Insider Selling: 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 firm’s 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 completion of the transaction, the chief financial officer now directly owns 2,669,333 shares of the company’s stock, valued at $8,168,158.98. This 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 this hyperlink.

Butterfly Network Trading Up 1.8 %

Shares of NYSE:BFLY opened at $3.46 on Friday. The firm has a 50 day simple moving average of $2.83 and a 200-day simple moving average of $1.82. Butterfly Network, Inc. has a twelve month low of $0.67 and a twelve month high of $3.78. The company has a market capitalization of $737.19 million, a PE ratio of -7.52 and a beta of 2.46.

Butterfly Network (NYSE:BFLY) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company 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 quarter in the previous year, the company posted ($0.13) earnings per share. As a group, equities research analysts predict that Butterfly Network, Inc. will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Butterfly Network

Hedge funds have recently made changes to their positions in the business. Hartline Investment Corp grew its stake in shares of Butterfly Network by 87.0% in the 3rd quarter. Hartline Investment Corp now owns 21,500 shares of the company’s stock valued at $38,000 after purchasing an additional 10,000 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Butterfly Network during the third quarter worth $44,000. Barclays PLC grew its position in Butterfly Network by 27,790.0% in the 3rd quarter. Barclays PLC now owns 25,101 shares of the company’s stock valued at $44,000 after buying an additional 25,011 shares during the last quarter. Verition Fund Management LLC acquired a new position in Butterfly Network in the 3rd quarter valued at $57,000. Finally, Point72 DIFC Ltd raised its position in Butterfly Network by 1,271.4% during the 2nd quarter. Point72 DIFC Ltd now owns 77,418 shares of the company’s stock worth $65,000 after buying an additional 71,773 shares during the last quarter. Institutional investors and hedge funds own 37.85% of the company’s stock.

Wall Street Analysts Forecast Growth

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