Kevin K. Gordon Sells 2,500 Shares of Progyny, Inc. (NASDAQ:PGNY) Stock

Key Points

• Director Kevin K. Gordon sold 2,500 shares of Progyny, Inc. (NASDAQ:PGNY) stock at an average price of $22.04, totaling $55,100 and reducing his ownership by 16.67%.
• Progyny reported $0.19 earnings per share for the last quarter, missing the estimate of $0.42 by $0.23, while generating revenue of $332.87 million.
• Analysts have given Progyny's stock a consensus rating of "Moderate Buy" with a target price of $24.90, with recent upgrades from several firms including a raise to $28.00 by Raymond James.

Progyny, Inc. (NASDAQ:PGNY - Get Free Report) Director Kevin K. Gordon sold 2,500 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $22.04, for a total value of $55,100.00. Following the sale, the director directly owned 12,501 shares in the company, valued at $275,522.04. This trade represents a 16.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Progyny Price Performance

NASDAQ PGNY traded up $1.28 during trading hours on Wednesday, hitting $23.06. The company had a trading volume of 1,447,140 shares, compared to its average volume of 1,100,254. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $26.76. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 39.08, a P/E/G ratio of 2.13 and a beta of 1.32. The firm's 50 day moving average is $22.35 and its 200 day moving average is $22.18.

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

Analysts Set New Price Targets

PGNY has been the topic of several research analyst reports. Leerink Partnrs raised Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. Truist Financial upped their target price on Progyny from $24.00 to $27.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Wall Street Zen raised Progyny from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Canaccord Genuity Group reduced their price target on Progyny from $23.00 to $21.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Finally, Raymond James Financial set a $28.00 price target on Progyny in a research note on Friday, August 8th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.90.

Hedge Funds Weigh In On Progyny

Hedge funds have recently bought and sold shares of the company. Jump Financial LLC bought a new position in Progyny in the second quarter worth about $3,262,000. Cresset Asset Management LLC lifted its holdings in Progyny by 715.3% in the second quarter. Cresset Asset Management LLC now owns 85,053 shares of the company's stock worth $1,871,000 after acquiring an additional 74,621 shares during the last quarter. Amundi lifted its holdings in Progyny by 136.6% in the second quarter. Amundi now owns 27,012 shares of the company's stock worth $574,000 after acquiring an additional 15,593 shares during the last quarter. Walleye Capital LLC raised its holdings in shares of Progyny by 6.9% during the second quarter. Walleye Capital LLC now owns 12,080 shares of the company's stock valued at $266,000 after buying an additional 780 shares during the last quarter. Finally, Walleye Trading LLC bought a new stake in shares of Progyny during the second quarter valued at approximately $388,000. 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.

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