Jonathan Rothberg Sells 1,110,579 Shares of Butterfly Network (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 1,110,579 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $3.15, for a total transaction of $3,498,323.85. Following the sale, the director directly owned 769,814 shares of the company’s stock, valued at approximately $2,424,914.10. This represents a 59.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Butterfly Network Stock Down 9.3%

BFLY traded down $0.32 during trading on Wednesday, reaching $3.08. The company’s stock had a trading volume of 5,768,635 shares, compared to its average volume of 8,262,429. The firm has a fifty day simple moving average of $2.31 and a two-hundred day simple moving average of $2.04. The company has a market cap of $776.75 million, a price-to-earnings ratio of -9.32 and a beta of 2.65. Butterfly Network, Inc. has a 1 year low of $1.32 and a 1 year high of $4.98.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings data on Friday, October 31st. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 37.80% and a negative net margin of 90.31%. Butterfly Network has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Butterfly Network, Inc. will post -0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. TradeLink Capital LLC purchased a new position in shares of Butterfly Network in the 1st quarter valued at about $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in Butterfly Network during the second quarter worth approximately $25,000. CTC Alternative Strategies Ltd. acquired a new position in Butterfly Network in the first quarter valued at approximately $29,000. Ameriprise Financial Inc. purchased a new position in Butterfly Network in the third quarter valued at approximately $25,000. Finally, Deutsche Bank AG purchased a new position in Butterfly Network in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 37.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BFLY shares. Wall Street Zen upgraded shares of Butterfly Network from a “sell” rating to a “hold” rating in a research report on Sunday. Weiss Ratings reissued a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, October 8th. Craig Hallum reaffirmed a “positive” rating and set a $2.00 price target on shares of Butterfly Network in a research report on Monday, August 4th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Butterfly Network in a research report on Friday, August 1st. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Butterfly Network presently has an average rating of “Hold” and an average price target 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.