Polen Capital Management LLC Has $4.50 Million Stock Position in Progyny, Inc. (NASDAQ:PGNY)

Polen Capital Management LLC decreased its stake in shares of Progyny, Inc. (NASDAQ:PGNY) by 28.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 260,708 shares of the company’s stock after selling 101,412 shares during the period. Polen Capital Management LLC’s holdings in Progyny were worth $4,497,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its position in Progyny by 47.5% during the 4th quarter. Pacer Advisors Inc. now owns 3,676,200 shares of the company’s stock worth $63,414,000 after buying an additional 1,183,558 shares in the last quarter. State Street Corp lifted its position in Progyny by 4.5% during the 3rd quarter. State Street Corp now owns 3,113,654 shares of the company’s stock valued at $52,185,000 after purchasing an additional 134,861 shares during the period. Invenomic Capital Management LP acquired a new position in Progyny during the 3rd quarter valued at about $29,509,000. River Road Asset Management LLC acquired a new position in Progyny during the 4th quarter valued at about $25,529,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in Progyny by 90.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock valued at $25,319,000 after purchasing an additional 695,740 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

Insider Transactions at Progyny

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on PGNY. Bank of America upped their target price 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. Canaccord Genuity Group upped their target price on shares of Progyny from $17.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. upped their price target on Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.82.

Progyny Stock Up 2.6 %

Shares of PGNY opened at $20.36 on Monday. The stock has a market capitalization of $1.74 billion, a P/E ratio of 35.10, a P/E/G ratio of 2.39 and a beta of 1.41. Progyny, Inc. has a twelve month low of $13.39 and a twelve month high of $38.98. The company has a 50 day moving average of $21.58 and a 200-day moving average of $18.61.

Progyny Company Profile

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.