Clearbridge Investments LLC Has $97.98 Million Stake in Progyny, Inc. (NASDAQ:PGNY)

Clearbridge Investments LLC reduced its stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,424,601 shares of the company's stock after selling 72,433 shares during the quarter. Clearbridge Investments LLC owned 3.60% of Progyny worth $97,978,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PGNY. Quarry LP grew its stake in Progyny by 1,900.0% in the 2nd quarter. Quarry LP now owns 880 shares of the company's stock valued at $25,000 after buying an additional 836 shares during the last quarter. TFC Financial Management Inc. bought a new stake in Progyny in the 1st quarter valued at about $42,000. Financial Management Professionals Inc. bought a new stake in Progyny in the 1st quarter valued at about $52,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Progyny in the 2nd quarter valued at about $44,000. Finally, Cambridge Trust Co. bought a new stake in shares of Progyny during the 1st quarter worth approximately $95,000. 94.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PGNY shares. BTIG Research downgraded shares of Progyny from a "buy" rating to a "neutral" rating in a report on Wednesday, August 7th. Jefferies Financial Group cut their price target on shares of Progyny from $31.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, September 19th. Leerink Partners cut their price target on shares of Progyny from $25.00 to $21.00 and set a "market perform" rating for the company in a report on Thursday, September 19th. JPMorgan Chase & Co. dropped their price objective on shares of Progyny from $31.00 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group cut their target price on shares of Progyny from $24.00 to $18.00 and set a "hold" rating on the stock in a research report on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $27.73.

Progyny Trading Down 3.1 %

NASDAQ:PGNY traded down $0.51 during trading hours on Thursday, hitting $15.82. 1,423,671 shares of the company were exchanged, compared to its average volume of 1,334,458. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 1.58 and a beta of 1.45. Progyny, Inc. has a one year low of $13.93 and a one year high of $42.08. The company has a fifty day simple moving average of $22.20 and a 200 day simple moving average of $27.57.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share for the quarter, hitting 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 during the quarter, compared to analyst estimates of $305.32 million. During the same period last year, the company posted $0.15 EPS. The business's quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts predict that Progyny, Inc. will post 0.64 earnings per share for the current fiscal year.

Insider Activity

In other news, President Michael E. Sturmer sold 9,030 shares of the firm'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 completion of the sale, the president now directly owns 362,583 shares in the company, valued at approximately $10,877,490. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 12.30% of the stock is currently owned by company insiders.

Progyny Profile

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.