Insider Selling: Butterfly Network, Inc. (NYSE:BFLY) EVP Sells $144,003.20 in Stock

Butterfly Network, Inc. (NYSE:BFLY) EVP Heather C. Getz sold 65,456 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $2.20, for a total value of $144,003.20. Following the completion of the sale, the executive vice president now owns 2,919,274 shares in the company, valued at $6,422,402.80. This represents a 2.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Butterfly Network Trading Down 1.8 %

NYSE:BFLY opened at $2.23 on Friday. Butterfly Network, Inc. has a 12-month low of $0.82 and a 12-month high of $4.98. The firm has a market cap of $541.72 million, a PE ratio of -4.85 and a beta of 2.59. The stock has a fifty day moving average price of $2.44 and a 200 day moving average price of $3.07.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.25%. The business had revenue of $21.23 million during the quarter, compared to analysts’ expectations of $21.16 million. Equities analysts forecast that Butterfly Network, Inc. will post -0.35 EPS for the current year.

Analyst Ratings Changes

BFLY has been the topic of a number of recent research reports. Lake Street Capital cut their price target on shares of Butterfly Network from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. William Blair began coverage on shares of Butterfly Network in a research note on Monday, March 17th. They set an “outperform” rating on the stock.

Institutional Investors Weigh In On Butterfly Network

Large investors have recently modified their holdings of the company. Ground Swell Capital LLC acquired a new position in shares of Butterfly Network during the fourth quarter worth $32,000. Total Wealth Planning & Management Inc. acquired a new position in shares of Butterfly Network during the 1st quarter worth about $25,000. TradeLink Capital LLC purchased a new position in shares of Butterfly Network in the 1st quarter valued at about $25,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Butterfly Network during the 4th quarter worth about $34,000. Finally, Verdence Capital Advisors LLC purchased a new stake in Butterfly Network during the fourth quarter worth approximately $41,000. 37.85% of the stock is owned by hedge funds and other institutional investors.

About Butterfly Network

Butterfly Network, Inc develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. It offers Butterfly iQ, a handheld and single-probe whole body ultrasound system; Butterfly iQ+ and iQ3 ultrasound devices that can perform whole-body imaging in a single handheld probe integrated with the clinical workflow, and accessible on a user's smartphone, tablet, and almost any hospital computer system; and Butterfly iQ+ Vet, a handheld ultrasound system designed for veterinarians.