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

PGNY traded down $0.38 during trading on Thursday, hitting $20.37. 974,843 shares of the stock traded hands, compared to its average volume of 1,919,322. The firm has a market capitalization of $1.73 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 1.95 and a beta of 1.31. The firm has a 50-day moving average of $15.92 and a 200 day moving average of $19.69. Progyny, Inc. has a 12-month low of $13.39 and a 12-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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. As a group, equities analysts predict that Progyny, Inc. will post 0.59 EPS for the current fiscal year.

Insider Activity at Progyny

In other Progyny news, CEO Peter Anevski purchased 209,500 shares of Progyny stock in a transaction dated 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 transaction, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at $6,392,384.24. This trade represents a 90.32 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David J. Schlanger acquired 150,000 shares of the stock in a transaction dated Thursday, December 26th. The stock was acquired at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the purchase, the chairman now directly owns 228,269 shares in the company, valued at approximately $3,350,988.92. This trade represents a 191.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PGNY. Truist Financial reaffirmed a “hold” rating and issued a $19.00 target price (down from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. JMP Securities lowered shares of Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. Leerink Partners reduced their target price on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, September 19th. Canaccord Genuity Group lowered their target price on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Finally, Barclays reduced their price target on Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.00.

Hedge Funds Weigh In On Progyny

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PGNY. Quarry LP lifted its holdings in shares of Progyny by 1,900.0% during the second quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after purchasing an additional 836 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Progyny during the 2nd quarter valued at about $44,000. GAMMA Investing LLC lifted its position in Progyny by 341.4% during 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. Mendota Financial Group LLC purchased a new position in shares of Progyny in the 3rd quarter worth $56,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Progyny in the third quarter worth $77,000. 94.93% of the stock is owned by institutional investors.

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.

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.