Butterfly Network, Inc. (NYSE:BFLY – Get Free Report) insider Steve Cashman sold 294,680 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $4.66, for a total value of $1,373,208.80. Following the completion of the sale, the insider owned 1,630,407 shares of the company’s stock, valued at approximately $7,597,696.62. This trade represents a 15.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Steve Cashman also recently made the following trade(s):
- On Friday, June 5th, Steve Cashman sold 104,781 shares of Butterfly Network stock. The stock was sold at an average price of $4.96, for a total value of $519,713.76.
Butterfly Network Stock Performance
NYSE BFLY opened at $5.11 on Wednesday. Butterfly Network, Inc. has a twelve month low of $1.32 and a twelve month high of $5.72. The stock has a market capitalization of $1.30 billion, a PE ratio of -17.04 and a beta of 2.22. The stock has a 50-day simple moving average of $4.56 and a 200 day simple moving average of $3.98.
Hedge Funds Weigh In On Butterfly Network
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in Butterfly Network by 71.0% during the first quarter. Bank of America Corp DE now owns 4,165,222 shares of the company’s stock valued at $16,827,000 after acquiring an additional 1,728,938 shares during the period. Janus Henderson Group PLC bought a new position in Butterfly Network during the first quarter valued at about $446,000. Quantinno Capital Management LP bought a new position in Butterfly Network during the first quarter valued at about $73,000. Sei Investments Co. increased its stake in Butterfly Network by 30.6% during the first quarter. Sei Investments Co. now owns 2,298,894 shares of the company’s stock valued at $9,288,000 after acquiring an additional 539,171 shares during the period. Finally, State of Wyoming bought a new position in Butterfly Network during the first quarter valued at about $143,000. 37.85% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on BFLY shares. TD Cowen boosted their price objective on Butterfly Network from $4.50 to $6.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Loop Capital set a $5.50 price objective on Butterfly Network in a research report on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded Butterfly Network from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.56.
Check Out Our Latest Report on Butterfly Network
About Butterfly Network
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.
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