Fred Alger Management LLC Sells 49,410 Shares of Progyny, Inc. $PGNY

Fred Alger Management LLC lowered its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 2.8% during the third quarter, Holdings Channel.com reports. The firm owned 1,706,646 shares of the company’s stock after selling 49,410 shares during the quarter. Fred Alger Management LLC’s holdings in Progyny were worth $36,727,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in Progyny by 147.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock valued at $30,000 after purchasing an additional 819 shares during the period. Versant Capital Management Inc increased its position in Progyny by 61.8% during the 3rd quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock worth $50,000 after buying an additional 894 shares during the period. Covestor Ltd increased its position in Progyny by 164.9% during the 3rd quarter. Covestor Ltd now owns 2,609 shares of the company’s stock worth $56,000 after buying an additional 1,624 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Progyny during the second quarter worth $77,000. Finally, USA Financial Formulas acquired a new stake in shares of Progyny during the third quarter worth $100,000. 94.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PGNY shares. Wall Street Zen raised shares of Progyny from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Truist Financial dropped their price objective on shares of Progyny from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. KeyCorp cut their price objective on shares of Progyny from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Citizens Jmp upgraded shares of Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Tuesday, January 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Progyny in a report on Friday, March 6th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.45.

Progyny Stock Performance

Shares of PGNY stock opened at $17.50 on Monday. Progyny, Inc. has a fifty-two week low of $16.75 and a fifty-two week high of $28.75. The stock’s fifty day moving average price is $22.30 and its two-hundred day moving average price is $22.74. The company has a market cap of $1.43 billion, a PE ratio of 26.92, a P/E/G ratio of 1.17 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. Progyny had a return on equity of 11.37% and a net margin of 4.54%.The company had revenue of $318.40 million during the quarter, compared to analysts’ expectations of $314.26 million. During the same quarter in the previous year, the firm earned $0.42 EPS. Progyny’s revenue was up 6.7% on a year-over-year basis. Progyny has set its FY 2026 guidance at 1.830-1.950 EPS and its Q1 2026 guidance at 0.420-0.450 EPS. On average, equities analysts predict that Progyny, Inc. will post 0.6 EPS for the current fiscal year.

Insider Transactions at Progyny

In other Progyny news, EVP Allison Swartz sold 4,657 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $17.40, for a total transaction of $81,031.80. Following the completion of the transaction, the executive vice president owned 89,879 shares of the company’s stock, valued at approximately $1,563,894.60. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 7,455 shares of company stock valued at $129,515 in the last quarter. Insiders own 9.40% of the company’s stock.

Progyny Company 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.