Key Points
- CEO Joseph Devivo sold 90,600 Butterfly Network shares at an average of $7.01, for about $635,106. After the sale, he still owned 7,221,330 shares.
- Butterfly Network reported quarterly EPS of -$0.01, beating the -$0.04 consensus, and revenue of $32.6 million, above the $28.37 million estimate.
- Analysts’ average rating is Moderate Buy, with an average price target of $8.75.
Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) CEO Joseph Devivo sold 90,600 shares of Butterfly Network stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $7.01, for a total value of $635,106.00. Following the completion of the sale, the chief executive officer owned 7,221,330 shares of the company's stock, valued at $50,621,523.30. This trade represents a 1.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Joseph Devivo also recently made the following trade(s):
- On Tuesday, October 6th, Joseph Devivo sold 35,790 shares of Butterfly Network stock. The shares were sold at an average price of $10.02, for a total transaction of $358,615.80.
- On Wednesday, September 23rd, Joseph Devivo sold 3,169 shares of Butterfly Network stock. The stock was sold at an average price of $10.02, for a total transaction of $31,753.38.
- On Tuesday, September 22nd, Joseph Devivo sold 2,811 shares of Butterfly Network stock. The stock was sold at an average price of $10.00, for a total transaction of $28,110.00.
- On Monday, August 10th, Joseph Devivo sold 68,346 shares of Butterfly Network stock. The stock was sold at an average price of $10.01, for a total transaction of $684,143.46.
Butterfly Network Stock Performance
Butterfly Network stock opened at $6.42 on Wednesday. Butterfly Network, Inc. has a 1 year low of $1.90 and a 1 year high of $10.21. The firm has a 50 day moving average price of $7.95 and a 200 day moving average price of $6.05. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -30.57 and a beta of 2.16.
Butterfly Network (NYSE:BFLY - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.03. The company had revenue of $32.60 million for the quarter, compared to the consensus estimate of $28.37 million. Butterfly Network had a negative net margin of 43.56% and a negative return on equity of 21.60%. Sell-side analysts predict that Butterfly Network, Inc. will post -0.18 EPS for the current year.
Wall Street Analysts Forecast Growth
BFLY has been the subject of a number of research analyst reports. Needham & Company LLC initiated coverage on Butterfly Network in a report on Tuesday, September 22nd. They set a "buy" rating and a $10.00 price objective for the company. TD Cowen reiterated a "buy" rating and issued a $10.00 target price on shares of Butterfly Network in a report on Friday, September 11th. Evercore initiated coverage on Butterfly Network in a research report on Tuesday, September 29th. They set an "outperform" rating and a $15.00 price target for the company. Canaccord Genuity Group assumed coverage on Butterfly Network in a research note on Monday, October 12th. They set a "buy" rating and a $10.00 price target for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Butterfly Network in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $8.75.
Get Our Latest Research Report on Butterfly Network
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Calamos Advisors LLC grew its stake in Butterfly Network by 8.1% during the third quarter. Calamos Advisors LLC now owns 631,690 shares of the company's stock worth $5,660,000 after buying an additional 47,600 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Butterfly Network by 4.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 141,205 shares of the company's stock valued at $1,265,000 after acquiring an additional 5,999 shares during the period. Vise Technologies Inc. purchased a new position in shares of Butterfly Network in the 3rd quarter valued at $139,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Butterfly Network during the 3rd quarter valued at $46,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of Butterfly Network by 880.0% during the 3rd quarter. Sterling Capital Management LLC now owns 7,242 shares of the company's stock valued at $65,000 after acquiring an additional 6,503 shares in the last quarter. 37.85% of the stock is owned by institutional investors and hedge funds.
About Butterfly Network
(
Get Free Report)
Butterfly Network, Inc develops portable medical imaging technology designed to make ultrasound more accessible across hospitals, clinics, emergency-care settings and other care environments. The company's core products use a semiconductor-based ultrasound-on-chip platform, replacing conventional ultrasound systems' large arrays of piezoelectric transducers with a compact, software-driven probe.
Its product portfolio includes the Butterfly iQ, iQ+, and iQ3 handheld ultrasound systems, which connect to compatible mobile devices and provide imaging across multiple clinical applications.
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