Butterfly Network, Inc. (NYSE:BFLY – Get Free Report) CAO Megan Carlson sold 68,852 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $7.86, for a total transaction of $541,176.72. Following the transaction, the chief accounting officer directly owned 425,889 shares of the company’s stock, valued at approximately $3,347,487.54. This trade represents a 13.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Megan Carlson also recently made the following trade(s):
- On Thursday, July 2nd, Megan Carlson sold 41,303 shares of Butterfly Network stock. The shares were sold at an average price of $7.96, for a total value of $328,771.88.
Butterfly Network Trading Down 1.1%
BFLY opened at $8.33 on Friday. The stock’s 50-day moving average price is $6.97 and its 200 day moving average price is $5.12. Butterfly Network, Inc. has a 12-month low of $1.32 and a 12-month high of $9.69. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -28.72 and a beta of 2.09.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Butterfly Network in a research note on Monday. Three 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.56.
Check Out Our Latest Analysis on Butterfly Network
Hedge Funds Weigh In On Butterfly Network
Several hedge funds have recently made changes to their positions in BFLY. Invesco Ltd. acquired a new stake in shares of Butterfly Network in the 1st quarter valued at about $85,000. Goldman Sachs Group Inc. increased its position in Butterfly Network by 4.1% during 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. increased its position in Butterfly Network by 9,055.9% during 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 stake in Butterfly Network by 136.5% in the second 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 during the last quarter. Finally, Rhumbline Advisers purchased a new stake in Butterfly Network in the second quarter valued at approximately $475,000. Hedge funds and other institutional investors own 37.85% of the company’s stock.
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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