Butterfly Network (NYSE:BFLY) Director Sells $904,313.34 in Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 288,918 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $3.13, for a total value of $904,313.34. Following the transaction, the director owned 255,976 shares of the company’s stock, valued at approximately $801,204.88. This trade represents a 53.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Butterfly Network Trading Down 2.6%

NYSE BFLY traded down $0.08 on Friday, reaching $3.00. 4,075,836 shares of the stock were exchanged, compared to its average volume of 4,561,323. Butterfly Network, Inc. has a one year low of $1.32 and a one year high of $4.98. The firm has a market capitalization of $757.80 million, a PE ratio of -9.09 and a beta of 2.34. The company’s 50-day simple moving average is $2.53 and its two-hundred day simple moving average is $2.10.

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 firm had revenue of $21.49 million during the quarter, compared to analysts’ expectations of $21.23 million. Butterfly Network had a negative net margin of 90.31% and a negative return on equity of 37.80%. Sell-side analysts forecast that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Butterfly Network

A number of institutional investors and hedge funds have recently made changes to their positions in BFLY. Vanguard Group Inc. increased its holdings in shares of Butterfly Network by 4.3% in the 3rd 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 holdings in shares of Butterfly Network by 37.8% in 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 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 Butterfly Network by 114.7% during the second quarter. Geode Capital Management LLC now owns 4,339,362 shares of the company’s stock worth $8,680,000 after acquiring an additional 2,317,882 shares during the last quarter. Finally, Acadian Asset Management LLC increased 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 worth $4,624,000 after acquiring an additional 714,764 shares during the last quarter. 37.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BFLY has been the subject of a number of recent analyst reports. Wall Street Zen raised Butterfly Network from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Butterfly Network in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Butterfly Network has a consensus rating of “Hold” and an average 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.