Steve Cashman Sells 164,079 Shares of Butterfly Network, Inc. (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) insider Steve Cashman sold 164,079 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $3.06, for a total value of $502,081.74. Following the transaction, the insider now directly owns 1,835,921 shares of the company’s stock, valued at $5,617,918.26. The trade was a 8.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Butterfly Network Stock Up 1.8 %

BFLY opened at $3.46 on Friday. The business’s fifty day simple moving average is $2.83 and its 200 day simple moving average is $1.82. Butterfly Network, Inc. has a 52 week low of $0.67 and a 52 week high of $3.78. The stock has a market cap of $737.19 million, a PE ratio of -7.52 and a beta of 2.46.

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

Analyst Upgrades and Downgrades

Separately, Lake Street Capital initiated coverage on shares of Butterfly Network in a research note on Tuesday, September 10th. They issued a “buy” rating and a $3.00 price target for the company.

Institutional Investors Weigh In On Butterfly Network

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in shares of Butterfly Network by 4.0% during the 3rd 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 last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Butterfly Network by 3.9% during the third 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 during the last quarter. XTX Topco Ltd grew its stake in shares of Butterfly Network by 169.7% during the third quarter. XTX Topco Ltd now owns 360,392 shares of the company’s stock valued at $638,000 after buying an additional 226,781 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Butterfly Network by 46.5% in the second quarter. Renaissance Technologies LLC now owns 343,100 shares of the company’s stock worth $288,000 after buying an additional 108,944 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Butterfly Network by 353.7% in the 2nd quarter. Marshall Wace LLP now owns 318,383 shares of the company’s stock valued at $267,000 after acquiring an additional 248,201 shares during the last quarter. 37.85% of the stock is currently owned by institutional investors.

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.