Key Points
- CTO Victor Ku sold 35,968 shares of Butterfly Network on Jan. 5 at an average price of $3.82 for $137,397.76, reducing his stake by 4.24% to 811,962 shares (≈$3.10M), per the SEC filing.
- Shares and outlook: BFLY opened at $4.22 with a 52‑week range of $1.32–$4.98 and a $1.06B market cap; the company posted a slight EPS beat but has a very negative net margin (90.31%), and analysts' consensus is a "Hold" with a $3.67 price target.
- Institutional buying: Several hedge funds, notably Acadian and Geode, materially increased their holdings recently, leaving institutions with about 37.85% of the stock.
Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) CTO Victor Ku sold 35,968 shares of Butterfly Network stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $3.82, for a total value of $137,397.76. Following the completion of the transaction, the chief technology officer directly owned 811,962 shares of the company's stock, valued at approximately $3,101,694.84. This represents a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Butterfly Network Stock Performance
Shares of Butterfly Network stock opened at $4.22 on Thursday. The company has a 50-day simple moving average of $3.06 and a two-hundred day simple moving average of $2.27. Butterfly Network, Inc. has a 52-week low of $1.32 and a 52-week high of $4.98. The stock has a market capitalization of $1.06 billion, a PE ratio of -12.77 and a beta of 2.27.
Butterfly Network (NYSE:BFLY - Get Free Report) last announced its quarterly earnings results on Friday, October 31st. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $21.49 million during the quarter, compared to the consensus estimate 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 research analysts forecast that Butterfly Network, Inc. will post -0.35 EPS for the current fiscal year.
Institutional Investors Weigh In On Butterfly Network
Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC lifted its holdings in shares of Butterfly Network by 270.5% during the 1st quarter. Acadian Asset Management LLC now owns 1,598,552 shares of the company's stock valued at $3,642,000 after purchasing an additional 1,167,055 shares during the last quarter. Geode Capital Management LLC increased its position in Butterfly Network by 114.7% during the 2nd quarter. Geode Capital Management LLC now owns 4,339,362 shares of the company's stock valued at $8,680,000 after buying an additional 2,317,882 shares in the last quarter. Blair William & Co. IL raised its stake in Butterfly Network by 14.5% in the second quarter. Blair William & Co. IL now owns 118,500 shares of the company's stock valued at $237,000 after buying an additional 15,000 shares during the last quarter. DNB Asset Management AS boosted its holdings in Butterfly Network by 145.0% in the second quarter. DNB Asset Management AS now owns 281,715 shares of the company's stock worth $563,000 after acquiring an additional 166,749 shares in the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new stake in Butterfly Network in the second quarter worth about $72,000. Hedge funds and other institutional investors own 37.85% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on BFLY shares. Loop Capital set a $5.00 price target on shares of Butterfly Network in a research note on Wednesday, December 31st. Weiss Ratings reissued a "sell (d-)" rating on shares of Butterfly Network in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Butterfly Network from a "sell" rating to a "hold" rating in a research report on Sunday, November 23rd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $3.67.
Read Our Latest Report on BFLY
About Butterfly Network
(
Get Free Report)
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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