Megan Carlson Sells 68,852 Shares of Butterfly Network (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) CAO Megan Carlson sold 68,852 shares of Butterfly Network stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $7.86, for a total value of $541,176.72. Following the completion of the transaction, the chief accounting officer owned 425,889 shares in the company, valued at approximately $3,347,487.54. This represents a 13.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Megan Carlson also recently made the following trade(s):

• On Thursday, July 2nd, Megan Carlson sold 41,303 shares of Butterfly Network stock. The shares were sold at an average price of $7.96, for a total value of $328,771.88.

Butterfly Network Stock Performance

Shares of Butterfly Network stock opened at $8.42 on Thursday. Butterfly Network, Inc. has a 52-week low of $1.32 and a 52-week high of $9.69. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -29.03 and a beta of 2.09. The company’s 50 day moving average price is $6.90 and its 200-day moving average price is $5.09.

Butterfly Network (NYSE:BFLY) last issued its earnings results on Thursday, July 30th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.03. The company had revenue of $32.61 million for the quarter, compared to the consensus estimate of $29.16 million. Butterfly Network had a negative net margin of 66.74% and a negative return on equity of 33.99%. As a group, equities research analysts forecast that Butterfly Network, Inc. will post -0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Butterfly Network in a report on Monday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.56.

Institutional Trading of Butterfly Network

Several large investors have recently added to or reduced their stakes in the stock. AWM Investment Company Inc. grew its holdings 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 acquiring an additional 3,000,000 shares during the period. Bank of America Corp DE lifted 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 period. First Light Asset Management LLC lifted its stake in shares of Butterfly Network by 149.3% in the 4th quarter. First Light Asset Management LLC now owns 2,812,131 shares of the company’s stock valued at $10,686,000 after purchasing an additional 1,684,133 shares during the period. Sei Investments Co. purchased a new stake in Butterfly Network in the second quarter worth $2,183,000. Finally, Deutsche Bank AG raised its holdings in Butterfly Network by 156.7% in the fourth quarter. Deutsche Bank AG now owns 1,652,237 shares of the company’s stock worth $6,279,000 after purchasing an additional 1,008,556 shares in the last quarter. Institutional investors own 37.85% of the company’s stock.

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.