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 Stock Performance

Shares of NASDAQ:PGNY opened at $20.75 on Thursday. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $42.08. The business’s 50 day simple moving average is $15.83 and its two-hundred day simple moving average is $19.68. The firm has a market cap of $1.77 billion, a P/E ratio of 35.78, a PEG ratio of 1.95 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last issued its 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). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm had revenue of $286.63 million during the quarter, compared to the consensus estimate of $296.85 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. Progyny’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Progyny, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Peter Anevski purchased 209,500 shares of Progyny stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $14.48 per share, for a total transaction of $3,033,560.00. Following the acquisition, the chief executive officer now owns 441,463 shares in the company, valued at approximately $6,392,384.24. The trade was a 90.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David J. Schlanger bought 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the transaction, the chairman now directly owns 228,269 shares of the company’s stock, valued at $3,350,988.92. This represents a 191.65 % increase in their position. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Institutional Trading of Progyny

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JMP Securities cut Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. Canaccord Genuity Group lowered their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 target price (down previously from $22.00) on shares of Progyny in a research report on Monday, December 2nd. Barclays reduced their price target on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Finally, Leerink Partners dropped their price objective on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, September 19th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.00.

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.