Butterfly Network (NYSE:BFLY) General Counsel Nicholas Caezza Sells 10,000 Shares of Stock

Butterfly Network, Inc. (NYSE:BFLY) General Counsel Nicholas Caezza sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $9.75, for a total value of $97,500.00. Following the completion of the transaction, the general counsel directly owned 300,307 shares of the company’s stock, valued at $2,927,993.25. This represents a 3.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Butterfly Network Stock Up 1.2%

NYSE BFLY opened at $9.48 on Thursday. The firm has a market capitalization of $2.52 billion, a PE ratio of -32.69 and a beta of 2.09. The stock’s 50 day moving average is $7.36 and its 200 day moving average is $5.26. Butterfly Network, Inc. has a twelve month low of $1.34 and a twelve month high of $10.05.

Butterfly Network (NYSE:BFLY) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. Butterfly Network had a negative return on equity of 33.99% and a negative net margin of 66.74%.The business had revenue of $32.61 million during the quarter, compared to the consensus estimate of $29.16 million. On average, research analysts anticipate that Butterfly Network, Inc. will post -0.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Janus Henderson Group PLC purchased a new position in Butterfly Network in the 1st quarter worth about $446,000. Dimensional Fund Advisors LP boosted its holdings in shares of Butterfly Network by 30.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,358,181 shares of the company’s stock valued at $9,524,000 after acquiring an additional 557,100 shares during the last quarter. Clough Capital Partners L P purchased a new stake in shares of Butterfly Network during the 4th quarter valued at about $845,000. Sei Investments Co. grew its stake in shares of Butterfly Network by 30.6% in the first quarter. Sei Investments Co. now owns 2,298,894 shares of the company’s stock worth $9,288,000 after acquiring an additional 539,171 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of Butterfly Network during the first quarter valued at approximately $545,000. 37.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.56.

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.