Jonathan Rothberg Sells 284,986 Shares of Butterfly Network (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 284,986 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $3.14, for a total transaction of $894,856.04. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Butterfly Network Trading Down 5.5%

NYSE BFLY traded down $0.19 during trading on Wednesday, hitting $3.16. The company had a trading volume of 4,671,238 shares, compared to its average volume of 4,587,112. The company’s fifty day moving average is $2.58 and its 200-day moving average is $2.11. Butterfly Network, Inc. has a one year low of $1.32 and a one year high of $4.98. The company has a market cap of $796.95 million, a price-to-earnings ratio of -9.56 and a beta of 2.34.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings results on Friday, October 31st. The company reported ($0.04) earnings per share (EPS) 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 company had revenue of $21.49 million for the quarter, compared to analysts’ expectations of $21.23 million. As a group, equities analysts anticipate that Butterfly Network, Inc. will post -0.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BFLY shares. Wall Street Zen upgraded 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 research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Butterfly Network presently has a consensus rating of “Hold” and a consensus price target of $3.00.

Institutional Investors Weigh In On Butterfly Network

A number of institutional investors have recently modified their holdings of BFLY. Ashton Thomas Private Wealth LLC bought a new position in shares of Butterfly Network during the second quarter valued at $25,000. Ameriprise Financial Inc. purchased a new stake in Butterfly Network during the 3rd quarter valued at about $25,000. CTC Alternative Strategies Ltd. purchased a new stake in Butterfly Network during the 1st quarter valued at about $29,000. Deutsche Bank AG bought a new stake in Butterfly Network during the 1st quarter valued at about $31,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Butterfly Network in the third quarter worth about $32,000. 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.