28,791 Shares in Progyny, Inc. $PGNY Bought by State of Wyoming

State of Wyoming acquired a new position in Progyny, Inc. (NASDAQ:PGNY) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 28,791 shares of the company’s stock, valued at approximately $830,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. California State Teachers Retirement System boosted its holdings in shares of Progyny by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 70,421 shares of the company’s stock valued at $1,549,000 after buying an additional 457 shares in the last quarter. Teza Capital Management LLC increased its stake in shares of Progyny by 5.4% in the 2nd quarter. Teza Capital Management LLC now owns 10,068 shares of the company’s stock worth $221,000 after acquiring an additional 516 shares in the last quarter. Aristides Capital LLC increased its stake in shares of Progyny by 4.6% in the 3rd quarter. Aristides Capital LLC now owns 11,938 shares of the company’s stock worth $257,000 after acquiring an additional 528 shares in the last quarter. Oxford Asset Management LLP lifted its position in Progyny by 4.3% during the 2nd quarter. Oxford Asset Management LLP now owns 12,918 shares of the company’s stock valued at $284,000 after acquiring an additional 531 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Progyny by 3.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,202 shares of the company’s stock valued at $493,000 after acquiring an additional 637 shares during the period. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Insider Activity

In related news, Director Cheryl Scott sold 7,439 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $26.39, for a total transaction of $196,315.21. Following the completion of the sale, the director owned 19,772 shares in the company, valued at approximately $521,783.08. This represents a 27.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin K. Gordon sold 5,500 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $24.99, for a total value of $137,445.00. Following the completion of the transaction, the director directly owned 9,318 shares in the company, valued at approximately $232,856.82. This represents a 37.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 36,916 shares of company stock worth $939,875. Insiders own 9.90% of the company’s stock.

Progyny Trading Up 1.5%

NASDAQ:PGNY opened at $26.28 on Friday. The company has a market cap of $2.02 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 1.91 and a beta of 1.01. The company has a 50 day simple moving average of $29.16 and a two-hundred day simple moving average of $23.47. Progyny, Inc. has a 12 month low of $16.10 and a 12 month high of $33.06.

Progyny announced that its board has approved a stock buyback plan on Tuesday, May 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 10.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PGNY shares. Leerink Partners set a $38.00 price objective on shares of Progyny in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Progyny from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Citigroup reissued an “outperform” rating on shares of Progyny in a research report on Monday, May 11th. Citizens Jmp upped their price target on shares of Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research note on Monday, May 11th. Finally, Bank of America increased their target price on Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.10.

About Progyny

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.