Butterfly Network (NYSE:BFLY) Director Sells $1,900,133.28 in Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 601,308 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $3.16, for a total value of $1,900,133.28. Following the transaction, the director owned 196,662 shares in the company, valued at approximately $621,451.92. This represents a 75.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Butterfly Network Trading Down 5.5%

Shares of BFLY stock traded down $0.19 during trading hours on Wednesday, reaching $3.16. The company’s stock had a trading volume of 4,671,238 shares, compared to its average volume of 4,587,112. The stock has a market capitalization of $796.95 million, a P/E ratio of -9.56 and a beta of 2.34. Butterfly Network, Inc. has a one year low of $1.32 and a one year high of $4.98. The firm’s fifty day simple moving average is $2.58 and its 200 day simple moving average is $2.11.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings results on Friday, October 31st. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $21.49 million during the quarter, compared to analyst estimates of $21.23 million. Butterfly Network had a negative return on equity of 37.80% and a negative net margin of 90.31%. As a group, equities research analysts forecast that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Butterfly Network from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.00.

Institutional Trading of Butterfly Network

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Butterfly Network by 114.7% in the second quarter. Geode Capital Management LLC now owns 4,339,362 shares of the company’s stock worth $8,680,000 after buying an additional 2,317,882 shares in the last quarter. First Light Asset Management LLC raised its holdings in 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 worth $12,553,000 after acquiring an additional 1,511,029 shares during the last quarter. Acadian Asset Management LLC lifted its position 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 valued at $3,642,000 after acquiring an additional 1,167,055 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Butterfly Network by 15.6% in the 1st quarter. Vanguard Group Inc. now owns 8,598,823 shares of the company’s stock worth $19,605,000 after purchasing an additional 1,161,647 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in shares of Butterfly Network in the second quarter worth $2,183,000. 37.85% of the stock is owned by hedge funds and other institutional investors.

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.