Butterfly Network (NYSE:BFLY) EVP John Doherty Sells 57,136 Shares of Stock

Butterfly Network, Inc. (NYSE:BFLY) EVP John Doherty sold 57,136 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $6.56, for a total transaction of $374,812.16. Following the completion of the sale, the executive vice president directly owned 1,397,276 shares in the company, valued at approximately $9,166,130.56. The trade was a 3.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Butterfly Network Trading Up 1.9%

NYSE:BFLY opened at $7.20 on Wednesday. The company has a market capitalization of $1.83 billion, a P/E ratio of -24.01 and a beta of 2.05. The firm has a 50-day moving average price of $6.48 and a two-hundred day moving average price of $4.94. Butterfly Network, Inc. has a twelve month low of $1.32 and a twelve month high of $9.69.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $26.53 million for the quarter, compared to the consensus estimate of $26.08 million. Butterfly Network had a negative net margin of 73.63% and a negative return on equity of 34.41%. On average, equities research analysts predict that Butterfly Network, Inc. will post -0.18 earnings per share for the current year.

Key Butterfly Network News

Here are the key news stories impacting Butterfly Network this week:

• Positive Sentiment: Investor focus is turning to Butterfly Network’s upcoming second-quarter results. Revenue is projected to increase 21.5%, supported by demand for the iQ3 ultrasound system, broader Compass AI adoption and growth in the company’s Embedded business. Strong execution in these areas could reinforce the stock’s recent rally. Can AI Momentum and Embedded Growth Lift BFLY’s Q2 Results?
• Neutral Sentiment: CEO Joseph DeVivo, EVP John N. Doherty and CTO Victor Ku collectively sold approximately 317,000 shares at about $6.56 per share. The transactions were made to cover tax-withholding obligations tied to vested equity awards, which makes them less indicative of a bearish view; the executives continue to hold substantial stakes. SEC filing for executive transactions
• Negative Sentiment: Founder and Director Jonathan Rothberg sold roughly 3.8 million shares for approximately $25.0 million between July 17 and July 22, substantially reducing his direct ownership. Although the sales were executed under a pre-arranged Rule 10b5-1 plan and described as related to estate planning, their size may create overhang and raise investor concerns about insider conviction after BFLY’s large one-year advance. Butterfly Network Founder Rothberg Sells Another 660,000 Shares

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.56.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Butterfly Network by 4.3% in the 3rd 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 in the last quarter. ARK Investment Management LLC boosted its stake in shares of Butterfly Network by 1.6% during the 4th quarter. ARK Investment Management LLC now owns 6,244,427 shares of the company’s stock worth $23,729,000 after purchasing an additional 99,079 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Butterfly Network by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 4,679,120 shares of the company’s stock worth $17,785,000 after buying an additional 75,243 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Butterfly Network by 71.0% during the first quarter. Bank of America Corp DE now owns 4,165,222 shares of the company’s stock worth $16,827,000 after buying an additional 1,728,938 shares in the last quarter. Finally, AWM Investment Company Inc. raised its position in shares of Butterfly Network by 750.0% in the fourth quarter. AWM Investment Company Inc. now owns 3,400,000 shares of the company’s stock valued at $12,920,000 after buying an additional 3,000,000 shares during the last quarter. Institutional investors and hedge funds own 37.85% of the company’s stock.

Butterfly Network Company Profile

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.