Progyny (NASDAQ:PGNY) CEO Peter Anevski Sells 11,939 Shares of Stock

Progyny, Inc. (NASDAQ:PGNY) CEO Peter Anevski sold 11,939 shares of the company’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $35.13, for a total transaction of $419,417.07. Following the transaction, the chief executive officer owned 797,572 shares of the company’s stock, valued at approximately $28,018,704.36. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Anevski also recently made the following trade(s):

• On Monday, November 9th, Peter Anevski sold 161,308 shares of Progyny stock. The stock was sold at an average price of $35.73, for a total value of $5,763,534.84.

Progyny Trading Up 3.2%

NASDAQ:PGNY opened at $35.95 on Tuesday. Progyny, Inc. has a 12 month low of $16.10 and a 12 month high of $36.00. The stock has a 50 day moving average of $27.65 and a two-hundred day moving average of $24.64. The firm has a market cap of $2.76 billion, a P/E ratio of 32.98, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97.

Progyny (NASDAQ:PGNY) last announced its earnings results on Wednesday, November 4th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.21. The business had revenue of $341.25 million during the quarter, compared to analysts’ expectations of $340.76 million. Progyny had a return on equity of 19.23% and a net margin of 6.80%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 earnings per share. On average, research analysts forecast that Progyny, Inc. will post 1.25 earnings per share for the current year.

Progyny News Roundup

Here are the key news stories impacting Progyny this week:

• Positive Sentiment: Wall Street Zen upgraded Progyny to “Strong Buy,” providing a bullish signal for the stock. Article: Progyny Upgraded to Strong-Buy at Wall Street Zen
• Neutral Sentiment: JPMorgan raised its price target to $35 from $30 but kept a “Neutral” rating, indicating a higher valuation expectation without an outright bullish call. JPMorgan ratings
• Negative Sentiment: CEO Peter Anevski and Chairman David Schlanger each reported selling about 161,000 shares on Nov. 9, in addition to smaller sales reported for Nov. 5. The sizable sales could raise investor concerns about insider confidence, although the transactions were conducted under pre-arranged Rule 10b5-1 plans. CEO SEC filing Chairman SEC filing

Institutional Trading of Progyny

Several large investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC boosted its position in shares of Progyny by 33.3% during the 3rd quarter. Intech Investment Management LLC now owns 59,521 shares of the company’s stock valued at $1,499,000 after acquiring an additional 14,864 shares during the last quarter. Hantz Financial Services Inc. increased its position in Progyny by 14.4% during the third quarter. Hantz Financial Services Inc. now owns 4,124 shares of the company’s stock worth $104,000 after purchasing an additional 520 shares during the last quarter. William Blair Investment Management LLC increased its position in Progyny by 10.7% during the third quarter. William Blair Investment Management LLC now owns 645,130 shares of the company’s stock worth $16,251,000 after purchasing an additional 62,178 shares during the last quarter. Russell Investments Group Ltd. increased its position in Progyny by 465.5% during the third quarter. Russell Investments Group Ltd. now owns 128,417 shares of the company’s stock worth $3,213,000 after purchasing an additional 105,707 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its position in Progyny by 62.0% during the third quarter. Maryland State Retirement & Pension System now owns 17,044 shares of the company’s stock worth $429,000 after purchasing an additional 6,526 shares during the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PGNY. Citizens Jmp raised their price objective on Progyny from $33.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, November 5th. Jefferies Financial Group set a $33.00 price target on shares of Progyny in a research note on Tuesday, September 8th. Barclays lowered their price target on shares of Progyny from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Zacks Research downgraded shares of Progyny from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, KeyCorp raised their target price on shares of Progyny from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

Progyny Company Profile

Progyny, Inc provides fertility and family-building benefits to employers and their employees. Its services are designed to help members navigate care options, access fertility specialists and receive support throughout treatment.

The company’s offerings include coverage for treatments such as in vitro fertilization and egg freezing, along with fertility medications through its pharmacy benefit. Progyny also supports other family-building paths, including adoption and surrogacy, depending on the plan selected by an employer.

Founded in 2008, Progyny serves employer clients and their workforces in the United States.