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

Butterfly Network, Inc. (NYSE:BFLY) Director Dawn Carfora sold 112,009 shares of the stock in a transaction on 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 owned 265,505 shares of the company’s stock, valued at approximately $714,208.45. This represents a 29.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Butterfly Network Price Performance

Shares of NYSE BFLY opened at $2.25 on Friday. Butterfly Network, Inc. has a one year low of $1.32 and a one year high of $4.98. The business’s 50-day moving average price is $2.06 and its two-hundred day moving average price is $2.03. The company has a market capitalization of $566.42 million, a P/E ratio of -6.82 and a beta of 2.65.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in Butterfly Network by 33.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,177 shares of the company’s stock worth $46,000 after acquiring an additional 5,010 shares during the period. Teacher Retirement System of Texas grew its position in shares of Butterfly Network by 45.2% in the second quarter. Teacher Retirement System of Texas now owns 27,811 shares of the company’s stock valued at $56,000 after purchasing an additional 8,657 shares during the last quarter. Lazari Capital Management Inc. increased its stake in shares of Butterfly Network by 53.1% in the second quarter. Lazari Capital Management Inc. now owns 28,661 shares of the company’s stock worth $57,000 after purchasing an additional 9,941 shares during the period. Levin Capital Strategies L.P. lifted its position in shares of Butterfly Network by 16.7% during the 2nd quarter. Levin Capital Strategies L.P. now owns 70,000 shares of the company’s stock worth $140,000 after purchasing an additional 10,000 shares during the last quarter. Finally, TradeLink Capital LLC acquired a new position in shares of Butterfly Network during the 1st quarter worth about $25,000. 37.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BFLY has been the subject of several recent research reports. Craig Hallum reissued a “positive” rating and issued a $2.00 target price on shares of Butterfly Network in a research report on Monday, August 4th. Oppenheimer reiterated a “market perform” rating on shares of Butterfly Network in a report on Friday, August 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Butterfly Network in a report on Wednesday, October 8th. Three research 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 stock currently has an average 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.