Progyny (NASDAQ:PGNY) CEO Sells $8,480,819.20 in Stock

Progyny, Inc. (NASDAQ:PGNY) CEO Peter Anevski sold 236,630 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $35.84, for a total value of $8,480,819.20. Following the completion of the transaction, the chief executive officer directly owned 710,972 shares in the company, valued at $25,481,236.48. The trade was a 24.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 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.
• 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 Price Performance

PGNY traded up $0.08 during trading on Thursday, hitting $36.58. The stock had a trading volume of 795,028 shares, compared to its average volume of 1,363,031. The company has a 50 day moving average price of $28.08 and a 200-day moving average price of $24.76. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 33.56, a P/E/G ratio of 1.91 and a beta of 0.97. Progyny, Inc. has a one year low of $16.10 and a one year high of $37.16.

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Canaccord Genuity Group set a $35.00 price target on shares of Progyny in a research note on Friday, August 7th. Barclays dropped their price objective on shares of Progyny from $34.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 12th. Wall Street Zen upgraded shares of Progyny from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Weiss Ratings raised shares of Progyny from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, BTIG Research boosted their price objective on shares of Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Progyny during the second quarter worth about $334,426,000. Bank of America Corp DE grew its stake in Progyny by 75.3% during the first quarter. Bank of America Corp DE now owns 1,190,996 shares of the company’s stock worth $20,223,000 after buying an additional 511,609 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Progyny by 10.7% in the 3rd quarter. William Blair Investment Management LLC now owns 645,130 shares of the company’s stock valued at $16,251,000 after buying an additional 62,178 shares during the period. Principal Financial Group Inc. increased its holdings in Progyny by 16.4% in the 1st quarter. Principal Financial Group Inc. now owns 554,916 shares of the company’s stock valued at $9,422,000 after buying an additional 78,198 shares during the period. Finally, Danske Bank A S acquired a new position in shares of Progyny in the 2nd quarter valued at approximately $15,243,000. 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.