Butterfly Network (NYSE:BFLY) Director Sells $59,793.11 in Stock

by · The Cerbat Gem

Butterfly Network, Inc. (NYSE:BFLY – Get Free Report) Director Jonathan Rothberg sold 14,911 shares of the business’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $4.01, for a total value of $59,793.11. Following the completion of the sale, the director directly owned 1,140,180 shares of the company’s stock, valued at $4,572,121.80. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Butterfly Network Stock Down 1.7%

BFLY stock traded down $0.07 during trading on Monday, hitting $3.79. The company had a trading volume of 2,617,753 shares, compared to its average volume of 4,606,876. The firm has a 50-day moving average price of $2.79 and a 200-day moving average price of $2.18. Butterfly Network, Inc. has a 1-year low of $1.32 and a 1-year high of $4.98. The firm has a market cap of $956.09 million, a PE ratio of -11.47 and a beta of 2.34.

Butterfly Network (NYSE:BFLY – Get Free Report) last issued its earnings results on Friday, October 31st. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $21.49 million for the quarter, compared to analyst estimates of $21.23 million. Butterfly Network had a negative net margin of 90.31% and a negative return on equity of 37.80%. Sell-side analysts anticipate that Butterfly Network, Inc. will post -0.35 earnings per share for the current year.

Hedge Funds Weigh In On Butterfly Network

A number of institutional investors have recently modified their holdings of BFLY. Vanguard Group Inc. increased its position in shares of Butterfly Network by 4.3% during the third quarter. Vanguard Group Inc. now owns 11,040,080 shares of the company’s stock valued at $21,307,000 after purchasing an additional 453,258 shares during the period. First Light Asset Management LLC increased its position in Butterfly Network by 37.8% in the first quarter. First Light Asset Management LLC now owns 5,505,649 shares of the company’s stock worth $12,553,000 after purchasing an additional 1,511,029 shares during the period. Hood River Capital Management LLC lifted its stake in shares of Butterfly Network by 3.6% in the 2nd quarter. Hood River Capital Management LLC now owns 5,127,383 shares of the company’s stock valued at $10,255,000 after purchasing an additional 176,515 shares during the period. Geode Capital Management LLC increased its stake in shares of Butterfly Network by 114.7% in the 2nd quarter. Geode Capital Management LLC now owns 4,339,362 shares of the company’s stock valued at $8,680,000 after acquiring an additional 2,317,882 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Butterfly Network by 44.7% in the second quarter. Acadian Asset Management LLC now owns 2,313,316 shares of the company’s stock worth $4,624,000 after purchasing an additional 714,764 shares during the period. Institutional investors own 37.85% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports 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 restated a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, October 8th. Three 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.00.

View Our Latest Report on BFLY

About Butterfly Network

(Get Free Report)

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.

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