Progyny (NASDAQ:PGNY) CEO Peter Anevski Sells 236,630 Shares of Company Stock

Progyny, Inc. (NASDAQ:PGNY) CEO Peter Anevski sold 236,630 shares of the firm’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 transaction of $8,480,819.20. Following the completion of the transaction, the chief executive officer owned 710,972 shares of the company’s stock, valued at approximately $25,481,236.48. This trade represents a 24.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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.
• 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 transaction of $5,763,534.84.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $36.58 on Friday. Progyny, Inc. has a 52-week low of $16.10 and a 52-week high of $37.16. The firm has a 50 day moving average price of $28.29 and a two-hundred day moving average price of $24.82. The stock has a market cap of $2.69 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 1.91 and a beta of 0.97.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.21. The firm had revenue of $341.25 million during 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 quarter last year, the firm earned $0.15 earnings per share. Analysts predict that Progyny, Inc. will post 1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Progyny

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Progyny in the second quarter valued at $334,426,000. Bank of America Corp DE grew its holdings in Progyny by 75.3% during the 1st quarter. Bank of America Corp DE now owns 1,190,996 shares of the company’s stock worth $20,223,000 after acquiring an additional 511,609 shares during the period. William Blair Investment Management LLC grew its holdings in Progyny by 10.7% during the 3rd quarter. William Blair Investment Management LLC now owns 645,130 shares of the company’s stock worth $16,251,000 after acquiring an additional 62,178 shares during the period. Principal Financial Group Inc. raised its position in shares of Progyny by 16.4% in the 1st quarter. Principal Financial Group Inc. now owns 554,916 shares of the company’s stock worth $9,422,000 after acquiring an additional 78,198 shares in the last quarter. Finally, Danske Bank A S bought a new position in shares of Progyny in the 2nd quarter worth about $15,243,000. Institutional investors own 94.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PGNY. Zacks Research downgraded Progyny from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Citigroup reissued a “market outperform” rating on shares of Progyny in a research note on Thursday, November 5th. Weiss Ratings raised Progyny from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Citizens Jmp raised their price objective on Progyny from $33.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 5th. Finally, Wall Street Zen raised Progyny from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 8th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.33.

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.