Butterfly Network (NYSE:BFLY) Director Dawn Carfora Sells 112,009 Shares of Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Dawn Carfora sold 112,009 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $2.69, for a total value of $301,304.21. Following the sale, the director directly owned 265,505 shares of the company’s stock, valued at $714,208.45. The trade was a 29.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Butterfly Network Price Performance

Shares of Butterfly Network stock opened at $2.51 on Thursday. The business has a 50-day moving average of $2.04 and a 200 day moving average of $2.03. Butterfly Network, Inc. has a 12 month low of $1.32 and a 12 month high of $4.98. The stock has a market capitalization of $631.87 million, a price-to-earnings ratio of -7.61 and a beta of 2.65.

Butterfly Network (NYSE:BFLY) last announced its earnings results on Friday, October 31st. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates 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. Butterfly Network has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Butterfly Network, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Butterfly Network

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings 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. acquired a new position in shares of Butterfly Network in the first quarter valued at approximately $708,000. Vanguard Group Inc. increased its holdings in shares of Butterfly Network by 15.6% in the first quarter. Vanguard Group Inc. now owns 8,598,823 shares of the company’s stock valued at $19,605,000 after purchasing an additional 1,161,647 shares during the period. ARK Investment Management LLC increased its holdings in shares of Butterfly Network by 16.8% in the first quarter. ARK Investment Management LLC now owns 7,023,980 shares of the company’s stock valued at $16,015,000 after purchasing an additional 1,012,460 shares during the period. Finally, Perkins Capital Management Inc. acquired a new position in shares of Butterfly Network in the first quarter valued at approximately $627,000. Hedge funds and other institutional investors own 37.85% of the company’s stock.

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.