Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) Director S. Louise Phanstiel bought 115,200 shares of Butterfly Network stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $8.68 per share, with a total value of $999,936.00. Following the completion of the purchase, the director owned 300,461 shares in the company, valued at $2,608,001.48. This trade represents a 62.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Butterfly Network Stock Performance
BFLY stock opened at $9.02 on Tuesday. The stock's 50 day simple moving average is $7.60 and its 200 day simple moving average is $5.35. Butterfly Network, Inc. has a fifty-two week low of $1.34 and a fifty-two week high of $10.05. The company has a market cap of $2.40 billion, a P/E ratio of -31.10 and a beta of 2.09.
Butterfly Network (NYSE:BFLY - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.03. Butterfly Network had a negative return on equity of 33.99% and a negative net margin of 66.74%.The firm had revenue of $32.61 million during the quarter, compared to analysts' expectations of $29.16 million. Equities analysts predict that Butterfly Network, Inc. will post -0.18 earnings per share for the current year.
Institutional Trading of Butterfly Network
A number of institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV bought a new position in shares of Butterfly Network in the first quarter valued at approximately $25,000. ExodusPoint Capital Management LP bought a new stake in Butterfly Network during the 4th quarter worth approximately $38,000. Sfmg LLC purchased a new stake in Butterfly Network in the 4th quarter worth approximately $39,000. Sanctuary Advisors LLC purchased a new stake in Butterfly Network in the 4th quarter worth approximately $40,000. Finally, Merit Financial Group LLC bought a new position in Butterfly Network in the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 37.85% of the company's stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Butterfly Network in a research note on Monday, August 3rd. Three investment 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. According to MarketBeat.com, Butterfly Network currently has an average rating of "Hold" and a consensus target price of $5.56.
Read Our Latest Stock Report on Butterfly Network
Butterfly Network Company Profile
(
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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