Butterfly Network (NYSE:BFLY) Director Sells $309,546.16 in Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 100,502 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $3.08, for a total value of $309,546.16. Following the transaction, the director directly owned 1,140,007 shares in the company, valued at $3,511,221.56. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Butterfly Network Trading Down 4.2%

NYSE BFLY traded down $0.11 during mid-day trading on Wednesday, hitting $2.51. The company’s stock had a trading volume of 5,962,208 shares, compared to its average volume of 4,374,653. The firm has a market capitalization of $631.87 million, a price-to-earnings ratio of -7.61 and a beta of 2.65. The company’s 50 day simple moving average is $2.03 and its 200 day simple moving average is $2.02. Butterfly Network, Inc. has a twelve month low of $1.32 and a twelve month high of $4.98.

Butterfly Network (NYSE:BFLY) last released its quarterly earnings data on Friday, October 31st. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $21.49 million for the quarter, compared to the consensus estimate of $21.23 million. Butterfly Network had a negative net margin of 90.31% and a negative return on equity of 37.80%. Butterfly Network has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Butterfly Network, Inc. will post -0.35 EPS for the current year.

Institutional Investors Weigh In On Butterfly Network

Large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its position in shares of Butterfly Network by 270.5% in the first quarter. Acadian Asset Management LLC now owns 1,598,552 shares of the company’s stock valued at $3,642,000 after purchasing an additional 1,167,055 shares during the period. Principal Financial Group Inc. purchased a new position in Butterfly Network in the 1st quarter valued at approximately $708,000. Vanguard Group Inc. grew its stake in 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 buying an additional 1,161,647 shares in the last quarter. ARK Investment Management LLC raised its holdings in Butterfly Network by 16.8% during the 1st quarter. ARK Investment Management LLC now owns 7,023,980 shares of the company’s stock valued at $16,015,000 after acquiring an additional 1,012,460 shares during the period. Finally, Perkins Capital Management Inc. purchased a new stake in shares of Butterfly Network during the first quarter worth $627,000. Hedge funds and other institutional investors own 37.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, October 8th. Craig Hallum restated a “positive” rating and issued a $2.00 target price on shares of Butterfly Network in a report on Monday, August 4th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Butterfly Network in a report on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.00.

About Butterfly Network

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.