Jonathan Rothberg Sells 44,781 Shares of Butterfly Network (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 44,781 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $4.01, for a total transaction of $179,571.81. Following the sale, the director directly owned 1,157,764 shares in the company, valued at $4,642,633.64. The trade was a 3.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Butterfly Network Stock Performance

Shares of NYSE BFLY opened at $3.82 on Wednesday. Butterfly Network, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $4.98. The stock has a market cap of $963.67 million, a PE ratio of -11.56 and a beta of 2.34. The stock has a fifty day moving average of $2.85 and a 200-day moving average of $2.20.

Butterfly Network (NYSE:BFLY) last issued its earnings results on Friday, October 31st. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The business 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%. On average, sell-side analysts predict that Butterfly Network, Inc. will post -0.35 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on BFLY. Wall Street Zen upgraded shares of Butterfly Network from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Loop Capital set a $5.00 price objective on Butterfly Network in a research report on Wednesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Butterfly Network in a research 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.67.

Institutional Trading of Butterfly Network

A number of hedge funds have recently made changes to their positions in BFLY. Acadian Asset Management LLC boosted its stake in shares of Butterfly Network by 270.5% in the 1st 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 in the last quarter. Geode Capital Management LLC lifted its stake in Butterfly Network by 114.7% in the second quarter. Geode Capital Management LLC now owns 4,339,362 shares of the company’s stock worth $8,680,000 after purchasing an additional 2,317,882 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Butterfly Network by 7.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,003,940 shares of the company’s stock valued at $2,289,000 after buying an additional 68,110 shares during the period. Blair William & Co. IL grew its stake in shares of Butterfly Network by 14.5% during the second quarter. Blair William & Co. IL now owns 118,500 shares of the company’s stock valued at $237,000 after buying an additional 15,000 shares during the last quarter. Finally, AWM Investment Company Inc. bought a new position in shares of Butterfly Network during the first quarter valued at about $2,280,000. 37.85% of the stock is owned by institutional investors.

About Butterfly Network

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.