Progyny (NASDAQ:PGNY) Insider Geoffrey Clapp Sells 774 Shares of Company Stock

Progyny, Inc. (NASDAQ:PGNY) insider Geoffrey Clapp sold 774 shares of the stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $36.41, for a total value of $28,181.34. Following the completion of the sale, the insider owned 58,235 shares of the company’s stock, valued at approximately $2,120,336.35. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progyny Trading Down 1.1%

Shares of PGNY stock traded down $0.40 during trading hours on Friday, reaching $36.18. 869,008 shares of the company’s stock were exchanged, compared to its average volume of 1,062,968. Progyny, Inc. has a 1 year low of $16.10 and a 1 year high of $37.15. The stock has a market cap of $2.66 billion, a PE ratio of 33.19, a PEG ratio of 1.70 and a beta of 0.97. The stock’s fifty day moving average price is $28.48 and its two-hundred day moving average price is $24.87.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data 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 for 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, equities analysts expect that Progyny, Inc. will post 1.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on PGNY shares. Jefferies Financial Group set a $33.00 price target on shares of Progyny in a report on Tuesday, September 8th. BTIG Research boosted their price objective on shares of Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 24th. Citigroup reissued a “market outperform” rating on shares of Progyny in a research report on Thursday, November 5th. Cantor Fitzgerald upped their target price on Progyny from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Finally, Citizens Jmp raised their target price on Progyny from $33.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 5th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.33.

Hedge Funds Weigh In On Progyny

Several hedge funds and other institutional investors have recently bought and sold shares of the business. AWM Investment Company Inc. raised its position in Progyny by 6.8% during the 3rd quarter. AWM Investment Company Inc. now owns 235,000 shares of the company’s stock worth $5,920,000 after buying an additional 15,000 shares during the last quarter. Kovack Advisors Inc. acquired a new stake in Progyny during the 3rd quarter valued at approximately $72,000. First Trust Advisors LP boosted its holdings in shares of Progyny by 302.2% in the 3rd quarter. First Trust Advisors LP now owns 425,903 shares of the company’s stock valued at $10,728,000 after acquiring an additional 320,010 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Progyny by 3.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 322,105 shares of the company’s stock valued at $8,785,000 after acquiring an additional 10,918 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of Progyny in the 3rd quarter valued at $1,306,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

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.