Insider Selling: Progyny (NASDAQ:PGNY) CEO Sells $5,763,534.84 in Stock

Progyny, Inc. (NASDAQ:PGNY) CEO Peter Anevski sold 161,308 shares of Progyny stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $35.73, for a total value of $5,763,534.84. Following the sale, the chief executive officer owned 762,468 shares of the company’s stock, valued at approximately $27,242,981.64. This represents a 17.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, November 5th, Peter Anevski sold 11,939 shares of Progyny stock. The shares were sold at an average price of $35.13, for a total transaction of $419,417.07.

Progyny Stock Performance

PGNY stock traded up $1.11 during trading on Monday, hitting $35.95. The stock had a trading volume of 1,645,331 shares, compared to its average volume of 914,017. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97. The company’s 50 day moving average price is $27.65 and its two-hundred day moving average price is $24.64. Progyny, Inc. has a 1-year low of $16.10 and a 1-year high of $36.00.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.21. The company had revenue of $341.25 million for the quarter, compared to analysts’ expectations of $340.76 million. Progyny had a net margin of 6.80% and a return on equity of 19.23%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. As a group, sell-side analysts forecast that Progyny, Inc. will post 1.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings upgraded Progyny from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Canaccord Genuity Group set a $35.00 price objective on Progyny in a report on Friday, August 7th. Truist Financial upped their target price on Progyny from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Jefferies Financial Group set a $33.00 target price on Progyny in a research report on Tuesday, September 8th. Finally, Zacks Research lowered Progyny from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.33.

Hedge Funds Weigh In On Progyny

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Progyny during the 2nd quarter worth $29,000. Nykredit A S acquired a new position in Progyny in the second quarter valued at $38,000. IFP Advisors Inc boosted its holdings in Progyny by 376.0% in the second quarter. IFP Advisors Inc now owns 1,961 shares of the company’s stock valued at $57,000 after acquiring an additional 1,549 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in Progyny during the second quarter valued at about $65,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Progyny during the second quarter valued at about $74,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

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.