Steve Cashman Sells 104,781 Shares of Butterfly Network (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) insider Steve Cashman sold 104,781 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $4.96, for a total value of $519,713.76. Following the transaction, the insider directly owned 1,925,087 shares of the company’s stock, valued at $9,548,431.52. This trade represents a 5.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Steve Cashman also recently made the following trade(s):

• On Monday, June 8th, Steve Cashman sold 294,680 shares of Butterfly Network stock. The stock was sold at an average price of $4.66, for a total value of $1,373,208.80.

Butterfly Network Stock Performance

Shares of Butterfly Network stock traded up $0.33 during trading on Tuesday, reaching $5.11. 5,421,715 shares of the company’s stock were exchanged, compared to its average volume of 5,544,334. Butterfly Network, Inc. has a 1-year low of $1.32 and a 1-year high of $5.72. The company has a market cap of $1.30 billion, a P/E ratio of -17.04 and a beta of 2.22. The firm’s 50-day moving average price is $4.53 and its 200 day moving average price is $3.96.

Butterfly Network (NYSE:BFLY) last issued its quarterly earnings data 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 the consensus estimate 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 predict that Butterfly Network, Inc. will post -0.18 EPS for the current year.

Institutional Trading of Butterfly Network

A number of institutional investors have recently bought and sold shares of BFLY. KBC Group NV acquired a new stake in Butterfly Network during the 1st quarter worth about $25,000. Ameriprise Financial Inc. acquired a new position in shares of Butterfly Network in the 3rd quarter valued at about $25,000. BNP Paribas Financial Markets lifted its stake in shares of Butterfly Network by 707.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 16,258 shares of the company’s stock valued at $33,000 after purchasing an additional 14,244 shares during the period. Wisconsin Wealth Advisors LLC bought a new stake in shares of Butterfly Network during the 4th quarter valued at about $38,000. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Butterfly Network during the 4th quarter valued at about $38,000. Institutional investors own 37.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Loop Capital set a $5.50 price target on shares of Butterfly Network in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, May 6th. Zacks Research raised Butterfly Network from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Finally, TD Cowen increased their target price on shares of Butterfly Network from $4.50 to $6.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.56.

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.