Butterfly Network (NYSE:BFLY) General Counsel Nicholas Caezza Sells 1,709 Shares

Butterfly Network, Inc. (NYSE:BFLY) General Counsel Nicholas Caezza sold 1,709 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $8.15, for a total transaction of $13,928.35. Following the sale, the general counsel directly owned 305,166 shares of the company’s stock, valued at $2,487,102.90. The trade was a 0.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nicholas Caezza also recently made the following trade(s):

• On Tuesday, August 11th, Nicholas Caezza sold 10,000 shares of Butterfly Network stock. The shares were sold at an average price of $9.75, for a total transaction of $97,500.00.

Butterfly Network Price Performance

NYSE BFLY opened at $7.33 on Friday. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -25.28 and a beta of 2.08. Butterfly Network, Inc. has a 12 month low of $1.47 and a 12 month high of $10.05. The company’s fifty day moving average price is $8.07 and its two-hundred day moving average price is $5.82.

Butterfly Network (NYSE:BFLY) last released its earnings results on Thursday, July 30th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. Butterfly Network had a negative net margin of 66.74% and a negative return on equity of 33.99%. The company had revenue of $32.61 million during the quarter, compared to the consensus estimate of $29.16 million. As a group, analysts anticipate that Butterfly Network, Inc. will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Butterfly Network

A number of large investors have recently bought and sold shares of the business. AWM Investment Company Inc. raised its position in shares of Butterfly Network by 750.0% during the 4th quarter. AWM Investment Company Inc. now owns 3,400,000 shares of the company’s stock worth $12,920,000 after purchasing an additional 3,000,000 shares during the period. California State Teachers Retirement System grew its stake in Butterfly Network by 18,362.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,957,928 shares of the company’s stock worth $16,486,000 after buying an additional 1,947,323 shares during the last quarter. Bank of America Corp DE increased its position in Butterfly Network by 71.0% in 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 during the period. First Light Asset Management LLC lifted its stake in Butterfly Network by 149.3% in the fourth quarter. First Light Asset Management LLC now owns 2,812,131 shares of the company’s stock valued at $10,686,000 after buying an additional 1,684,133 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Butterfly Network during the second quarter valued at $2,183,000. Institutional investors own 37.85% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Butterfly Network in a research report on Monday, August 3rd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.56.

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.