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 value of $20,704.50. Following the sale, the chief financial officer owned 547,444 shares of the company's stock, valued at approximately $821,166. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Butterfly Network Price Performance

Shares of BFLY stock traded up $0.02 on Friday, hitting $1.57. 1,919,739 shares of the company's stock were exchanged, compared to its average volume of 2,794,586. Butterfly Network, Inc. has a 12 month low of $1.32 and a 12 month high of $4.98. The stock has a market cap of $393.97 million, a P/E ratio of -5.59 and a beta of 2.52. The company has a 50 day moving average of $1.63 and a 200 day moving average of $2.13.

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

Hedge Funds Weigh In On Butterfly Network

Several large investors have recently bought and sold shares of BFLY. Thompson Davis & CO. Inc. bought a new position in shares of Butterfly Network during the second quarter worth about $72,000. State of Wyoming raised its position in shares of Butterfly Network by 55.7% during the second quarter. State of Wyoming now owns 120,731 shares of the company's stock worth $241,000 after acquiring an additional 43,169 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Butterfly Network by 16.5% during the second quarter. Captrust Financial Advisors now owns 155,223 shares of the company's stock worth $310,000 after acquiring an additional 21,979 shares during the last quarter. Man Group plc raised its position in shares of Butterfly Network by 21.3% during the second quarter. Man Group plc now owns 96,310 shares of the company's stock worth $193,000 after acquiring an additional 16,919 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Butterfly Network by 100.3% during the second quarter. Lazard Asset Management LLC now owns 43,693 shares of the company's stock worth $87,000 after acquiring an additional 21,879 shares during the last quarter. 37.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.