Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) CAO Megan Carlson sold 68,852 shares of Butterfly Network stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $7.86, for a total value of $541,176.72. Following the completion of the transaction, the chief accounting officer owned 425,889 shares of the company's stock, valued at approximately $3,347,487.54. The trade was a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Megan Carlson also recently made the following trade(s):
- On Thursday, July 2nd, Megan Carlson sold 41,303 shares of Butterfly Network stock. The stock was sold at an average price of $7.96, for a total value of $328,771.88.
Butterfly Network Price Performance
Shares of BFLY opened at $8.89 on Wednesday. The company has a market cap of $2.26 billion, a P/E ratio of -30.64 and a beta of 2.09. Butterfly Network, Inc. has a 12 month low of $1.32 and a 12 month high of $9.69. The stock has a fifty day moving average price of $6.83 and a 200 day moving average price of $5.06.
Butterfly Network (NYSE:BFLY - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03. Butterfly Network had a negative net margin of 66.74% and a negative return on equity of 33.99%. The company had revenue of $32.61 million during the quarter, compared to the consensus estimate of $29.16 million. As a group, research analysts anticipate that Butterfly Network, Inc. will post -0.18 earnings per share for the current year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. KBC Group NV bought a new stake in shares of Butterfly Network during the first quarter valued at about $25,000. Ameriprise Financial Inc. bought a new position in Butterfly Network in the 3rd quarter valued at about $25,000. BNP Paribas Financial Markets grew its position in Butterfly Network by 707.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 16,258 shares of the company's stock valued at $33,000 after buying an additional 14,244 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in Butterfly Network during the 4th quarter valued at about $38,000. Finally, Sfmg LLC acquired a new position in Butterfly Network during the 4th quarter valued at about $39,000. 37.85% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Butterfly Network in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.56.
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About Butterfly Network
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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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