Butterfly Network (NYSE:BFLY) Insider Steve Cashman Sells 142,590 Shares

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 company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $1.50, for a total transaction of $213,885.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

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

Butterfly Network Stock Up 1.0%

BFLY traded up $0.02 during midday trading on Friday, hitting $1.57. 1,919,739 shares of the company traded hands, compared to its average volume of 2,794,586. The firm has a market capitalization of $393.97 million, a PE ratio of -5.59 and a beta of 2.52. The company's 50-day moving average is $1.63 and its 200 day moving average is $2.14. 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 posted its earnings results on Friday, August 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $23.38 million for the quarter, compared to analysts' expectations 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, sell-side analysts predict that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BFLY. Oppenheimer reaffirmed a "market perform" rating on shares of Butterfly Network in a research report 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 report on Monday, August 4th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $3.00.

Institutional Investors Weigh In On Butterfly Network

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

Butterfly Network Company Profile

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.