Peter Anevski Acquires 209,500 Shares of Progyny, Inc. (NASDAQ:PGNY) Stock

Progyny, Inc. (NASDAQ:PGNY) CEO Peter Anevski purchased 209,500 shares of Progyny stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $14.48 per share, with a total value of $3,033,560.00. Following the acquisition, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at $6,392,384.24. The trade was a 90.32 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Progyny Trading Up 14.9 %

Shares of Progyny stock opened at $16.90 on Friday. The business’s 50 day simple moving average is $15.23 and its 200-day simple moving average is $20.51. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.64 and a beta of 1.35. Progyny, Inc. has a twelve month low of $13.39 and a twelve month high of $42.08.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The company had revenue of $286.63 million for the quarter, compared to analyst estimates of $296.85 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Sell-side analysts predict that Progyny, Inc. will post 0.59 earnings per share for the current year.

Institutional Trading of Progyny

Several large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System increased its position in Progyny by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock valued at $696,000 after acquiring an additional 609 shares during the period. State of New Jersey Common Pension Fund D increased its position in Progyny by 1.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 70,717 shares of the company’s stock valued at $2,023,000 after acquiring an additional 787 shares during the period. Quarry LP increased its position in Progyny by 1,900.0% in the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after acquiring an additional 836 shares during the period. Creative Planning increased its position in Progyny by 13.8% in the 2nd quarter. Creative Planning now owns 10,564 shares of the company’s stock valued at $302,000 after acquiring an additional 1,283 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Progyny in the 2nd quarter valued at approximately $44,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Truist Financial reaffirmed a “hold” rating and set a $19.00 target price (down previously from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Canaccord Genuity Group reduced their target price on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Bank of America reduced their target price on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 target price (down previously from $22.00) on shares of Progyny in a report on Monday, December 2nd. Finally, Jefferies Financial Group reduced their target price on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $25.00.

Progyny Company Profile

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.