Management Inc. Raises Stake in Progyny Inc (NASDAQ:PGNY)

Envestnet Asset Management Inc. boosted its holdings in shares of Progyny Inc (NASDAQ:PGNY) by 74.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 25,721 shares of the company’s stock after purchasing an additional 11,005 shares during the period. Envestnet Asset Management Inc.’s holdings in Progyny were worth $664,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Clearbridge Investments LLC grew its position in Progyny by 12.5% during the 1st quarter. Clearbridge Investments LLC now owns 1,619,494 shares of the company’s stock worth $34,317,000 after purchasing an additional 180,432 shares during the last quarter. Nuveen Asset Management LLC grew its position in Progyny by 392.4% during the 1st quarter. Nuveen Asset Management LLC now owns 146,181 shares of the company’s stock worth $3,098,000 after purchasing an additional 116,493 shares during the last quarter. State Street Corp grew its position in Progyny by 36.1% during the 1st quarter. State Street Corp now owns 196,213 shares of the company’s stock worth $4,158,000 after purchasing an additional 52,011 shares during the last quarter. Alliancebernstein L.P. purchased a new position in Progyny during the 1st quarter worth $574,000. Finally, Victory Capital Management Inc. grew its position in Progyny by 242.4% during the 1st quarter. Victory Capital Management Inc. now owns 6,118 shares of the company’s stock worth $130,000 after purchasing an additional 4,331 shares during the last quarter. 38.04% of the stock is currently owned by institutional investors.

Shares of NASDAQ PGNY opened at $26.63 on Friday. Progyny Inc has a 52 week low of $13.29 and a 52 week high of $36.50. The firm has a 50-day moving average price of $25.34 and a 200 day moving average price of $25.30. The stock has a market capitalization of $2.27 billion and a price-to-earnings ratio of 242.05.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. The company had revenue of $81.02 million during the quarter, compared to analyst estimates of $71.81 million. The company’s revenue for the quarter was up 71.7% compared to the same quarter last year. Research analysts forecast that Progyny Inc will post 0.17 earnings per share for the current fiscal year.

In other Progyny news, major shareholder Group Holdings (Sbs) Advis Tpg sold 67,304 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $22.70, for a total transaction of $1,527,800.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Anevski sold 4,444 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $27.70, for a total transaction of $123,098.80. Following the transaction, the insider now owns 1,470,579 shares of the company’s stock, valued at $40,735,038.30. The disclosure for this sale can be found here. Insiders sold 5,439,365 shares of company stock valued at $139,123,761 in the last quarter. Company insiders own 33.30% of the company’s stock.

Several research analysts have issued reports on the stock. SVB Leerink started coverage on shares of Progyny in a research report on Wednesday, July 1st. They set an “outperform” rating and a $35.00 price objective on the stock. Bank of America raised their target price on shares of Progyny from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Citigroup reduced their target price on shares of Progyny from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Guggenheim started coverage on shares of Progyny in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $30.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Progyny from a “sell” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Progyny presently has a consensus rating of “Buy” and an average price target of $29.63.

Progyny 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.

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Institutional Ownership by Quarter for Progyny (NASDAQ:PGNY)

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