Butterfly Network (NYSE:BFLY) CTO Victor Ku Sells 48,540 Shares of Stock

Butterfly Network, Inc. (NYSE:BFLY) CTO Victor Ku sold 48,540 shares of Butterfly Network stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $6.56, for a total value of $318,422.40. Following the transaction, the chief technology officer directly owned 1,015,099 shares in the company, valued at approximately $6,659,049.44. The trade was a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Victor Ku also recently made the following trade(s):

• On Tuesday, July 7th, Victor Ku sold 35,649 shares of Butterfly Network stock. The shares were sold at an average price of $7.87, for a total transaction of $280,557.63.

Butterfly Network Price Performance

Shares of BFLY opened at $7.20 on Wednesday. The firm’s 50 day moving average is $6.48 and its 200-day moving average is $4.94. Butterfly Network, Inc. has a 12-month low of $1.32 and a 12-month high of $9.69. The stock has a market capitalization of $1.83 billion, a P/E ratio of -24.01 and a beta of 2.05.

Butterfly Network (NYSE:BFLY) last released its earnings results on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $26.53 million during the quarter, compared to analyst estimates of $26.08 million. Butterfly Network had a negative net margin of 73.63% and a negative return on equity of 34.41%. As a group, equities research analysts forecast that Butterfly Network, Inc. will post -0.18 EPS for the current fiscal year.

Trending Headlines about Butterfly Network

Here are the key news stories impacting Butterfly Network this week:

• Positive Sentiment: Investor focus is turning to Butterfly Network’s upcoming second-quarter results. Revenue is projected to increase 21.5%, supported by demand for the iQ3 ultrasound system, broader Compass AI adoption and growth in the company’s Embedded business. Strong execution in these areas could reinforce the stock’s recent rally. Can AI Momentum and Embedded Growth Lift BFLY’s Q2 Results?
• Neutral Sentiment: CEO Joseph DeVivo, EVP John N. Doherty and CTO Victor Ku collectively sold approximately 317,000 shares at about $6.56 per share. The transactions were made to cover tax-withholding obligations tied to vested equity awards, which makes them less indicative of a bearish view; the executives continue to hold substantial stakes. SEC filing for executive transactions
• Negative Sentiment: Founder and Director Jonathan Rothberg sold roughly 3.8 million shares for approximately $25.0 million between July 17 and July 22, substantially reducing his direct ownership. Although the sales were executed under a pre-arranged Rule 10b5-1 plan and described as related to estate planning, their size may create overhang and raise investor concerns about insider conviction after BFLY’s large one-year advance. Butterfly Network Founder Rothberg Sells Another 660,000 Shares

Hedge Funds Weigh In On Butterfly Network

A number of hedge funds have recently modified their holdings of BFLY. Invesco Ltd. purchased a new stake in shares of Butterfly Network during the first quarter worth $85,000. Goldman Sachs Group Inc. boosted its position in Butterfly Network by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 756,426 shares of the company’s stock valued at $1,725,000 after purchasing an additional 29,958 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Butterfly Network by 9,055.9% in the second quarter. JPMorgan Chase & Co. now owns 92,017 shares of the company’s stock valued at $184,000 after purchasing an additional 91,012 shares in the last quarter. Legal & General Group Plc grew its stake in Butterfly Network by 136.5% in the second quarter. Legal & General Group Plc now owns 206,985 shares of the company’s stock valued at $414,000 after purchasing an additional 119,455 shares in the last quarter. Finally, Rhumbline Advisers acquired a new position in Butterfly Network in the 2nd quarter worth about $475,000. 37.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Butterfly Network currently has an average rating of “Hold” and a consensus price target of $5.56.

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.