Butterfly Network (NYSE:BFLY) Director Jonathan Rothberg Sells 351,617 Shares

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 351,617 shares of Butterfly Network stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $4.03, for a total value of $1,417,016.51. Following the completion of the sale, the director directly owned 788,563 shares in the company, valued at $3,177,908.89. This represents a 30.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Butterfly Network Price Performance

NYSE BFLY traded down $0.07 during mid-day trading on Thursday, hitting $4.14. The stock had a trading volume of 4,214,109 shares, compared to its average volume of 4,413,088. The firm’s 50 day moving average is $3.06 and its 200 day moving average is $2.27. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -12.53 and a beta of 2.27. Butterfly Network, Inc. has a twelve month low of $1.32 and a twelve month high of $4.98.

Butterfly Network (NYSE:BFLY) last announced its earnings results on Friday, October 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $21.49 million for the quarter, compared to analysts’ expectations of $21.23 million. Butterfly Network had a negative net margin of 90.31% and a negative return on equity of 37.80%. As a group, equities research analysts expect that Butterfly Network, Inc. will post -0.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

BFLY has been the topic of a number of research reports. Wall Street Zen raised 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 target on Butterfly Network in a report on Wednesday, December 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, October 8th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.67.

Hedge Funds Weigh In On Butterfly Network

Several large investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of Butterfly Network during the 2nd quarter worth $25,000. Ameriprise Financial Inc. purchased a new stake in Butterfly Network in the 3rd quarter valued at about $25,000. Y Intercept Hong Kong Ltd purchased a new position in Butterfly Network during the third quarter worth about $32,000. BNP Paribas Financial Markets boosted its stake in Butterfly Network by 707.2% during the second quarter. BNP Paribas Financial Markets now owns 16,258 shares of the company’s stock worth $33,000 after buying an additional 14,244 shares during the period. Finally, Wisconsin Wealth Advisors LLC acquired a new stake in shares of Butterfly Network during the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 37.85% of the company’s stock.

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.