Insider Selling: Progyny, Inc. (NASDAQ:PGNY) Chairman Sells 71,272 Shares of Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David J. Schlanger sold 71,272 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $37.80, for a total transaction of $2,694,081.60. Following the completion of the transaction, the chairman now directly owns 86,312 shares of the company’s stock, valued at $3,262,593.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Progyny Price Performance

Progyny stock traded up $0.16 during mid-day trading on Friday, hitting $38.15. The company’s stock had a trading volume of 695,603 shares, compared to its average volume of 941,134. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 61.53, a price-to-earnings-growth ratio of 1.57 and a beta of 1.48. The business has a 50 day moving average price of $37.92 and a 200-day moving average price of $35.62. Progyny, Inc. has a 12 month low of $29.44 and a 12 month high of $44.95.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. The business had revenue of $269.94 million during the quarter, compared to the consensus estimate of $274.08 million. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 earnings per share. On average, equities research analysts expect that Progyny, Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PGNY shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 price target on shares of Progyny in a report on Wednesday, February 28th. SVB Leerink started coverage on shares of Progyny in a report on Monday, February 26th. They issued an “outperform” rating and a $49.00 price target for the company. Leerink Partnrs reissued an “outperform” rating on shares of Progyny in a report on Monday, February 26th. KeyCorp dropped their price objective on shares of Progyny from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Finally, Truist Financial dropped their price objective on shares of Progyny from $47.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Progyny currently has a consensus rating of “Buy” and a consensus price target of $48.30.

Institutional Trading of Progyny

Several hedge funds have recently added to or reduced their stakes in PGNY. RiverPark Advisors LLC raised its stake in shares of Progyny by 54.0% during the fourth quarter. RiverPark Advisors LLC now owns 1,067 shares of the company’s stock valued at $40,000 after acquiring an additional 374 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Progyny by 3,119.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,674 shares of the company’s stock valued at $50,000 after acquiring an additional 1,622 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Progyny during the third quarter valued at about $53,000. Lazard Asset Management LLC raised its stake in shares of Progyny by 45.2% during the fourth quarter. Lazard Asset Management LLC now owns 1,763 shares of the company’s stock valued at $54,000 after acquiring an additional 549 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Progyny during the third quarter valued at about $58,000. 94.93% of the stock is owned by institutional investors.

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.