Butterfly Network, Inc. (NYSE:BFLY) CFO Sells $92,216.16 in Stock

Butterfly Network, Inc. (NYSE:BFLY) CFO Heather C. Getz sold 30,136 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $3.06, for a total transaction of $92,216.16. Following the transaction, the chief financial officer now owns 2,669,333 shares in the company, valued at approximately $8,168,158.98. This trade represents a 1.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Butterfly Network Stock Up 9.3 %

Butterfly Network stock opened at $3.40 on Friday. Butterfly Network, Inc. has a 52-week low of $0.67 and a 52-week high of $3.78. The company has a market cap of $724.41 million, a P/E ratio of -7.39 and a beta of 2.46. The business has a 50-day simple moving average of $2.80 and a two-hundred day simple moving average of $1.80.

Butterfly Network (NYSE:BFLY) last announced its earnings results on Friday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. Butterfly Network had a negative net margin of 129.25% and a negative return on equity of 42.68%. The company had revenue of $20.56 million during the quarter, compared to analyst estimates of $19.12 million. During the same period in the previous year, the business posted ($0.13) earnings per share. Research analysts anticipate that Butterfly Network, Inc. will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Butterfly Network

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Butterfly Network by 4.0% during the third quarter. Geode Capital Management LLC now owns 1,721,723 shares of the company’s stock valued at $3,049,000 after purchasing an additional 65,425 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Butterfly Network by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,331 shares of the company’s stock valued at $1,691,000 after buying an additional 35,800 shares in the last quarter. XTX Topco Ltd grew its stake in shares of Butterfly Network by 169.7% during the 3rd quarter. XTX Topco Ltd now owns 360,392 shares of the company’s stock valued at $638,000 after acquiring an additional 226,781 shares during the period. Renaissance Technologies LLC increased its holdings in Butterfly Network by 46.5% in the 2nd quarter. Renaissance Technologies LLC now owns 343,100 shares of the company’s stock worth $288,000 after acquiring an additional 108,944 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Butterfly Network by 353.7% during the 2nd quarter. Marshall Wace LLP now owns 318,383 shares of the company’s stock worth $267,000 after acquiring an additional 248,201 shares during the period. 37.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Lake Street Capital started coverage on Butterfly Network in a report on Tuesday, September 10th. They set a “buy” rating and a $3.00 price target on the stock.

Butterfly Network Company Profile

Butterfly Network, Inc develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. It offers Butterfly iQ, a handheld and single-probe whole body ultrasound system; Butterfly iQ+ and iQ3 ultrasound devices that can perform whole-body imaging in a single handheld probe integrated with the clinical workflow, and accessible on a user's smartphone, tablet, and almost any hospital computer system; and Butterfly iQ+ Vet, a handheld ultrasound system designed for veterinarians.