Progyny (NASDAQ:PGNY) Stock: Insider Peter Anevski Sells 11,939 Shares

Progyny, Inc. (NASDAQ:PGNY) CEO Peter Anevski sold 11,939 shares of Progyny stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $35.13, for a total value of $419,417.07. Following the completion of the transaction, the chief executive officer owned 797,572 shares of the company’s stock, valued at approximately $28,018,704.36. The trade was a 1.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 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 Trading Up 1.3%

PGNY stock opened at $36.43 on Wednesday. The firm has a market cap of $2.68 billion, a P/E ratio of 33.42, a P/E/G ratio of 1.88 and a beta of 0.97. Progyny, Inc. has a 12-month low of $16.10 and a 12-month high of $36.45. The stock’s 50 day simple moving average is $27.87 and its 200 day simple moving average is $24.70.

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

Institutional Investors Weigh In On Progyny

Several large investors have recently added to or reduced their stakes in PGNY. Public Sector Pension Investment Board increased its holdings 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 worth $8,785,000 after acquiring an additional 10,918 shares during the period. Edgestream Partners L.P. acquired a new position in Progyny during the 3rd quarter valued at about $1,306,000. Intech Investment Management LLC boosted its stake 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 purchasing an additional 14,864 shares during the period. Hantz Financial Services Inc. boosted its stake in Progyny by 14.4% during 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 period. Finally, William Blair Investment Management LLC grew its position in Progyny by 10.7% in the 3rd quarter. William Blair Investment Management LLC now owns 645,130 shares of the company’s stock worth $16,251,000 after purchasing an additional 62,178 shares during the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Progyny

Here are the key news stories impacting Progyny this week:

• Positive Sentiment: Progyny’s latest quarter delivered EPS of $0.52, well above the $0.31 consensus estimate, while revenue rose 8.9% year over year to $341.25 million. Recent coverage also points to raised guidance and a breakout above a technical buy point, supporting the bullish view. Article: Fertility treatment leader Progyny breaks out past buy point as earnings surge Article: Progyny stock gets fair value bump
• Neutral Sentiment: JPMorgan raised its price target to $35 from $30 but maintained a Neutral rating. The reported analyst consensus target of $35.33 is also below the quoted share price, potentially limiting perceived upside at current levels. JPMorgan analyst ratings
• Negative Sentiment: CEO Peter Anevski and Chairman David Schlanger each sold about 161,000 shares on Nov. 9, alongside smaller sales reported for Nov. 5. The larger transactions could weigh on investor sentiment, although the filings say they were made under pre-arranged Rule 10b5-1 plans and both executives retained substantial holdings. CEO SEC filing Chairman SEC filing

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Jefferies Financial Group set a $33.00 price target on shares of Progyny in a report on Tuesday, September 8th. JPMorgan Chase & Co. increased their price objective on shares of Progyny from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday. Zacks Research cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. 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. Finally, Cantor Fitzgerald upped their target price on Progyny from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Progyny has a consensus 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.