Insider Selling: Progyny, Inc. (NASDAQ:PGNY) Director Sells 2,500 Shares of Stock

Progyny, Inc. (NASDAQ:PGNY) Director Kevin K. Gordon sold 2,500 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $22.04, for a total transaction of $55,100.00. Following the transaction, the director directly owned 12,501 shares of the company’s stock, valued at approximately $275,522.04. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Progyny Price Performance

Shares of NASDAQ:PGNY opened at $23.40 on Friday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 39.66, a P/E/G ratio of 2.20 and a beta of 1.32. The firm’s 50 day simple moving average is $22.41 and its 200 day simple moving average is $22.18. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $26.76.

Progyny (NASDAQ:PGNY) last announced its earnings results on Thursday, August 7th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.23). The company had revenue of $332.87 million for the quarter, compared to analyst estimates of $315.70 million. Progyny had a return on equity of 10.69% and a net margin of 4.28%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $0.17 earnings per share. Equities research analysts expect that Progyny, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Progyny from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Truist Financial boosted their price objective on shares of Progyny from $24.00 to $27.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. Leerink Partners raised shares of Progyny from a “market perform” rating to an “outperform” rating and set a $28.00 price objective on the stock in a research report on Tuesday, July 8th. Leerink Partnrs raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 8th. Finally, Canaccord Genuity Group lowered their price objective on shares of Progyny from $23.00 to $21.00 and set a “hold” rating on the stock in a research report on Monday, May 12th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Progyny presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.90.

Institutional Trading of Progyny

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its position in Progyny by 95.7% during the fourth quarter. Barclays PLC now owns 1,382,205 shares of the company’s stock worth $23,843,000 after purchasing an additional 676,048 shares during the period. D. E. Shaw & Co. Inc. bought a new position in Progyny during the fourth quarter worth $11,265,000. BNP Paribas Financial Markets bought a new position in Progyny during the fourth quarter worth $10,557,000. Nuveen LLC bought a new position in Progyny during the first quarter worth $13,645,000. Finally, First Sabrepoint Capital Management LP bought a new position in Progyny during the fourth quarter worth $9,660,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.