Butterfly Network (NYSE:BFLY) CAO Megan Carlson Sells 13,804 Shares

Butterfly Network, Inc. (NYSE:BFLY) CAO Megan Carlson sold 13,804 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $7.30, for a total transaction of $100,769.20. Following the transaction, the chief accounting officer owned 412,085 shares of the company’s stock, valued at approximately $3,008,220.50. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, July 31st, Megan Carlson sold 68,852 shares of Butterfly Network stock. The shares were sold at an average price of $7.86, for a total value of $541,176.72.
• On Thursday, July 2nd, Megan Carlson sold 41,303 shares of Butterfly Network stock. The stock was sold at an average price of $7.96, for a total transaction of $328,771.88.

Butterfly Network Stock Performance

Shares of BFLY stock traded down $0.04 on Wednesday, hitting $7.49. The company had a trading volume of 4,119,469 shares, compared to its average volume of 6,539,678. The stock’s 50-day moving average is $8.02 and its two-hundred day moving average is $5.91. Butterfly Network, Inc. has a twelve month low of $1.47 and a twelve month high of $10.05. The firm has a market cap of $1.99 billion, a P/E ratio of -25.81 and a beta of 2.08.

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

Hedge Funds Weigh In On Butterfly Network

Institutional investors have recently modified their holdings of the business. Invesco Ltd. purchased a new stake in Butterfly Network during the 1st quarter worth about $85,000. Goldman Sachs Group Inc. grew its holdings in Butterfly Network by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 756,426 shares of the company’s stock valued at $1,725,000 after buying an additional 29,958 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Butterfly Network by 9,055.9% during the second quarter. JPMorgan Chase & Co. now owns 92,017 shares of the company’s stock valued at $184,000 after buying an additional 91,012 shares during the period. Legal & General Group Plc lifted its holdings in shares of Butterfly Network by 136.5% in the second quarter. Legal & General Group Plc now owns 206,985 shares of the company’s stock worth $414,000 after buying an additional 119,455 shares in the last quarter. Finally, Rhumbline Advisers purchased a new stake in shares of Butterfly Network in the second quarter worth about $475,000. 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 report on Monday, August 3rd. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.