Progyny (NASDAQ:PGNY) Chairman David Schlanger Sells 3,400 Shares of Company Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David Schlanger sold 3,400 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $35.22, for a total value of $119,748.00. Following the transaction, the chairman owned 238,462 shares of the company’s stock, valued at $8,398,631.64. This represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progyny Stock Performance

Shares of PGNY opened at $35.95 on Tuesday. The company’s fifty day moving average is $27.65 and its 200 day moving average is $24.64. Progyny, Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $36.00. The stock has a market capitalization of $2.76 billion, a PE ratio of 32.98, a P/E/G ratio of 2.08 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 analysts’ consensus estimates of $0.31 by $0.21. Progyny had a net margin of 6.80% and a return on equity of 19.23%. The company had revenue of $341.25 million for 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. Progyny’s revenue was up 8.9% on a year-over-year basis. As a group, research analysts forecast that Progyny, Inc. will post 1.25 earnings per share for the current year.

Institutional Trading of Progyny

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE acquired a new position in shares of Progyny in the 2nd quarter valued at $17,264,000. Hsbc Holdings PLC purchased a new position in shares of Progyny during the 2nd quarter valued at approximately $760,000. AWM Investment Company Inc. purchased a new position in shares of Progyny during the 2nd quarter valued at approximately $6,343,000. Corient Private Wealth LP purchased a new position in shares of Progyny during the 2nd quarter valued at approximately $3,488,000. Finally, Squarepoint Ops LLC acquired a new stake in Progyny in the 2nd quarter valued at $1,705,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

PGNY has been the topic of a number of analyst reports. Citigroup reiterated a “market outperform” rating on shares of Progyny in a research report on Thursday. KeyCorp lifted their target price on Progyny from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Truist Financial upped their price target on shares of Progyny from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. upped their price objective on Progyny from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, BTIG Research raised their target price on shares of Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Progyny has an average rating of “Moderate Buy” and an average target price of $35.33.

More Progyny News

Here are the key news stories impacting Progyny this week:

• Positive Sentiment: Wall Street Zen upgraded Progyny to “Strong Buy,” providing a bullish signal for the stock. Article: Progyny Upgraded to Strong-Buy at Wall Street Zen
• Neutral Sentiment: JPMorgan raised its price target to $35 from $30 but kept a “Neutral” rating, indicating a higher valuation expectation without an outright bullish call. JPMorgan ratings
• Negative Sentiment: CEO Peter Anevski and Chairman David Schlanger each reported selling about 161,000 shares on Nov. 9, in addition to smaller sales reported for Nov. 5. The sizable sales could raise investor concerns about insider confidence, although the transactions were conducted under pre-arranged Rule 10b5-1 plans. CEO SEC filing Chairman SEC filing

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.

Founded in 2008, Progyny serves employer clients and their workforces in the United States.