Hsbc Holdings PLC reduced its holdings in shares of Progyny, Inc. (NASDAQ:PGNY – Free Report) by 59.9% in the fourth quarter, HoldingsChannel reports. The fund owned 41,324 shares of the company’s stock after selling 61,703 shares during the period. Hsbc Holdings PLC’s holdings in Progyny were worth $1,069,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of Progyny by 384.8% during the first quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock valued at $291,000 after purchasing an additional 10,340 shares in the last quarter. Amundi boosted its position in shares of Progyny by 103.8% in the 1st quarter. Amundi now owns 11,419 shares of the company’s stock worth $264,000 after purchasing an additional 5,817 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Progyny by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company’s stock worth $5,630,000 after buying an additional 14,297 shares during the last quarter. Invesco Ltd. grew its stake in shares of Progyny by 37.4% in the 2nd quarter. Invesco Ltd. now owns 379,189 shares of the company’s stock worth $8,342,000 after buying an additional 103,253 shares during the last quarter. Finally, Walleye Capital LLC increased its position in Progyny by 6.9% during the 2nd quarter. Walleye Capital LLC now owns 12,080 shares of the company’s stock valued at $266,000 after buying an additional 780 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.
Progyny Stock Up 4.3%
Shares of NASDAQ PGNY opened at $31.98 on Tuesday. The firm has a market cap of $2.50 billion, a P/E ratio of 41.53, a PEG ratio of 2.43 and a beta of 1.01. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $32.00. The company has a 50 day moving average of $26.11 and a 200 day moving average of $22.70.
Progyny declared that its board has authorized a stock repurchase plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 10.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
Insider Activity
In related news, CFO Mark S. Livingston sold 8,275 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $25.50, for a total transaction of $211,012.50. Following the sale, the chief financial officer directly owned 79,063 shares of the company’s stock, valued at $2,016,106.50. This trade represents a 9.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Geoffrey Clapp sold 1,530 shares of Progyny stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total value of $39,137.40. Following the completion of the sale, the insider owned 59,117 shares of the company’s stock, valued at $1,512,212.86. The trade was a 2.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 36,916 shares of company stock valued at $939,875. Corporate insiders own 9.90% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. KeyCorp lifted their price objective on Progyny from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday. Barclays increased their target price on Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Weiss Ratings raised Progyny from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 26th. Truist Financial lifted their price target on Progyny from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, Zacks Research upgraded shares of Progyny from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Progyny presently has a consensus rating of “Moderate Buy” and an average target price of $30.73.
Check Out Our Latest Stock Analysis on Progyny
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.
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Want to see what other hedge funds are holding PGNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progyny, Inc. (NASDAQ:PGNY – Free Report).
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