Butterfly Network (NYSE:BFLY) Director Sells $2,515,699.29 in Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 769,327 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $3.27, for a total value of $2,515,699.29. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Butterfly Network Stock Performance

Shares of NYSE:BFLY traded down $0.06 during midday trading on Wednesday, hitting $3.05. 4,104,216 shares of the company’s stock traded hands, compared to its average volume of 6,183,907. The firm’s fifty day moving average price is $2.51 and its two-hundred day moving average price is $2.09. Butterfly Network, Inc. has a twelve month low of $1.32 and a twelve month high of $4.98. The company has a market cap of $769.17 million, a PE ratio of -9.23 and a beta of 2.34.

Butterfly Network (NYSE:BFLY) last announced its earnings results on Friday, October 31st. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. Butterfly Network had a negative net margin of 90.31% and a negative return on equity of 37.80%. The business had revenue of $21.49 million during the quarter, compared to the consensus estimate of $21.23 million. As a group, equities research analysts anticipate that Butterfly Network, Inc. will post -0.35 EPS for the current fiscal year.

Institutional Trading of Butterfly Network

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Butterfly Network by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,040,080 shares of the company’s stock worth $21,307,000 after acquiring an additional 453,258 shares during the period. First Light Asset Management LLC lifted its position in shares of 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 worth $12,553,000 after purchasing an additional 1,511,029 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in shares of Butterfly Network by 3.6% during the second quarter. Hood River Capital Management LLC now owns 5,127,383 shares of the company’s stock worth $10,255,000 after purchasing an additional 176,515 shares during the period. Geode Capital Management LLC grew its position in Butterfly Network by 114.7% during the second quarter. Geode Capital Management LLC now owns 4,339,362 shares of the company’s stock valued at $8,680,000 after purchasing an additional 2,317,882 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Butterfly Network by 44.7% in the 2nd quarter. Acadian Asset Management LLC now owns 2,313,316 shares of the company’s stock valued at $4,624,000 after buying an additional 714,764 shares during the period. 37.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BFLY shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Butterfly Network from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Butterfly Network currently has a consensus 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.