Victor Ku Sells 48,540 Shares of Butterfly Network (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) CTO Victor Ku sold 48,540 shares of the business’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $6.56, for a total transaction of $318,422.40. Following the completion of the transaction, the chief technology officer owned 1,015,099 shares in the company, valued at $6,659,049.44. The trade was a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Victor Ku also recently made the following trade(s):

• On Tuesday, July 7th, Victor Ku sold 35,649 shares of Butterfly Network stock. The shares were sold at an average price of $7.87, for a total transaction of $280,557.63.

Butterfly Network Stock Up 0.1%

NYSE:BFLY traded up $0.00 during trading hours on Tuesday, reaching $7.07. 1,379,999 shares of the stock were exchanged, compared to its average volume of 6,676,768. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -23.74 and a beta of 2.05. Butterfly Network, Inc. has a twelve month low of $1.32 and a twelve month high of $9.69. The business has a 50-day moving average of $6.42 and a two-hundred day moving average of $4.92.

Butterfly Network (NYSE:BFLY) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business had revenue of $26.53 million during the quarter, compared to analysts’ expectations of $26.08 million. Butterfly Network had a negative net margin of 73.63% and a negative return on equity of 34.41%. On average, research analysts forecast that Butterfly Network, Inc. will post -0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Butterfly Network by 4.9% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 42,500 shares of the company’s stock worth $358,000 after buying an additional 2,000 shares during the period. Principal Financial Group Inc. raised its holdings in Butterfly Network by 24.0% during the 1st quarter. Principal Financial Group Inc. now owns 14,247 shares of the company’s stock worth $58,000 after buying an additional 2,753 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Butterfly Network by 25.4% during the fourth quarter. Farther Finance Advisors LLC now owns 15,281 shares of the company’s stock worth $58,000 after buying an additional 3,098 shares during the period. Opal Wealth Advisors LLC grew its position in Butterfly Network by 10.1% in the fourth quarter. Opal Wealth Advisors LLC now owns 36,679 shares of the company’s stock valued at $139,000 after purchasing an additional 3,355 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in Butterfly Network by 11.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 55,517 shares of the company’s stock valued at $211,000 after purchasing an additional 5,500 shares during the last quarter. Institutional investors own 37.85% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.56.

Trending Headlines about Butterfly Network

Here are the key news stories impacting Butterfly Network this week:

• Positive Sentiment: Analysts are watching for continued momentum in Butterfly’s iQ3 handheld ultrasound system, Compass AI software adoption and growth in its Embedded business. Revenue is expected to increase approximately 21.5% in the second quarter, creating a potential catalyst if results and guidance meet or exceed expectations. Can AI Momentum and Embedded Growth Lift BFLY’s Q2 Results?
• Neutral Sentiment: Rothberg’s sales were conducted through pre-arranged 10b5-1 trading plans and were reportedly tied to estate planning, which reduces the likelihood that they reflect a negative view of Butterfly’s business. The company’s stock has also risen sharply over the past year, providing a possible explanation for the timing. Butterfly Network Founder Rothberg Sells Another 660,000 Shares. Should Investors Worry?
• Negative Sentiment: Rothberg sold approximately 3.79 million shares from July 17 through July 22 for about $25.0 million in total. The transactions reduced his direct ownership by roughly 95.7% from the July 17 filing and by 60.3% in the subsequent sale, leaving investors with a significant insider-selling signal and additional potential supply of shares.

Butterfly Network Company Profile

Butterfly Network, Inc is a medical technology company focused on democratizing access to diagnostic imaging through its proprietary ultrasound-on-chip platform. The company’s flagship device, the Butterfly iQ, leverages semiconductor technology to deliver whole-body ultrasound imaging in a handheld form factor. This portable system connects to a compatible smart device, enabling point-of-care scanning across a variety of clinical settings.

Beyond its hardware offering, Butterfly Network provides a cloud-based software suite that supports image storage, analysis and remote collaboration.