Jennison Associates LLC Has $94.02 Million Holdings in Progyny, Inc. (NASDAQ:PGNY)

Jennison Associates LLC trimmed its stake in Progyny, Inc. (NASDAQ:PGNY) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,528,790 shares of the company’s stock after selling 177,664 shares during the period. Jennison Associates LLC owned about 2.64% of Progyny worth $94,020,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PGNY. RiverPark Advisors LLC raised its holdings in Progyny by 54.0% in the 4th quarter. RiverPark Advisors LLC now owns 1,067 shares of the company’s stock valued at $40,000 after acquiring an additional 374 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Progyny in the third quarter valued at $53,000. CWM LLC lifted its position in Progyny by 16.1% in the third quarter. CWM LLC now owns 3,490 shares of the company’s stock worth $119,000 after purchasing an additional 483 shares during the period. Cetera Trust Company N.A acquired a new stake in Progyny during the fourth quarter worth $183,000. Finally, Duality Advisers LP acquired a new stake in Progyny during the third quarter worth $202,000. Institutional investors own 94.93% of the company’s stock.

Progyny Stock Performance

Progyny stock opened at $33.06 on Tuesday. The business’s fifty day moving average is $36.51 and its two-hundred day moving average is $35.68. The firm has a market cap of $3.18 billion, a P/E ratio of 53.32, a P/E/G ratio of 1.35 and a beta of 1.48. Progyny, Inc. has a 52 week low of $29.44 and a 52 week high of $44.95.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The business had revenue of $269.94 million during the quarter, compared to analysts’ expectations of $274.08 million. During the same period in the previous year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, equities research analysts predict that Progyny, Inc. will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

PGNY has been the subject of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $48.00 price objective on shares of Progyny in a research note on Wednesday, February 28th. KeyCorp dropped their target price on Progyny from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Truist Financial restated a “buy” rating and set a $46.00 target price on shares of Progyny in a research report on Wednesday, April 17th. SVB Leerink started coverage on Progyny in a research report on Monday, February 26th. They issued an “outperform” rating and a $49.00 price target on the stock. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Progyny in a report on Monday, February 26th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $48.30.

Insider Transactions at Progyny

In related news, Chairman David J. Schlanger sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.52, for a total value of $37,520.00. Following the completion of the sale, the chairman now owns 83,631 shares of the company’s stock, valued at $3,137,835.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Chairman David J. Schlanger sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.52, for a total value of $37,520.00. Following the transaction, the chairman now owns 83,631 shares in the company, valued at $3,137,835.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Michael E. Sturmer sold 2,260 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $40.00, for a total value of $90,400.00. Following the sale, the president now directly owns 158,532 shares of the company’s stock, valued at $6,341,280. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,515 shares of company stock worth $4,570,131. 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.