Louisiana State Employees Retirement System Decreases Stock Holdings in Progyny, Inc. (NASDAQ:PGNY)

Louisiana State Employees Retirement System decreased its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,800 shares of the company’s stock after selling 2,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Progyny were worth $618,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Entropy Technologies LP raised its stake in Progyny by 5.5% during the fourth quarter. Entropy Technologies LP now owns 47,883 shares of the company’s stock valued at $826,000 after purchasing an additional 2,499 shares in the last quarter. Caitlin John LLC increased its position in Progyny by 2,974.8% during the fourth quarter. Caitlin John LLC now owns 3,290 shares of the company’s stock valued at $57,000 after acquiring an additional 3,183 shares during the last quarter. Vanderbilt University bought a new position in Progyny during the fourth quarter valued at $254,000. Guidance Capital Inc. bought a new position in Progyny during the fourth quarter valued at $380,000. Finally, Pacer Advisors Inc. increased its position in Progyny by 47.5% during the fourth quarter. Pacer Advisors Inc. now owns 3,676,200 shares of the company’s stock valued at $63,414,000 after acquiring an additional 1,183,558 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Insider Activity

In other Progyny news, Chairman David J. Schlanger acquired 150,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the purchase, the chairman now owns 228,269 shares in the company, valued at approximately $3,350,988.92. This trade represents a 191.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Peter Anevski acquired 209,500 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $14.48 per share, for a total transaction of $3,033,560.00. Following the completion of the purchase, the chief executive officer now owns 441,463 shares of the company’s stock, valued at approximately $6,392,384.24. This represents a 90.32 % increase in their position. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Progyny Stock Performance

NASDAQ PGNY opened at $22.79 on Wednesday. The firm’s 50 day moving average price is $19.33 and its 200-day moving average price is $18.61. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $40.89. The company has a market cap of $1.94 billion, a PE ratio of 39.29, a P/E/G ratio of 2.18 and a beta of 1.34.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Barclays cut their price objective on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Canaccord Genuity Group cut their price objective on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Bank of America boosted their price objective on shares of Progyny from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Truist Financial restated a “hold” rating and issued a $19.00 price target (down from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.83.

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.