A Progyny (PGNY) Insider Sold 5,500 Shares for $137,000
Key Points
Kevin Gordon sold 5,500 shares on May 27, 2026, at a weighted average price of around $24.99 per share, for a total transaction value of ~$137,000.
The transaction represented 20.13% of his direct holdings prior to the sale.
All shares disposed in this filing were held directly; indirect ownership remains at 15,027 shares via the Kevin Gordon Revocable Declaration of Trust.
This transaction was Gordon’s largest sale to date, reflecting reduced available share capacity after a series of dispositions over the past two years.
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Progyny (NASDAQ:PGNY) delivers fertility benefits to major employers; a key insider recently trimmed their stake, according to SEC filings.
Kevin K. Gordon, Director at Progyny, reported the sale of 5,500 shares of common stock for a transaction value of approximately $137,000 on May 27, 2026, according to the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 5,500 |
| Transaction value | ~$137K |
| Post-transaction shares (direct) | 6,792 |
| Post-transaction shares (indirect) | 15,027 |
| Post-transaction value (direct ownership) | ~$173K |
Transaction value based on SEC Form 4 weighted average purchase price ($24.99); post-transaction value based on May 27, 2026 market close ($24.99).
Key questions
- How does this sale compare to Gordon’s historical trading pattern?
Since May of last year, Gordon has made two sales totaling 8,000 shares; this 5,500-share sale is his largest to date and brings his direct holdings down to less than one quarter of the level held twelve months prior. - What proportion of Gordon’s overall Progyny position does this transaction represent?
The sale accounted for 20.13% of his direct holdings and combined direct and indirect ownership immediately before the transaction, with all indirect shares retained in trust. - Did the sale affect Gordon’s indirect holdings or only his personal account?
Only directly held shares were sold; all 15,027 indirect shares remain held by the Kevin Gordon Revocable Declaration of Trust, for which Gordon acts as trustee. - What does the timing and size of this transaction suggest about future activity?
The elevated proportion of direct shares sold reflects a shrinking available direct share base following a series of dispositions, rather than a shift in transaction cadence or intent.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $1.29 billion |
| Net income (TTM) | $67.69 million |
| Price (as of market close 5/29/26) | $25.56 |
| 1-year price change | 16.2% |
* 1-year price change calculated using May 29, 2026, as the reference date.
Company snapshot
- Progyny offers fertility and family-building benefits solutions, including plan design, concierge member support, a selective network of fertility specialists, and integrated pharmacy benefits through Progyny Rx.
- The company generates revenue by providing comprehensive fertility benefits management services and pharmacy solutions to employers on a contractual basis.
- Primary customers are large employers seeking to offer advanced fertility, surrogacy, and adoption reimbursement programs to their employees in the United States.
Progyny is a leading benefits management company specializing in fertility and family-building solutions for employers across the United States. With over $1.29 billion in TTM revenue and a scalable business model, Progyny leverages a differentiated network of specialists and integrated pharmacy offerings to address complex reproductive health needs. The company's focus on tailored benefits and high-touch support provides a competitive edge in the rapidly evolving healthcare benefits sector.
What this transaction means for investors
Kevin Gordon’s been on Progeny’s board since 2019. His recent sale looks more like an insider supplementing their income than it looks like an attempt to flee a business in trouble. He retained a significant stake, plus the company’s fertility benefits business is going well.
First-quarter sales grew by 1.4% year over year to $328 million. While revenue growth stalled due to the loss of a large client, the company is becoming more efficient. Its gross profit grew by 10% to $83.1 million.
With the exception of the large client that recently left, client growth and retention have been strong. The company grew its client base by 12% year over year to 595 on March 31, 2026. Total revenue is expected to climb by 5.9% to 9.0% in 2026.
With plenty of new clients to drive growth, Progeny’s board recently approved a $200 million share repurchase program.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Progyny. The Motley Fool has a disclosure policy.
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