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 transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Butterfly Network Stock Down 1.7%

NYSE:BFLY traded down $0.07 during trading hours on Monday, reaching $3.79. The company had a trading volume of 2,617,703 shares, compared to its average volume of 4,606,873. Butterfly Network, Inc. has a twelve month low of $1.32 and a twelve month high of $4.98. The firm has a market cap of $956.09 million, a price-to-earnings ratio of -11.47 and a beta of 2.34. The business’s 50-day simple moving average is $2.79 and its two-hundred day simple moving average is $2.18.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BFLY. Wall Street Zen raised Butterfly Network from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Butterfly Network in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.00.

Institutional Investors Weigh In On Butterfly Network

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Butterfly Network by 114.7% in the 2nd quarter. Geode Capital Management LLC now owns 4,339,362 shares of the company’s stock worth $8,680,000 after buying an additional 2,317,882 shares during the last quarter. First Light Asset Management LLC lifted its holdings in Butterfly Network by 37.8% during the first quarter. First Light Asset Management LLC now owns 5,505,649 shares of the company’s stock worth $12,553,000 after acquiring an additional 1,511,029 shares during the period. Acadian Asset Management LLC boosted its position in Butterfly Network by 270.5% in the first quarter. Acadian Asset Management LLC now owns 1,598,552 shares of the company’s stock worth $3,642,000 after purchasing an additional 1,167,055 shares during the last quarter. Sei Investments Co. bought a new position in Butterfly Network in the 2nd quarter valued at $2,183,000. Finally, AWM Investment Company Inc. purchased a new stake in shares of Butterfly Network during the 1st quarter valued at $2,280,000. Hedge funds and other institutional investors 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.