Insider Selling: Butterfly Network (NYSE:BFLY) Director Sells 442,539 Shares of Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 442,539 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $3.13, for a total value of $1,385,147.07. Following the sale, the director directly owned 797,970 shares of the company’s stock, valued at approximately $2,497,646.10. This represents a 35.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Butterfly Network Trading Down 9.3%

Shares of Butterfly Network stock traded down $0.32 on Wednesday, reaching $3.08. 5,768,635 shares of the company were exchanged, compared to its average volume of 8,262,429. Butterfly Network, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $4.98. The firm has a market capitalization of $776.75 million, a price-to-earnings ratio of -9.32 and a beta of 2.65. The stock has a fifty day moving average price of $2.31 and a 200-day moving average price of $2.04.

Butterfly Network (NYSE:BFLY) last released its quarterly earnings results on Friday, October 31st. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $21.49 million during the quarter, compared to analyst estimates of $21.23 million. Butterfly Network had a negative return on equity of 37.80% and a negative net margin of 90.31%. Butterfly Network has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

BFLY has been the topic of several analyst reports. Oppenheimer reissued a “market perform” rating on shares of Butterfly Network in a research report on Friday, August 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, October 8th. Craig Hallum reiterated a “positive” rating and set a $2.00 price objective on shares of Butterfly Network in a research report on Monday, August 4th. Finally, Wall Street Zen upgraded Butterfly Network from a “sell” rating to a “hold” rating in a report on Sunday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Butterfly Network presently has a consensus rating of “Hold” and a consensus price target of $3.00.

Institutional Investors Weigh In On Butterfly Network

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Butterfly Network by 4.3% in the third quarter. Vanguard Group Inc. now owns 11,040,080 shares of the company’s stock worth $21,307,000 after buying an additional 453,258 shares during the last quarter. First Light Asset Management LLC lifted its stake in Butterfly Network by 37.8% in the first quarter. First Light Asset Management LLC now owns 5,505,649 shares of the company’s stock valued at $12,553,000 after acquiring an additional 1,511,029 shares during the last quarter. Hood River Capital Management LLC grew its position in Butterfly Network by 3.6% in the second quarter. Hood River Capital Management LLC now owns 5,127,383 shares of the company’s stock worth $10,255,000 after acquiring an additional 176,515 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Butterfly Network by 114.7% during the 2nd quarter. Geode Capital Management LLC now owns 4,339,362 shares of the company’s stock worth $8,680,000 after purchasing an additional 2,317,882 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Butterfly Network by 44.7% during the 2nd quarter. Acadian Asset Management LLC now owns 2,313,316 shares of the company’s stock valued at $4,624,000 after purchasing an additional 714,764 shares in the last quarter. Institutional investors own 37.85% of the company’s stock.

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.