Butterfly Network (NYSE:BFLY) EVP John Doherty Sells 57,136 Shares of Stock

Butterfly Network, Inc. (NYSE:BFLY) EVP John Doherty sold 57,136 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $6.56, for a total transaction of $374,812.16. Following the completion of the transaction, the executive vice president owned 1,397,276 shares in the company, valued at approximately $9,166,130.56. This represents a 3.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Butterfly Network Stock Up 0.2%

Shares of BFLY traded up $0.01 during mid-day trading on Tuesday, hitting $7.08. 1,379,999 shares of the company’s stock were exchanged, compared to its average volume of 6,676,768. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -23.74 and a beta of 2.05. The firm has a fifty day moving average of $6.42 and a two-hundred day moving average of $4.92. Butterfly Network, Inc. has a twelve month low of $1.32 and a twelve month high of $9.69.

Butterfly Network (NYSE:BFLY) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $26.53 million during the quarter, compared to analyst estimates of $26.08 million. Butterfly Network had a negative net margin of 73.63% and a negative return on equity of 34.41%. On average, equities analysts predict that Butterfly Network, Inc. will post -0.18 earnings per share for the current year.

Institutional Trading of Butterfly Network

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Butterfly Network by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,040,080 shares of the company’s stock worth $21,307,000 after purchasing an additional 453,258 shares during the last quarter. ARK Investment Management LLC increased its position in Butterfly Network by 1.6% in the fourth quarter. ARK Investment Management LLC now owns 6,244,427 shares of the company’s stock worth $23,729,000 after purchasing an additional 99,079 shares during the period. Geode Capital Management LLC lifted its position in Butterfly Network by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 4,679,120 shares of the company’s stock valued at $17,785,000 after purchasing an additional 75,243 shares during the period. Bank of America Corp DE boosted its stake in shares of Butterfly Network by 71.0% in the 1st quarter. Bank of America Corp DE now owns 4,165,222 shares of the company’s stock valued at $16,827,000 after purchasing an additional 1,728,938 shares during the last quarter. Finally, AWM Investment Company Inc. grew its position in shares of Butterfly Network by 750.0% during the 4th quarter. AWM Investment Company Inc. now owns 3,400,000 shares of the company’s stock worth $12,920,000 after buying an additional 3,000,000 shares during the period. 37.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.56.

Butterfly Network News Summary

Here are the key news stories impacting Butterfly Network this week:

• Positive Sentiment: Analysts are watching for continued momentum in Butterfly’s iQ3 handheld ultrasound system, Compass AI software adoption and growth in its Embedded business. Revenue is expected to increase approximately 21.5% in the second quarter, creating a potential catalyst if results and guidance meet or exceed expectations. Can AI Momentum and Embedded Growth Lift BFLY’s Q2 Results?
• Neutral Sentiment: Rothberg’s sales were conducted through pre-arranged 10b5-1 trading plans and were reportedly tied to estate planning, which reduces the likelihood that they reflect a negative view of Butterfly’s business. The company’s stock has also risen sharply over the past year, providing a possible explanation for the timing. Butterfly Network Founder Rothberg Sells Another 660,000 Shares. Should Investors Worry?
• Negative Sentiment: Rothberg sold approximately 3.79 million shares from July 17 through July 22 for about $25.0 million in total. The transactions reduced his direct ownership by roughly 95.7% from the July 17 filing and by 60.3% in the subsequent sale, leaving investors with a significant insider-selling signal and additional potential supply of shares.

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.