Jonathan Rothberg Sells 2,673 Shares of Butterfly Network (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 2,673 shares of Butterfly Network stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $4.00, for a total transaction of $10,692.00. Following the transaction, the director directly owned 1,155,091 shares in the company, valued at approximately $4,620,364. This represents a 0.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Butterfly Network Trading Up 0.4%

Shares of Butterfly Network stock opened at $3.82 on Wednesday. The business’s fifty day simple moving average is $2.85 and its 200 day simple moving average is $2.20. Butterfly Network, Inc. has a 12 month low of $1.32 and a 12 month high of $4.98. The firm has a market capitalization of $963.67 million, a P/E ratio of -11.56 and a beta of 2.34.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings data on Friday, October 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Butterfly Network had a negative return on equity of 37.80% and a negative net margin of 90.31%.The firm had revenue of $21.49 million during the quarter, compared to the consensus estimate of $21.23 million. Analysts predict that Butterfly Network, Inc. will post -0.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on BFLY. Wall Street Zen raised shares of Butterfly Network from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, October 8th. Finally, Loop Capital set a $5.00 price objective on Butterfly Network in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.67.

Institutional Trading of Butterfly Network

Hedge funds and other institutional investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of Butterfly Network in the second quarter valued at $25,000. Ameriprise Financial Inc. purchased a new position in Butterfly Network during the 3rd quarter valued at about $25,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Butterfly Network during the first quarter valued at about $29,000. Deutsche Bank AG purchased a new stake in shares of Butterfly Network in the first quarter worth about $31,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Butterfly Network in the third quarter valued at approximately $32,000. 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.