Wellington Management Group LLP Decreases Stake in Progyny, Inc. (NASDAQ:PGNY)

Wellington Management Group LLP reduced its holdings in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 394,129 shares of the company's stock after selling 36,171 shares during the period. Wellington Management Group LLP owned approximately 0.46% of Progyny worth $6,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Progyny by 4.5% in the 3rd quarter. State Street Corp now owns 3,113,654 shares of the company's stock valued at $52,185,000 after acquiring an additional 134,861 shares during the period. Wolverine Trading LLC increased its holdings in shares of Progyny by 131.5% in the third quarter. Wolverine Trading LLC now owns 19,677 shares of the company's stock valued at $331,000 after purchasing an additional 11,177 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Progyny in the third quarter worth about $469,000. Barclays PLC lifted its holdings in shares of Progyny by 530.4% during the third quarter. Barclays PLC now owns 706,157 shares of the company's stock worth $11,835,000 after purchasing an additional 594,140 shares during the period. Finally, Tidal Investments LLC raised its position in Progyny by 67.7% during the 3rd quarter. Tidal Investments LLC now owns 60,722 shares of the company's stock worth $1,018,000 after buying an additional 24,507 shares during the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

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Progyny Price Performance

PGNY stock traded down $0.23 during trading on Tuesday, hitting $21.85. The stock had a trading volume of 393,064 shares, compared to its average volume of 1,726,722. The company's 50-day moving average price is $21.99 and its two-hundred day moving average price is $18.74. Progyny, Inc. has a twelve month low of $13.39 and a twelve month high of $34.40. The stock has a market capitalization of $1.87 billion, a P/E ratio of 37.67, a PEG ratio of 2.39 and a beta of 1.33.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PGNY. BTIG Research upgraded shares of Progyny from a "neutral" rating to a "buy" rating and set a $28.00 target price for the company in a research report on Monday, March 31st. JPMorgan Chase & Co. boosted their price target on Progyny from $17.00 to $23.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Canaccord Genuity Group raised their price objective on shares of Progyny from $17.00 to $23.00 and gave the stock a "hold" rating in a research note on Friday, February 28th. Finally, Bank of America boosted their target price on shares of Progyny from $21.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $23.64.

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.