Rep. Josh Gottheimer Sells Off Shares of Progyny, Inc. (NASDAQ:PGNY)

Representative Josh Gottheimer (D-New Jersey) recently sold shares of Progyny, Inc. (NASDAQ:PGNY). In a filing disclosed on January 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Progyny stock on December 6th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Block (NYSE:SQ) on 12/30/2024.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 12/30/2024.
• Sold $1,001 – $15,000 in shares of Ambev (NYSE:ABEV) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Grupo Financiero Banorte (OTCMKTS:GBOOY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Cadre (NYSE:CDRE) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Coloplast A/S (OTCMKTS:CLPBY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Intuitive Surgical (NASDAQ:ISRG) on 12/23/2024.
• Sold $1,001 – $15,000 in shares of Trane Technologies (NYSE:TT) on 12/23/2024.
• Purchased $1,001 – $15,000 in shares of Walmart (NYSE:WMT) on 12/20/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 12/19/2024.

Progyny Price Performance

Shares of NASDAQ:PGNY traded down $0.57 on Thursday, hitting $20.18. 331,844 shares of the company’s stock were exchanged, compared to its average volume of 1,853,651. The business’s 50 day simple moving average is $15.92 and its two-hundred day simple moving average is $19.69. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 34.79, a price-to-earnings-growth ratio of 1.95 and a beta of 1.31. Progyny, Inc. has a 12 month low of $13.39 and a 12 month high of $42.08.

Progyny (NASDAQ:PGNY) last posted its 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 analysts’ expectations of $296.85 million. During the same quarter in the prior year, the company earned $0.16 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts forecast that Progyny, Inc. will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Progyny

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP increased its position in Progyny by 1,900.0% during the second quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after purchasing an additional 836 shares during the last quarter. GAMMA Investing LLC raised its position in Progyny by 341.4% in the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock valued at $28,000 after purchasing an additional 1,246 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Progyny during the 2nd quarter worth about $44,000. Mendota Financial Group LLC acquired a new stake in shares of Progyny during the third quarter valued at about $56,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Progyny during the 3rd quarter worth approximately $77,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. 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 research report on Wednesday, November 13th. Jefferies Financial Group decreased their price target on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, September 19th. JMP Securities downgraded Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of Progyny in a research note on Tuesday, October 1st. Finally, Bank of America lowered their target price on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.00.

Insider Buying and Selling at Progyny

In related news, Chairman David J. Schlanger acquired 150,000 shares of Progyny stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the purchase, the chairman now owns 228,269 shares in the company, valued at approximately $3,350,988.92. The trade was a 191.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Anevski purchased 209,500 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $14.48 per share, with a total value of $3,033,560.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by corporate insiders.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.