Insider Selling: Butterfly Network, Inc. (NYSE:BFLY) CFO Sells 30,136 Shares of Stock

Butterfly Network, Inc. (NYSE:BFLY) CFO Heather C. Getz sold 30,136 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $3.06, for a total value of $92,216.16. Following the transaction, the chief financial officer now directly owns 2,669,333 shares of the company’s stock, valued at approximately $8,168,158.98. This trade represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Butterfly Network Trading Up 1.8 %

BFLY stock opened at $3.46 on Friday. The company’s 50-day moving average price is $2.83 and its 200 day moving average price is $1.82. Butterfly Network, Inc. has a 52 week low of $0.67 and a 52 week high of $3.78. The company has a market cap of $737.19 million, a P/E ratio of -7.52 and a beta of 2.46.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings results on Friday, November 1st. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.25%. The business had revenue of $20.56 million for the quarter, compared to analyst estimates of $19.12 million. During the same quarter in the previous year, the company earned ($0.13) EPS. On average, equities research analysts expect that Butterfly Network, Inc. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

Separately, Lake Street Capital initiated coverage on Butterfly Network in a report on Tuesday, September 10th. They issued a “buy” rating and a $3.00 target price for the company.

Institutional Trading of Butterfly Network

Several large investors have recently modified their holdings of BFLY. Hartline Investment Corp raised its position in shares of Butterfly Network by 87.0% during the 3rd quarter. Hartline Investment Corp now owns 21,500 shares of the company’s stock worth $38,000 after purchasing an additional 10,000 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in Butterfly Network during the third quarter worth $44,000. Barclays PLC raised its holdings in shares of Butterfly Network by 27,790.0% in the third quarter. Barclays PLC now owns 25,101 shares of the company’s stock worth $44,000 after acquiring an additional 25,011 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Butterfly Network in the third quarter valued at $57,000. Finally, Point72 DIFC Ltd boosted its stake in shares of Butterfly Network by 1,271.4% during the second quarter. Point72 DIFC Ltd now owns 77,418 shares of the company’s stock valued at $65,000 after acquiring an additional 71,773 shares during the last quarter. 37.85% of the stock is currently owned by institutional investors and hedge funds.

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.