Insider Selling: Butterfly Network (NYSE:BFLY) Director Sells $2,206,458.66 in Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 674,758 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $3.27, for a total value of $2,206,458.66. Following the sale, the director owned 544,894 shares in the company, valued at $1,781,803.38. The trade was a 55.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Butterfly Network Stock Down 0.2%

BFLY stock opened at $3.08 on Friday. The company has a market cap of $776.75 million, a price-to-earnings ratio of -9.32 and a beta of 2.65. Butterfly Network, Inc. has a twelve month low of $1.32 and a twelve month high of $4.98. The business has a 50 day moving average price of $2.35 and a two-hundred day moving average price of $2.05.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings data on Friday, October 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $21.49 million for the quarter, compared to analysts’ expectations 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 research analysts anticipate that Butterfly Network, Inc. will post -0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Butterfly Network

A number of institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC lifted its holdings in Butterfly Network by 270.5% during the 1st quarter. Acadian Asset Management LLC now owns 1,598,552 shares of the company’s stock worth $3,642,000 after purchasing an additional 1,167,055 shares during the last quarter. Vanguard Group Inc. increased its position in Butterfly Network by 15.6% during the 1st quarter. Vanguard Group Inc. now owns 8,598,823 shares of the company’s stock worth $19,605,000 after buying an additional 1,161,647 shares during the period. Swiss National Bank bought a new position in Butterfly Network during the 1st quarter worth $618,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Butterfly Network during the first quarter worth $82,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Butterfly Network by 7.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,003,940 shares of the company’s stock valued at $2,289,000 after acquiring an additional 68,110 shares in the last quarter. Institutional investors own 37.85% of the company’s stock.

Wall Street Analyst Weigh In

BFLY has been the subject of a number of analyst reports. Oppenheimer reissued a “market perform” rating on shares of Butterfly Network in a research report on Friday, August 1st. Craig Hallum reiterated a “positive” rating and set a $2.00 price target on shares of Butterfly Network in a report on Monday, August 4th. Wall Street Zen upgraded Butterfly Network from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.00.

Butterfly Network Company Profile

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.