Insider Selling: Butterfly Network (NYSE:BFLY) CFO Sells 13,803 Shares of Stock

Key Points

• Megan Carlson, CFO of Butterfly Network, sold 13,803 shares of the company's stock on September 4th for approximately $20,704.50, reducing her holdings by 2.46% to 547,444 shares.
• Butterfly Network's stock price increased to $1.60 with a market capitalization of $401.53 million, while the company reported a negative net margin of 71.79%.
• Analysts maintain a consensus price target of $3.00 for Butterfly Network, with three ratings classified as "Buy" and one as "Hold."

Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) CFO Megan Carlson sold 13,803 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $1.50, for a total transaction of $20,704.50. Following the completion of the sale, the chief financial officer owned 547,444 shares of the company's stock, valued at approximately $821,166. The trade was a 2.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Butterfly Network Price Performance

Shares of NYSE BFLY traded up $0.04 during trading on Monday, hitting $1.60. The stock had a trading volume of 2,063,998 shares, compared to its average volume of 3,820,177. Butterfly Network, Inc. has a 12 month low of $1.32 and a 12 month high of $4.98. The company has a market capitalization of $401.53 million, a PE ratio of -5.70 and a beta of 2.52. The firm has a fifty day moving average of $1.68 and a two-hundred day moving average of $2.20.

Butterfly Network (NYSE:BFLY - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $23.38 million during the quarter, compared to analyst estimates of $23.91 million. Butterfly Network had a negative net margin of 71.79% and a negative return on equity of 30.53%. Butterfly Network has set its FY 2025 guidance at EPS. On average, equities analysts expect that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BFLY has been the subject of several research reports. Oppenheimer restated a "market perform" rating on shares of Butterfly Network in a research report on Friday, August 1st. Craig Hallum restated a "positive" rating and set a $2.00 price target on shares of Butterfly Network in a research report on Monday, August 4th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $3.00.

Institutional Investors Weigh In On Butterfly Network

Institutional investors have recently added to or reduced their stakes in the business. Calamos Advisors LLC lifted its holdings in Butterfly Network by 115.3% during the first quarter. Calamos Advisors LLC now owns 362,571 shares of the company's stock valued at $827,000 after purchasing an additional 194,174 shares during the last quarter. Two Sigma Investments LP lifted its holdings in Butterfly Network by 392.1% during the fourth quarter. Two Sigma Investments LP now owns 637,474 shares of the company's stock valued at $1,989,000 after purchasing an additional 507,923 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Butterfly Network during the first quarter valued at about $708,000. Vanguard Group Inc. lifted its holdings in Butterfly Network by 15.6% during the first quarter. Vanguard Group Inc. now owns 8,598,823 shares of the company's stock valued at $19,605,000 after purchasing an additional 1,161,647 shares during the last quarter. Finally, ARK Investment Management LLC lifted its holdings in Butterfly Network by 16.8% during the first quarter. ARK Investment Management LLC now owns 7,023,980 shares of the company's stock valued at $16,015,000 after purchasing an additional 1,012,460 shares during the last quarter. 37.85% of the stock is owned by hedge funds and other institutional investors.

About Butterfly Network

Butterfly Network, Inc develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. It offers Butterfly iQ, a handheld and single-probe whole body ultrasound system; Butterfly iQ+ and iQ3 ultrasound devices that can perform whole-body imaging in a single handheld probe integrated with the clinical workflow, and accessible on a user's smartphone, tablet, and almost any hospital computer system; and Butterfly iQ+ Vet, a handheld ultrasound system designed for veterinarians.

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