Butterfly Network (NYSE:BFLY) Director Jonathan Rothberg Sells 14,911 Shares of Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 14,911 shares of the firm’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $4.01, for a total value of $59,793.11. Following the completion of the sale, the director directly owned 1,140,180 shares in the company, valued at approximately $4,572,121.80. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Butterfly Network Price Performance

NYSE BFLY opened at $3.79 on Tuesday. The company has a market cap of $956.09 million, a P/E ratio of -11.47 and a beta of 2.34. Butterfly Network, Inc. has a 12 month low of $1.32 and a 12 month high of $4.98. The company has a 50-day moving average of $2.82 and a 200-day moving average of $2.19.

Butterfly Network (NYSE:BFLY) last released its earnings results on Friday, October 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $21.49 million during the quarter, compared to the consensus estimate of $21.23 million. As a group, equities research analysts anticipate that Butterfly Network, Inc. will post -0.35 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on BFLY shares. Weiss Ratings restated a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, October 8th. Wall Street Zen upgraded Butterfly Network from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Teacher Retirement System of Texas grew its stake in shares of Butterfly Network by 45.2% in the second quarter. Teacher Retirement System of Texas now owns 27,811 shares of the company’s stock valued at $56,000 after buying an additional 8,657 shares in the last quarter. Lazari Capital Management Inc. boosted its holdings in Butterfly Network by 53.1% in the 2nd quarter. Lazari Capital Management Inc. now owns 28,661 shares of the company’s stock worth $57,000 after acquiring an additional 9,941 shares during the period. Levin Capital Strategies L.P. grew its position in Butterfly Network by 16.7% in the second quarter. Levin Capital Strategies L.P. now owns 70,000 shares of the company’s stock valued at $140,000 after acquiring an additional 10,000 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Butterfly Network by 8.4% during the third quarter. Blair William & Co. IL now owns 128,500 shares of the company’s stock valued at $248,000 after purchasing an additional 10,000 shares during the period. Finally, California State Teachers Retirement System lifted its position in shares of Butterfly Network by 10.0% during the second quarter. California State Teachers Retirement System now owns 131,640 shares of the company’s stock worth $263,000 after purchasing an additional 11,985 shares in the last quarter. 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.