Butterfly Network (NYSE:BFLY) Director Jonathan Rothberg Sells 442,539 Shares

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 442,539 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $3.13, for a total transaction of $1,385,147.07. Following the completion of the transaction, the director directly owned 797,970 shares of the company’s stock, valued at approximately $2,497,646.10. The trade was a 35.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Butterfly Network Stock Down 9.3%

Butterfly Network stock traded down $0.32 during mid-day trading on Wednesday, reaching $3.08. 5,768,635 shares of the company’s stock were exchanged, compared to its average volume of 8,262,429. Butterfly Network, Inc. has a twelve month low of $1.32 and a twelve month high of $4.98. The company has a market cap of $776.75 million, a P/E ratio of -9.32 and a beta of 2.65. The company has a fifty day moving average of $2.31 and a 200-day moving average of $2.04.

Butterfly Network (NYSE:BFLY) last issued its quarterly earnings results on Friday, October 31st. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $21.49 million for the quarter, compared to the consensus estimate of $21.23 million. Butterfly Network had a negative return on equity of 37.80% and a negative net margin of 90.31%. Butterfly Network has set its FY 2025 guidance at EPS. Equities research analysts expect that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Butterfly Network

Several hedge funds have recently modified their holdings of the company. TradeLink Capital LLC bought a new stake in shares of Butterfly Network in the 1st quarter worth $25,000. Ashton Thomas Private Wealth LLC acquired a new position in Butterfly Network during the second quarter worth about $25,000. Ameriprise Financial Inc. bought a new stake in Butterfly Network in the third quarter worth about $25,000. CTC Alternative Strategies Ltd. acquired a new stake in Butterfly Network in the 1st quarter valued at about $29,000. Finally, Deutsche Bank AG acquired a new stake in Butterfly Network in the 1st quarter valued at about $31,000. 37.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BFLY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, October 8th. Wall Street Zen raised Butterfly Network from a “sell” rating to a “hold” rating in a research report on Sunday. Craig Hallum reaffirmed a “positive” rating and set a $2.00 price target on shares of Butterfly Network in a research report on Monday, August 4th. Finally, Oppenheimer reissued a “market perform” rating on shares of Butterfly Network in a report on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.00.

Butterfly Network Company Profile

Butterfly Network, Inc develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. It offers Butterfly iQ, a handheld and single-probe whole body ultrasound system; Butterfly iQ+ and iQ3 ultrasound devices that can perform whole-body imaging in a single handheld probe integrated with the clinical workflow, and accessible on a user's smartphone, tablet, and almost any hospital computer system; and Butterfly iQ+ Vet, a handheld ultrasound system designed for veterinarians.