Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) CTO Victor Ku sold 35,649 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $7.87, for a total transaction of $280,557.63. Following the sale, the chief technology officer directly owned 1,063,639 shares in the company, valued at $8,370,838.93. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Butterfly Network Stock Performance
BFLY stock opened at $7.31 on Thursday. Butterfly Network, Inc. has a one year low of $1.32 and a one year high of $9.69. The firm's fifty day moving average is $5.69 and its 200 day moving average is $4.61. 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, topping 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 business had revenue of $26.53 million during the quarter, compared to the consensus estimate of $26.08 million. Research analysts predict that Butterfly Network, Inc. will post -0.18 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on BFLY. Zacks Research raised Butterfly Network from a "strong sell" rating to a "hold" rating in a report on Friday, March 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Butterfly Network in a report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company 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
Large investors have recently added to or reduced their stakes in the stock. KBC Group NV purchased a new position in Butterfly Network during the first quarter valued at $25,000. Wisconsin Wealth Advisors LLC purchased a new stake in shares of Butterfly Network during the fourth quarter worth about $38,000. ExodusPoint Capital Management LP purchased a new stake in shares of Butterfly Network during the fourth quarter worth about $38,000. Sfmg LLC acquired a new position in shares of Butterfly Network during the 4th quarter worth about $39,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Butterfly Network during the 4th quarter worth about $40,000. 37.85% of the stock is currently owned by institutional investors and hedge funds.
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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