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 the company’s stock in a transaction on 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 transaction, the chief executive officer owned 762,468 shares of the company’s stock, valued at approximately $27,242,981.64. The trade was a 17.46% 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 this hyperlink. 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 stock was sold at an average price of $35.13, for a total value of $419,417.07.

Progyny Stock Performance

PGNY stock opened at $36.50 on Thursday. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 1.91 and a beta of 0.97. Progyny, Inc. has a 1 year low of $16.10 and a 1 year high of $36.52. The stock’s fifty day moving average is $28.08 and its two-hundred day moving average is $24.76.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.31 by $0.21. Progyny had a net margin of 6.80% and a return on equity of 19.82%. The business had revenue of $341.25 million during the quarter, compared to analyst estimates of $340.76 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, analysts predict that Progyny, Inc. will post 1.25 EPS for the current fiscal year.

Trending Headlines about Progyny

These are some of the PGNY headlines that stood out recently:

• Positive Sentiment: Progyny reported quarterly adjusted earnings of $0.52 per share, above the $0.31 consensus estimate, and revenue of $341.25 million, slightly ahead of expectations and up 8.9% year over year. Strong results and raised guidance have also prompted a fair-value increase. Article: Progyny fair value bump after results and raised guidance
• Positive Sentiment: The company added 1.3 million covered lives for the 2027 plan year and achieved a nearly 100% pharmacy attach rate with new clients, pointing to potential expansion of its customer base and pharmacy business. Article: Progyny: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: JPMorgan raised its price target on PGNY, adding an analyst endorsement amid the company’s recent results. Article: Progyny stock gets price target bump from JPMorgan

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PGNY. Public Sector Pension Investment Board increased its position in shares of Progyny by 3.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 322,105 shares of the company’s stock valued at $8,785,000 after purchasing an additional 10,918 shares during the period. Edgestream Partners L.P. bought a new position in Progyny during the third quarter valued at about $1,306,000. Intech Investment Management LLC boosted its stake in Progyny by 33.3% during the third quarter. Intech Investment Management LLC now owns 59,521 shares of the company’s stock valued at $1,499,000 after buying an additional 14,864 shares in the last quarter. Hantz Financial Services Inc. grew its holdings 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 acquiring an additional 520 shares during the period. Finally, William Blair Investment Management LLC grew its holdings 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 acquiring an additional 62,178 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PGNY. Barclays dropped 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 note on Wednesday, August 12th. BTIG Research boosted their price objective on Progyny from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Weiss Ratings raised Progyny from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Jefferies Financial Group set a $33.00 target price on Progyny in a research report on Tuesday, September 8th. Finally, Citizens Jmp lifted their target price on Progyny from $33.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, November 5th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Progyny presently has an average rating of “Moderate Buy” and an average price target of $35.33.

About Progyny

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.