Butterfly Network (NYSE:BFLY) Director Sells $595,342.44 in Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 193,293 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $3.08, for a total transaction of $595,342.44. The transaction was disclosed in a filing with the SEC, which is available through this link.

Butterfly Network Price Performance

BFLY stock opened at $3.00 on Monday. The company has a 50 day moving average price of $2.55 and a 200 day moving average price of $2.10. Butterfly Network, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $4.98. The stock has a market capitalization of $757.80 million, a PE ratio of -9.09 and a beta of 2.34.

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

Institutional Trading of Butterfly Network

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position 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 valued at $19,605,000 after acquiring an additional 1,161,647 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Butterfly Network by 7.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,003,940 shares of the company’s stock worth $2,289,000 after purchasing an additional 68,110 shares during the period. Deutsche Bank AG acquired a new stake in Butterfly Network in the first quarter worth $31,000. Swiss National Bank bought a new position in shares of Butterfly Network during the first quarter worth $618,000. Finally, Invesco Ltd. acquired a new position in shares of Butterfly Network in the 1st quarter valued at $85,000. 37.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BFLY shares. Wall Street Zen upgraded shares of Butterfly Network from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Butterfly Network in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.00.

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.