Key Points
- Director Jonathan Rothberg sold 123,354 shares on December 11 at an average price of $3.08 (proceeds ~ $379,930), cutting his ownership by 48.19% to 132,622 shares.
- Butterfly reported quarterly EPS of ($0.04) versus ($0.06) expected and $21.49M in revenue but still has a negative net margin (~90%); the stock trades around $3.00 with a market cap of ~$758M and a consensus analyst rating of Hold and $3.00 price target.
Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) Director Jonathan Rothberg sold 123,354 shares of Butterfly Network stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $3.08, for a total value of $379,930.32. Following the sale, the director owned 132,622 shares in the company, valued at $408,475.76. This represents a 48.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Butterfly Network Trading Down 2.6%
Butterfly Network stock opened at $3.00 on Friday. Butterfly Network, Inc. has a 52 week low of $1.32 and a 52 week high of $4.98. The stock has a market cap of $757.81 million, a P/E ratio of -9.09 and a beta of 2.34. The stock has a 50 day moving average of $2.55 and a 200-day moving average of $2.10.
Butterfly Network (NYSE:BFLY - Get Free Report) last issued its quarterly earnings results on Friday, October 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. The business had revenue of $21.49 million during the quarter, compared to analyst estimates of $21.23 million. Butterfly Network had a negative net margin of 90.31% and a negative return on equity of 37.80%. As a group, equities analysts predict that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on BFLY. Wall Street Zen upgraded shares of Butterfly Network from a "sell" rating to a "hold" rating in a research note on Sunday, November 23rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Butterfly Network in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $3.00.
Read Our Latest Report on BFLY
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Butterfly Network by 15.6% in the 1st quarter. Vanguard Group Inc. now owns 8,598,823 shares of the company's stock valued at $19,605,000 after buying an additional 1,161,647 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Butterfly Network by 7.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,003,940 shares of the company's stock worth $2,289,000 after acquiring an additional 68,110 shares during the last quarter. Deutsche Bank AG bought a new position in Butterfly Network in the first quarter worth about $31,000. Swiss National Bank acquired a new position in Butterfly Network in the first quarter valued at approximately $618,000. Finally, Invesco Ltd. bought a new position in shares of Butterfly Network during the first quarter valued at approximately $85,000. 37.85% of the stock is currently owned by institutional investors.
About Butterfly Network
(
Get Free Report)
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.
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