Butterfly Network, Inc. (NYSE:BFLY – Get Free Report) EVP John Doherty sold 55,229 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $7.87, for a total transaction of $434,652.23. Following the transaction, the executive vice president owned 1,454,412 shares in the company, valued at $11,446,222.44. This represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Butterfly Network Stock Performance
Shares of BFLY stock traded down $0.27 during trading hours on Wednesday, reaching $7.31. The company had a trading volume of 5,775,350 shares, compared to its average volume of 6,600,102. The business has a fifty day moving average price of $5.66 and a 200-day moving average price of $4.58. Butterfly Network, Inc. has a one year low of $1.32 and a one year high of $9.69. The firm has a market cap of $1.86 billion, a PE ratio of -24.37 and a beta of 2.05.
Butterfly Network (NYSE:BFLY – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Butterfly Network had a negative net margin of 73.63% and a negative return on equity of 34.41%. The company had revenue of $26.53 million for the quarter, compared to the consensus estimate of $26.08 million. Equities research analysts forecast that Butterfly Network, Inc. will post -0.18 EPS for the current year.
Wall Street Analysts Forecast Growth
View Our Latest Stock Analysis on BFLY
Institutional Investors Weigh In On Butterfly Network
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. bought a new position in Butterfly Network in the 1st quarter worth $85,000. Goldman Sachs Group Inc. raised its stake in shares of Butterfly Network by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 756,426 shares of the company’s stock worth $1,725,000 after buying an additional 29,958 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Butterfly Network by 9,055.9% in the second quarter. JPMorgan Chase & Co. now owns 92,017 shares of the company’s stock worth $184,000 after buying an additional 91,012 shares during the period. Legal & General Group Plc lifted its position in shares of Butterfly Network by 136.5% during the 2nd quarter. Legal & General Group Plc now owns 206,985 shares of the company’s stock valued at $414,000 after buying an additional 119,455 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in shares of Butterfly Network during the 2nd quarter valued at about $475,000. 37.85% of the stock is currently owned by hedge funds and other institutional investors.
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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