Butterfly Network (NYSE:BFLY) General Counsel Sells $13,928.35 in Stock

Butterfly Network, Inc. (NYSE:BFLY) General Counsel Nicholas Caezza sold 1,709 shares of Butterfly Network stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $8.15, for a total value of $13,928.35. Following the sale, the general counsel owned 305,166 shares of the company’s stock, valued at approximately $2,487,102.90. This trade represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nicholas Caezza also recently made the following trade(s):

• On Tuesday, August 11th, Nicholas Caezza sold 10,000 shares of Butterfly Network stock. The stock was sold at an average price of $9.75, for a total transaction of $97,500.00.

Butterfly Network Trading Down 0.4%

NYSE BFLY opened at $7.33 on Monday. The stock has a market cap of $1.95 billion, a PE ratio of -25.28 and a beta of 2.08. Butterfly Network, Inc. has a 12 month low of $1.47 and a 12 month high of $10.05. The company’s 50-day moving average price is $8.07 and its 200-day moving average price is $5.84.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $32.61 million during the quarter, compared to analyst estimates of $29.16 million. Butterfly Network had a negative net margin of 66.74% and a negative return on equity of 33.99%. As a group, sell-side analysts forecast that Butterfly Network, Inc. will post -0.18 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Butterfly Network in a report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.56.

Institutional Trading of Butterfly Network

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in Butterfly Network by 4.9% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 42,500 shares of the company’s stock valued at $358,000 after acquiring an additional 2,000 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Butterfly Network by 11.5% during the second quarter. HighTower Advisors LLC now owns 20,430 shares of the company’s stock worth $172,000 after purchasing an additional 2,110 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Butterfly Network by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,326 shares of the company’s stock valued at $466,000 after purchasing an additional 2,125 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Butterfly Network by 24.0% during the 1st quarter. Principal Financial Group Inc. now owns 14,247 shares of the company’s stock valued at $58,000 after purchasing an additional 2,753 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Butterfly Network by 25.4% in the 4th quarter. Farther Finance Advisors LLC now owns 15,281 shares of the company’s stock worth $58,000 after purchasing an additional 3,098 shares in the last quarter. 37.85% of the stock is currently owned by institutional investors.

About Butterfly Network

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.