Key Points
- Insider Steve Cashman sold 140,112 Butterfly Network shares at an average price of $7.30, generating approximately $1.02 million. The sale was made to cover tax-withholding obligations tied to vested equity awards, leaving him with 1,490,295 shares.
- Butterfly Network recently reported quarterly revenue of $32.61 million and adjusted its loss to $0.01 per share, beating analysts’ estimates. However, the company continues to post negative profitability metrics, including a net margin of -66.74%.
- Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $5.56, below the stock’s reported $7.49 opening price. Institutional investors and hedge funds own approximately 37.85% of the company.
Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) CAO Megan Carlson sold 13,804 shares of Butterfly Network stock in a transaction on Friday, September 4th. The shares were sold at an average price of $7.30, for a total transaction of $100,769.20. Following the completion of the transaction, the chief accounting officer directly owned 412,085 shares of the company's stock, valued at $3,008,220.50. The trade was a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Megan Carlson also recently made the following trade(s):
- On Friday, July 31st, Megan Carlson sold 68,852 shares of Butterfly Network stock. The stock was sold at an average price of $7.86, for a total transaction of $541,176.72.
- On Thursday, July 2nd, Megan Carlson sold 41,303 shares of Butterfly Network stock. The shares were sold at an average price of $7.96, for a total value of $328,771.88.
Butterfly Network Stock Down 0.5%
Shares of Butterfly Network stock opened at $7.49 on Thursday. Butterfly Network, Inc. has a twelve month low of $1.47 and a twelve month high of $10.05. The business has a 50-day moving average price of $8.01 and a 200 day moving average price of $5.94. The firm has a market cap of $1.99 billion, a PE ratio of -25.81 and a beta of 2.08.
Butterfly Network (NYSE:BFLY - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.01) earnings per share for the quarter, topping 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 company had revenue of $32.61 million during the quarter, compared to analysts' expectations of $29.16 million. On average, sell-side analysts expect that Butterfly Network, Inc. will post -0.18 EPS for the current year.
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 investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $5.56.
Read Our Latest Stock Report on BFLY
Institutional Trading of Butterfly Network
Several large investors have recently made changes to their positions in the company. KBC Group NV acquired a new position in Butterfly Network in the 1st quarter valued at $25,000. Ameriprise Financial Inc. acquired a new stake in Butterfly Network during the 3rd quarter worth $25,000. BNP Paribas Financial Markets boosted its stake in Butterfly Network by 707.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 16,258 shares of the company's stock worth $33,000 after purchasing an additional 14,244 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Butterfly Network during the fourth quarter worth $38,000. Finally, Sfmg LLC purchased a new stake in shares of Butterfly Network during the fourth quarter worth $39,000. 37.85% of the stock is currently owned by hedge funds and other institutional investors.
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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