Cambridge Trust Co. Takes $95,000 Position in Progyny, Inc. (NASDAQ:PGNY)

Cambridge Trust Co. acquired a new position in Progyny, Inc. (NASDAQ:PGNY) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,500 shares of the company’s stock, valued at approximately $95,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PGNY. TFC Financial Management Inc. acquired a new position in shares of Progyny in the 1st quarter worth approximately $42,000. Financial Management Professionals Inc. bought a new stake in Progyny during the first quarter valued at $52,000. Parkside Financial Bank & Trust grew its holdings in Progyny by 9.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock worth $115,000 after acquiring an additional 264 shares during the period. Natixis Investment Managers International bought a new position in shares of Progyny in the 1st quarter worth about $117,000. Finally, Assetmark Inc. lifted its stake in shares of Progyny by 26.8% in the 4th quarter. Assetmark Inc. now owns 3,756 shares of the company’s stock valued at $140,000 after purchasing an additional 793 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, President Michael E. Sturmer sold 9,030 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total value of $270,900.00. Following the completion of the transaction, the president now directly owns 362,583 shares of the company’s stock, valued at $10,877,490. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, President Michael E. Sturmer sold 9,030 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the transaction, the president now owns 362,583 shares in the company, valued at $10,877,490. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $28.39, for a total transaction of $41,506.18. Following the completion of the sale, the director now directly owns 10,098 shares in the company, valued at approximately $286,682.22. The disclosure for this sale can be found here. 12.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Truist Financial decreased their target price on Progyny from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, May 17th. Barclays reduced their price objective on shares of Progyny from $48.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. KeyCorp downgraded shares of Progyny from an “overweight” rating to a “sector weight” rating in a research report on Friday, May 10th. JMP Securities assumed coverage on shares of Progyny in a report on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 price objective on shares of Progyny in a report on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.40.

Progyny Stock Down 1.1 %

PGNY stock traded down $0.30 during mid-day trading on Friday, reaching $26.80. 1,574,773 shares of the company traded hands, compared to its average volume of 891,968. The firm’s 50 day moving average price is $27.69 and its 200 day moving average price is $32.65. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 43.93, a P/E/G ratio of 1.76 and a beta of 1.46. Progyny, Inc. has a fifty-two week low of $23.90 and a fifty-two week high of $44.95.

Progyny (NASDAQ:PGNY) last posted its earnings results on Thursday, May 9th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $278.08 million for the quarter, compared to analyst estimates of $289.41 million. Progyny had a return on equity of 11.61% and a net margin of 5.53%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. On average, analysts anticipate that Progyny, Inc. will post 0.73 EPS for the current fiscal year.

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.