Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Progyny Inc. shares valued at $11,258 were sold by Payson Norman on Nov 23. At $56.29 per share, Payson Norman sold 200 shares. The insider’s holdings dropped to 580,656 shares worth approximately $17.29 million following the completion of this transaction.
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Also, Payson Norman sold 6,618 shares, netting a total of over 220,247 in proceeds. Following the sale of shares at $33.28 each, the insider now holds 418,030 shares.
Before that, Payson Norman had sold 6,618 shares from its account. In a trade valued at $221,041, the Director traded Progyny Inc. shares for $33.40 each. Upon closing the transaction, the insider’s holdings decreased to 6,618 shares, worth approximately $12.64 million.
As published in their initiating research note from Jefferies on December 02, 2021, Progyny Inc. [PGNY] has been a Buy and the price target has been revised to $60. This represents a 50.38% premium over Thursday’s closing price. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late November. As of September 30, 2021, Berenberg has initiated its “Buy” rating for PGNY. Earlier on August 12, 2021, Barclays initiated its rating. Their recommendation was “an Overweight” for PGNY stock.
Analyzing PGNY’s Price Performance
On Thursday, Progyny Inc. [NASDAQ: PGNY] plunged -8.54% to $29.77. The stock’s lowest price that day was $29.65, but it reached a high of $32.44 in the same session. During the last five days, there has been a drop of approximately -3.75%. Over the course of the year, Progyny Inc. shares have dropped approximately -40.87%. Shares of the company reached a 52-week high of $53.10 on 04/01/22 and a 52-week low of $25.67 on 06/16/22. A 50-day SMA is recorded $30.25, while a 200-day SMA reached $42.53. Nevertheless, trading volume fell to 1.62 million shares from 0.83 million shares the previous day.
Support And Resistance Levels for Progyny Inc. (PGNY)
According to the 24-hour chart, there is a support level at 28.80, which, if violated, would cause prices to drop to 27.83. In the upper region, resistance lies at 31.59. The next price resistance is at 33.41. RSI (Relative Strength Index) is 44.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.53, which suggests the price will decrease in the coming days. Percent R is at 90.11%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Progyny Inc. subject to short interest?
Stocks of Progyny Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.38 million shares to 6.35 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.97 million shares. A jump of 5.98% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.42 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.42.
Which companies own the most shares of Progyny Inc. (PGNY)?
According to Macquarie Investment Management B filings, the company currently owns 7,298,319 shares, which is about 7.94% of the total PGNY shares outstanding. The investor’s shares have plunged by -55,389 from its previous 13-F filing of 7353708.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $200,607,854. The Vanguard Group, Inc. acquire a 0.88% interest valued at $184.64 million while American Century Investment Manag purchased a 1,209,053 stake. A total of -532,291 shares of Progyny Inc. were bought by Weatherbie Capital LLC during the quarter, and 86,249 were bought by ClearBridge Investments LLC. In its current portfolio, SSgA Funds Management, Inc. holds 2,075,678 shares valued at $60.3 million.
In terms of Progyny Inc. share price expectations, FactSet research, analysts set an average price target of $60.67 in the next 12 months, up nearly 79.72% from the previous closing price of $32.55. Analysts anticipate Progyny Inc. stock to reach $80.00 by 2022, with the lowest price target being $45.00. In spite of this, 6 analysts ranked Progyny Inc. stock as a Buy at the end of 2022.