Jonathan Rothberg Sells 176,070 Shares of Butterfly Network (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 176,070 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $3.11, for a total transaction of $547,577.70. Following the completion of the transaction, the director owned 111,031 shares in the company, valued at $345,306.41. This trade represents a 61.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Butterfly Network Trading Down 1.8%

NYSE BFLY traded down $0.06 during trading hours 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 business’s fifty day moving average price is $2.51 and its two-hundred day moving average price is $2.09. The firm has a market capitalization of $769.17 million, a P/E ratio of -9.23 and a beta of 2.34. Butterfly Network, Inc. has a 52 week low of $1.32 and a 52 week high of $4.98.

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, topping the consensus estimate of ($0.06) by $0.02. The business had revenue of $21.49 million for the quarter, compared to the consensus estimate of $21.23 million. Butterfly Network had a negative net margin of 90.31% and a negative return on equity of 37.80%. On average, sell-side analysts expect that Butterfly Network, Inc. will post -0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in 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 Butterfly Network from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.00.

Institutional Investors Weigh In On Butterfly Network

Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its stake in Butterfly Network by 270.5% in the 1st quarter. Acadian Asset Management LLC now owns 1,598,552 shares of the company’s stock worth $3,642,000 after acquiring an additional 1,167,055 shares during the last quarter. Geode Capital Management LLC boosted its position 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 valued at $8,680,000 after acquiring an additional 2,317,882 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Butterfly Network by 15.6% in the first quarter. Vanguard Group Inc. now owns 8,598,823 shares of the company’s stock valued at $19,605,000 after purchasing an additional 1,161,647 shares in the last quarter. Swiss National Bank bought a new stake in Butterfly Network in the first quarter worth $618,000. Finally, Charles Schwab Investment Management Inc. increased its position in 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 worth $2,289,000 after purchasing an additional 68,110 shares during the last quarter. 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.