Insider Selling: Butterfly Network (NYSE:BFLY) Insider Sells 142,590 Shares of Stock

Key Points

• Steve Cashman, an insider at Butterfly Network, sold 142,590 shares of the company stock at an average price of $1.50, resulting in a total transaction of $213,885.
• The company reported earnings per share (EPS) of ($0.06), exceeding analysts' expectations, but had a negative net margin of 71.79%.
• Butterfly Network has received a consensus rating of "Moderate Buy" from analysts, with an average target price of $3.00.

Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) insider Steve Cashman sold 142,590 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $1.50, for a total transaction of $213,885.00. Following the completion of the transaction, the insider owned 2,181,884 shares in the company, valued at $3,272,826. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, August 25th, Steve Cashman purchased 50,000 shares of Butterfly Network stock. The stock was bought at an average price of $1.64 per share, for a total transaction of $82,000.00.

Butterfly Network Price Performance

Shares of BFLY traded up $0.04 during mid-day trading on Monday, reaching $1.60. 2,064,381 shares of the company's stock were exchanged, compared to its average volume of 3,820,177. The stock has a market capitalization of $401.53 million, a PE ratio of -5.70 and a beta of 2.52. The business's fifty day simple moving average is $1.68 and its 200-day simple moving average is $2.20. Butterfly Network, Inc. has a 52-week low of $1.32 and a 52-week high of $4.98.

Butterfly Network (NYSE:BFLY - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The business had revenue of $23.38 million for 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. Equities research analysts predict that Butterfly Network, Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

BFLY has been the subject of several research reports. Oppenheimer reaffirmed a "market perform" rating on shares of Butterfly Network in a research note on Friday, August 1st. Craig Hallum reaffirmed a "positive" rating and set a $2.00 price target on shares of Butterfly Network in a research note on Monday, August 4th. Three research 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 an average rating of "Moderate Buy" and a consensus target price of $3.00.

Institutional Trading of Butterfly Network

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Total Wealth Planning & Management Inc. purchased a new stake in Butterfly Network in the 1st quarter valued at about $25,000. TradeLink Capital LLC purchased a new stake in Butterfly Network in the 1st quarter valued at about $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in Butterfly Network in the 2nd quarter valued at about $25,000. CTC Alternative Strategies Ltd. purchased a new stake in Butterfly Network in the 1st quarter valued at about $29,000. Finally, Deutsche Bank AG purchased a new stake in Butterfly Network in the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 37.85% of the company's stock.

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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