Butterfly Network (NYSE:BFLY) EVP Sells $239,524.36 in Stock

Butterfly Network, Inc. (NYSE:BFLY) EVP John Doherty sold 60,182 shares of Butterfly Network stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $3.98, for a total transaction of $239,524.36. Following the sale, the executive vice president directly owned 1,234,688 shares of the company’s stock, valued at $4,914,058.24. This represents a 4.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Butterfly Network Stock Performance

BFLY traded down $0.13 during trading on Friday, hitting $4.03. 4,622,162 shares of the stock were exchanged, compared to its average volume of 4,449,240. The firm has a 50 day simple moving average of $3.10 and a 200 day simple moving average of $2.29. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -12.20 and a beta of 2.27. Butterfly Network, Inc. has a 1 year low of $1.32 and a 1 year high of $4.98.

Butterfly Network (NYSE:BFLY) last issued its earnings results on Friday, October 31st. The company reported ($0.04) earnings per share 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 analysts’ expectations of $21.23 million. Butterfly Network had a negative return on equity of 37.80% and a negative net margin of 90.31%. As a group, equities analysts anticipate that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BFLY has been the subject of several research reports. Wall Street Zen raised shares of Butterfly Network from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, October 8th. Finally, Loop Capital set a $5.00 price target on Butterfly Network in a research report on Wednesday, December 31st. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.67.

Hedge Funds Weigh In On Butterfly Network

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in Butterfly Network in the 2nd quarter worth approximately $25,000. Ameriprise Financial Inc. purchased a new position in Butterfly Network in the 3rd quarter worth $25,000. Y Intercept Hong Kong Ltd acquired a new stake in Butterfly Network during the 3rd quarter worth about $32,000. BNP Paribas Financial Markets lifted its position in Butterfly Network by 707.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 16,258 shares of the company’s stock worth $33,000 after acquiring an additional 14,244 shares during the period. Finally, Wisconsin Wealth Advisors LLC purchased a new stake in Butterfly Network during the 4th quarter valued at about $38,000. 37.85% of the stock is owned by hedge funds and other institutional investors.

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.