Butterfly Network (NYSE:BFLY) Director Sells $595,342.44 in Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 193,293 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $3.08, for a total transaction of $595,342.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Butterfly Network Trading Down 2.6%

BFLY traded down $0.08 during trading on Friday, reaching $3.00. 4,075,836 shares of the company were exchanged, compared to its average volume of 4,561,323. Butterfly Network, Inc. has a 52 week low of $1.32 and a 52 week high of $4.98. The stock has a market cap of $757.80 million, a P/E ratio of -9.09 and a beta of 2.34. The firm has a 50 day moving average of $2.53 and a 200 day moving average of $2.10.

Butterfly Network (NYSE:BFLY) last released its quarterly earnings results on Friday, October 31st. The company reported ($0.04) EPS for the quarter, topping 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 analyst estimates of $21.23 million. As a group, analysts forecast that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 acquiring an additional 453,258 shares in the last quarter. First Light Asset Management LLC boosted its position in shares of Butterfly Network by 37.8% during the 1st quarter. First Light Asset Management LLC now owns 5,505,649 shares of the company’s stock valued at $12,553,000 after purchasing an additional 1,511,029 shares in the last quarter. Hood River Capital Management LLC grew its stake in shares of Butterfly Network by 3.6% in the 2nd 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 last quarter. Geode Capital Management LLC raised its holdings in shares of Butterfly Network by 114.7% in 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 in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Butterfly Network by 44.7% during the second 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 during the last quarter. Institutional investors own 37.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BFLY shares. Weiss Ratings restated 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 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.00.

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.