Progyny (NASDAQ:PGNY) Stock: Insider Peter Anevski Sells 161,308 Shares

Progyny, Inc. (NASDAQ:PGNY) CEO Peter Anevski sold 161,308 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $35.73, for a total value of $5,763,534.84. Following the completion of the sale, the chief executive officer directly owned 762,468 shares of the company’s stock, valued at approximately $27,242,981.64. This trade represents a 17.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction of $419,417.07.

Progyny Price Performance

Progyny stock opened at $36.43 on Wednesday. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 1.88 and a beta of 0.97. The company’s 50 day simple moving average is $27.87 and its 200 day simple moving average is $24.70. Progyny, Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $36.45.

Progyny (NASDAQ:PGNY) last issued its earnings results on Wednesday, November 4th. The company reported $0.52 EPS for the quarter, beating 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 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 prior year, the firm earned $0.15 earnings per share. The business’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.

Progyny News Summary

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

Wall Street Analysts Forecast Growth

PGNY has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on shares of Progyny from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Citizens Jmp lifted their target price on Progyny from $33.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday, November 5th. Cantor Fitzgerald lifted their target price on Progyny from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Canaccord Genuity Group set a $35.00 target price on Progyny in a research note on Friday, August 7th. Finally, Zacks Research downgraded Progyny from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Progyny presently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Hedge Funds Weigh In On Progyny

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGNY. BlackRock Inc. acquired a new stake in shares of Progyny in the 2nd quarter valued at about $334,426,000. Bank of America Corp DE acquired a new position in shares of Progyny during the second quarter worth about $17,264,000. William Blair Investment Management LLC acquired a new position in shares of Progyny during the second quarter worth about $16,807,000. Danske Bank A S acquired a new position in shares of Progyny during the second quarter worth about $15,243,000. Finally, Jupiter Topco LLC bought a new position in shares of Progyny during the second quarter worth about $12,986,000. 94.93% of the stock is owned by institutional investors and hedge funds.

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.