Key Points
- Butterfly Network’s general counsel Nicholas Caezza sold 1,709 shares at an average of $8.15, worth $13,928.35, reducing his position by 0.56%. The sale was made to cover tax withholding tied to vested equity awards.
- Butterfly Network reported quarterly revenue of $32.61 million and an adjusted loss of $0.01 per share, exceeding analysts’ expectations, but continued to post negative margins and return on equity.
- Analyst sentiment remains mixed, with a consensus “Hold” rating and a $5.56 price target, below the stock’s reported opening price of $7.33.
Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) General Counsel Nicholas Caezza sold 1,709 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $8.15, for a total transaction of $13,928.35. Following the completion of the sale, the general counsel owned 305,166 shares in the company, valued at $2,487,102.90. The trade was a 0.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Nicholas Caezza also recently made the following trade(s):
- On Tuesday, August 11th, Nicholas Caezza sold 10,000 shares of Butterfly Network stock. The stock was sold at an average price of $9.75, for a total value of $97,500.00.
Butterfly Network Price Performance
Shares of BFLY stock opened at $7.33 on Friday. Butterfly Network, Inc. has a 12-month low of $1.47 and a 12-month high of $10.05. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -25.28 and a beta of 2.08. The business has a 50 day simple moving average of $8.07 and a 200 day simple moving average of $5.82.
Butterfly Network (NYSE:BFLY - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $29.16 million. On average, equities analysts anticipate that Butterfly Network, Inc. will post -0.18 EPS for the current fiscal year.
Institutional Investors Weigh In On Butterfly Network
Institutional investors and hedge funds have recently bought and sold shares of the business. KBC Group NV bought a new position in shares of Butterfly Network during the 1st quarter valued at about $25,000. ExodusPoint Capital Management LP bought a new stake in Butterfly Network during the fourth quarter worth approximately $38,000. Sfmg LLC acquired a new position in Butterfly Network in the fourth quarter worth approximately $39,000. Sanctuary Advisors LLC acquired a new position in Butterfly Network in the fourth quarter worth approximately $40,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Butterfly Network in the second quarter valued at $100,000. 37.85% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Butterfly Network in a report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $5.56.
View Our Latest Research 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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
