Insider Selling: Progyny (NASDAQ:PGNY) CEO Sells $419,417.07 in Stock

Progyny, Inc. (NASDAQ:PGNY) CEO Peter Anevski sold 11,939 shares of the stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $35.13, for a total transaction of $419,417.07. Following the completion of the sale, the chief executive officer owned 797,572 shares of the company’s stock, valued at approximately $28,018,704.36. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Monday, November 9th, Peter Anevski sold 161,308 shares of Progyny stock. The shares were sold at an average price of $35.73, for a total value of $5,763,534.84.

Progyny Price Performance

NASDAQ PGNY 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. The business’s fifty day moving average is $28.08 and its 200-day moving average is $24.76. Progyny, Inc. has a one year low of $16.10 and a one year high of $36.52.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates 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 19.82%. Progyny’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. Research analysts expect that Progyny, Inc. will post 1.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on PGNY shares. Jefferies Financial Group set a $33.00 price objective on shares of Progyny in a research note on Tuesday, September 8th. Wells Fargo & Company boosted their price objective on Progyny from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Wall Street Zen raised Progyny from a “buy” rating to a “strong-buy” rating in a report on Sunday. BTIG Research raised their target price on Progyny from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Zacks Research lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Hedge Funds Weigh In On Progyny

Several institutional investors have recently modified their holdings of PGNY. Public Sector Pension Investment Board boosted its stake in shares of Progyny by 3.5% in 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 in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Progyny in the third quarter worth about $1,306,000. Intech Investment Management LLC boosted 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 valued at $1,499,000 after acquiring an additional 14,864 shares during the period. Hantz Financial Services Inc. grew its position in Progyny by 14.4% during the 3rd 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 last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of Progyny by 10.7% during the third quarter. William Blair Investment Management LLC now owns 645,130 shares of the company’s stock valued at $16,251,000 after purchasing an additional 62,178 shares during the period. 94.93% of the stock is currently owned by institutional investors.

Progyny News Summary

These are some of the PGNY news items 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
• Negative Sentiment: CEO Peter Anevski and Chairman David Schlanger reported sizable share sales on Nov. 9. The sales were made under pre-arranged Rule 10b5-1 plans, which may temper—but do not eliminate—concerns about insider selling. Article: CEO Peter Anevski sells shares Article: Chairman David Schlanger sells shares

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.