Progyny (NASDAQ:PGNY) Insider Geoffrey Clapp Sells 774 Shares of Stock

Progyny, Inc. (NASDAQ:PGNY) insider Geoffrey Clapp sold 774 shares of the firm’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $36.41, for a total value of $28,181.34. Following the completion of the transaction, the insider owned 58,235 shares in the company, valued at $2,120,336.35. The trade was a 1.31% decrease in their position. The sale was disclosed in a 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.

Progyny Trading Down 1.1%

PGNY traded down $0.40 on Friday, hitting $36.18. 869,008 shares of the company’s stock were exchanged, compared to its average volume of 1,360,813. Progyny, Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $37.15. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 33.19, a P/E/G ratio of 1.91 and a beta of 0.97. The firm has a 50-day moving average price of $28.29 and a 200-day moving average price of $24.82.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results 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 the consensus estimate of $340.76 million. Progyny had a net margin of 6.80% and a return on equity of 19.82%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.15 earnings per share. On average, equities analysts predict that Progyny, Inc. will post 1.25 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PGNY. First Trust Advisors LP grew its position in shares of Progyny by 302.2% during the third quarter. First Trust Advisors LP now owns 425,903 shares of the company’s stock worth $10,728,000 after buying an additional 320,010 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Progyny by 3.5% in the third quarter. Public Sector Pension Investment Board now owns 322,105 shares of the company’s stock valued at $8,785,000 after acquiring an additional 10,918 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Progyny in the third quarter valued at approximately $1,306,000. Intech Investment Management LLC grew its holdings in Progyny by 33.3% during the 3rd quarter. Intech Investment Management LLC now owns 59,521 shares of the company’s stock worth $1,499,000 after acquiring an additional 14,864 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of Progyny by 14.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,124 shares of the company’s stock valued at $104,000 after purchasing an additional 520 shares during the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PGNY shares. Citigroup restated a “market outperform” rating on shares of Progyny in a research report on Thursday, November 5th. Wells Fargo & Company boosted their price objective on Progyny from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Truist Financial upped their target price on Progyny from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Canaccord Genuity Group set a $35.00 target price on Progyny in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on Progyny from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Progyny presently has an average rating of “Moderate Buy” and an average 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.