Butterfly Network (NYSE:BFLY) CTO Victor Ku Sells 35,968 Shares of Stock

Butterfly Network, Inc. (NYSE:BFLY) CTO Victor Ku sold 35,968 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $3.82, for a total value of $137,397.76. Following the completion of the sale, the chief technology officer owned 811,962 shares of the company’s stock, valued at $3,101,694.84. The trade was a 4.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Butterfly Network Stock Up 3.8%

Shares of BFLY stock opened at $4.22 on Thursday. Butterfly Network, Inc. has a 52-week low of $1.32 and a 52-week high of $4.98. The stock has a market cap of $1.06 billion, a PE ratio of -12.77 and a beta of 2.27. The business has a 50-day simple moving average of $3.06 and a 200-day simple moving average of $2.27.

Butterfly Network (NYSE:BFLY) last released its quarterly earnings results on Friday, October 31st. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $21.49 million during the quarter, compared to the consensus estimate of $21.23 million. Butterfly Network had a negative net margin of 90.31% and a negative return on equity of 37.80%. Sell-side analysts anticipate that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BFLY shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, October 8th. Loop Capital set a $5.00 price objective on Butterfly Network in a research report on Wednesday, December 31st. Finally, Wall Street Zen upgraded Butterfly Network from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Butterfly Network presently has a consensus rating of “Hold” and a consensus price target of $3.67.

Institutional Trading of Butterfly Network

Several large investors have recently added to or reduced their stakes in BFLY. Wisconsin Wealth Advisors LLC purchased a new position in shares of Butterfly Network during the fourth quarter valued at $38,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Butterfly Network during the second quarter worth $25,000. Ameriprise Financial Inc. bought a new stake in Butterfly Network during the third quarter valued at approximately $25,000. BNP Paribas Financial Markets raised its holdings in Butterfly Network by 707.2% in the second quarter. BNP Paribas Financial Markets now owns 16,258 shares of the company’s stock worth $33,000 after purchasing an additional 14,244 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Butterfly Network during the 3rd quarter valued at $32,000. 37.85% of the stock is owned by institutional investors and hedge funds.

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.