Progyny, Inc. $PGNY Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 18.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,416 shares of the company’s stock after selling 41,460 shares during the period. Envestnet Asset Management Inc.’s holdings in Progyny were worth $3,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PGNY. Ameriprise Financial Inc. grew its holdings in shares of Progyny by 37.6% in the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock valued at $43,933,000 after purchasing an additional 545,431 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in Progyny by 33.1% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,656,558 shares of the company’s stock valued at $35,649,000 after buying an additional 412,395 shares during the period. Principal Financial Group Inc. boosted its position in Progyny by 57.1% in the 3rd quarter. Principal Financial Group Inc. now owns 704,267 shares of the company’s stock valued at $15,156,000 after buying an additional 256,078 shares during the period. Bank of America Corp DE grew its stake in shares of Progyny by 4.3% in the second quarter. Bank of America Corp DE now owns 684,133 shares of the company’s stock worth $15,051,000 after acquiring an additional 28,151 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Progyny during the second quarter worth $10,525,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

PGNY has been the topic of several analyst reports. Citigroup upgraded Progyny to an “outperform” rating in a research note on Tuesday, January 20th. KeyCorp increased their price target on Progyny from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Canaccord Genuity Group lifted their price objective on Progyny from $23.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, November 17th. Wall Street Zen upgraded shares of Progyny from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Finally, Barclays initiated coverage on shares of Progyny in a report on Monday, December 8th. They issued an “overweight” rating and a $29.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.80.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $20.78 on Wednesday. The stock’s 50-day simple moving average is $24.26 and its 200-day simple moving average is $23.15. The firm has a market capitalization of $1.79 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 1.35 and a beta of 0.96. Progyny, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $28.75.

Progyny Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.