Butterfly Network (NYSE:BFLY) Director Sells $904,313.34 in Stock

by · The Markets Daily

Butterfly Network, Inc. (NYSE:BFLY – Get Free Report) Director Jonathan Rothberg sold 288,918 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $3.13, for a total value of $904,313.34. Following the transaction, the director owned 255,976 shares of the company’s stock, valued at approximately $801,204.88. This trade represents a 53.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Butterfly Network Trading Down 2.6%

NYSE BFLY traded down $0.08 on Friday, reaching $3.00. 4,075,836 shares of the stock were exchanged, compared to its average volume of 4,561,323. Butterfly Network, Inc. has a one year low of $1.32 and a one year high of $4.98. The firm has a market capitalization of $757.80 million, a PE ratio of -9.09 and a beta of 2.34. The company’s 50-day simple moving average is $2.53 and its two-hundred day simple moving average is $2.10.

Butterfly Network (NYSE:BFLY – Get Free Report) last announced its quarterly earnings data on Friday, October 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $21.49 million during the quarter, compared to analysts’ expectations 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 forecast that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Butterfly Network

A number of institutional investors and hedge funds have recently made changes to their positions in BFLY. Vanguard Group Inc. increased its holdings in shares of Butterfly Network by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,040,080 shares of the company’s stock worth $21,307,000 after buying an additional 453,258 shares during the last quarter. First Light Asset Management LLC lifted its holdings in shares of 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 valued at $12,553,000 after acquiring an additional 1,511,029 shares during the last quarter. Hood River Capital Management LLC grew its position in Butterfly Network by 3.6% in the second quarter. Hood River Capital Management LLC now owns 5,127,383 shares of the company’s stock worth $10,255,000 after acquiring an additional 176,515 shares in the last quarter. Geode Capital Management LLC increased its stake in Butterfly Network by 114.7% during the second quarter. Geode Capital Management LLC now owns 4,339,362 shares of the company’s stock worth $8,680,000 after acquiring an additional 2,317,882 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in Butterfly Network by 44.7% during the second quarter. Acadian Asset Management LLC now owns 2,313,316 shares of the company’s stock worth $4,624,000 after acquiring an additional 714,764 shares during the last quarter. 37.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Report on Butterfly Network

Butterfly Network Company Profile

(Get Free Report)

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.

Featured Stories