ProShare Advisors LLC Trims Stake in Progyny, Inc. $PGNY

ProShare Advisors LLC reduced its stake in Progyny, Inc. (NASDAQ:PGNY) by 12.3% during the second quarter, Holdings Channel.com reports. The firm owned 15,440 shares of the company’s stock after selling 2,164 shares during the quarter. ProShare Advisors LLC’s holdings in Progyny were worth $340,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC increased its position in Progyny by 101.5% in the second quarter. Acadian Asset Management LLC now owns 414,486 shares of the company’s stock worth $9,110,000 after buying an additional 208,836 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Progyny by 357.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 116,138 shares of the company’s stock valued at $2,555,000 after acquiring an additional 90,775 shares during the period. Cetera Trust Company N.A increased its holdings in Progyny by 303.1% in the 2nd quarter. Cetera Trust Company N.A now owns 1,310 shares of the company’s stock worth $29,000 after acquiring an additional 985 shares in the last quarter. Corton Capital Inc. bought a new stake in Progyny during the 2nd quarter worth approximately $263,000. Finally, Yorktown Management & Research Co Inc purchased a new position in Progyny during the second quarter valued at approximately $253,000. Institutional investors own 94.93% of the company’s stock.

Progyny Stock Up 4.1%

PGNY opened at $25.86 on Friday. The company has a market capitalization of $2.23 billion, a PE ratio of 41.05, a price-to-earnings-growth ratio of 1.95 and a beta of 1.29. The firm has a 50-day simple moving average of $21.28 and a two-hundred day simple moving average of $22.00. Progyny, Inc. has a 52 week low of $13.86 and a 52 week high of $27.25.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.06. Progyny had a return on equity of 10.71% and a net margin of 4.46%.The firm had revenue of $313.35 million for the quarter, compared to analysts’ expectations of $299.23 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The business’s revenue was up 9.3% compared to the same quarter last year. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS. Q4 2025 guidance at 0.370-0.400 EPS. As a group, sell-side analysts expect that Progyny, Inc. will post 0.6 earnings per share for the current year.

Insider Activity

In other news, CFO Mark S. Livingston sold 21,303 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $25.50, for a total transaction of $543,226.50. Following the completion of the transaction, the chief financial officer directly owned 48,358 shares in the company, valued at approximately $1,233,129. This represents a 30.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Anevski purchased 79,500 shares of Progyny stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average price of $24.29 per share, for a total transaction of $1,931,055.00. Following the transaction, the chief executive officer directly owned 680,251 shares of the company’s stock, valued at $16,523,296.79. The trade was a 13.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 26,698 shares of company stock worth $667,437. 9.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PGNY has been the subject of a number of analyst reports. Raymond James Financial set a $28.00 price objective on shares of Progyny in a research note on Friday, August 8th. Wall Street Zen upgraded Progyny from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Canaccord Genuity Group boosted their price objective on Progyny from $23.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, November 17th. KeyCorp raised Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research note on Tuesday, November 11th. Finally, JPMorgan Chase & Co. lifted their target price on Progyny from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Progyny currently has a consensus rating of “Moderate Buy” and an average target price of $27.33.

Progyny Company 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.