Progyny (NASDAQ:PGNY) CEO Peter Anevski Sells 161,308 Shares of Company Stock

Key Points

• CEO Peter Anevski sold 161,308 shares for about $5.76 million at an average price of $35.73 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 17.46% to 762,468 shares.
• Progyny reported quarterly EPS of $0.52, beating estimates of $0.31; revenue was $341.25 million, up 8.9% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $35.33; shares traded near $35.95 in the report.

Progyny, Inc. (NASDAQ:PGNY - Get Free Report) CEO Peter Anevski sold 161,308 shares of Progyny stock in a transaction on Monday, November 9th. The shares were sold at an average price of $35.73, for a total transaction of $5,763,534.84. Following the completion of the transaction, the chief executive officer owned 762,468 shares in the company, valued at approximately $27,242,981.64. This represents a 17.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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.

Progyny Trading Up 3.2%

Shares of NASDAQ PGNY traded up $1.11 during midday trading on Monday, reaching $35.95. 1,645,331 shares of the company were exchanged, compared to its average volume of 914,017. The stock has a market cap of $2.76 billion, a P/E ratio of 32.98, a PEG ratio of 2.08 and a beta of 0.97. Progyny, Inc. has a 1 year low of $16.10 and a 1 year high of $36.00. The stock has a fifty day simple moving average of $27.65 and a 200 day simple moving average of $24.64.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data 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 return on equity of 19.23% and a net margin of 6.80%. The firm had revenue of $341.25 million during the quarter, compared to the consensus estimate of $340.76 million. During the same period in the prior year, the business earned $0.15 EPS. The firm's revenue was up 8.9% compared to the same quarter last year. As a group, analysts forecast that Progyny, Inc. will post 1.25 earnings per share for the current year.

Analysts Set New Price Targets

PGNY has been the subject of a number of recent analyst reports. Citizens Jmp raised their price objective on shares of Progyny from $33.00 to $38.00 and gave the company a "market outperform" rating in a research report on Thursday. Wells Fargo & Company increased their target price on Progyny from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday. Jefferies Financial Group set a $33.00 price target on Progyny in a report on Tuesday, September 8th. Cantor Fitzgerald lifted their price target on Progyny from $31.00 to $35.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, KeyCorp upped their price objective on Progyny from $30.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.33.

Hedge Funds Weigh In On Progyny

Several hedge funds have recently bought and sold shares of PGNY. Intech Investment Management LLC increased its stake in shares of Progyny by 33.3% during the 3rd quarter. Intech Investment Management LLC now owns 59,521 shares of the company's stock worth $1,499,000 after purchasing an additional 14,864 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Progyny by 14.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,124 shares of the company's stock valued at $104,000 after buying an additional 520 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Progyny by 10.7% in the 3rd quarter. William Blair Investment Management LLC now owns 645,130 shares of the company's stock valued at $16,251,000 after buying an additional 62,178 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Progyny by 465.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 128,417 shares of the company's stock valued at $3,213,000 after buying an additional 105,707 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its holdings in Progyny by 62.0% during the 3rd quarter. Maryland State Retirement & Pension System now owns 17,044 shares of the company's stock valued at $429,000 after buying an additional 6,526 shares during the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

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.

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