Insider Selling: Butterfly Network, Inc. (NYSE:BFLY) CFO Sells 30,136 Shares of Stock

Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) CFO Heather C. Getz sold 30,136 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $3.06, for a total transaction of $92,216.16. Following the completion of the sale, the chief financial officer now owns 2,669,333 shares of the company's stock, valued at approximately $8,168,158.98. The trade was a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Butterfly Network Trading Up 9.3 %

BFLY stock traded up $0.29 during midday trading on Thursday, hitting $3.40. The company had a trading volume of 2,524,606 shares, compared to its average volume of 2,127,707. The stock has a market cap of $724.41 million, a price-to-earnings ratio of -7.39 and a beta of 2.46. Butterfly Network, Inc. has a 52 week low of $0.67 and a 52 week high of $3.78. The stock's 50 day moving average price is $2.76 and its 200 day moving average price is $1.79.

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

Institutional Trading of Butterfly Network

Large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in Butterfly Network by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,331 shares of the company's stock worth $1,691,000 after purchasing an additional 35,800 shares in the last quarter. XTX Topco Ltd increased its position 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 period. Oppenheimer & Co. Inc. raised its stake in Butterfly Network by 22.0% in the third quarter. Oppenheimer & Co. Inc. now owns 258,920 shares of the company's stock worth $458,000 after buying an additional 46,630 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Butterfly Network in the third quarter worth about $57,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in Butterfly Network by 1,045.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 256,974 shares of the company's stock valued at $216,000 after acquiring an additional 234,530 shares in the last quarter. 37.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Lake Street Capital initiated coverage on Butterfly Network in a report on Tuesday, September 10th. They issued a "buy" rating and a $3.00 price objective on the stock.

About Butterfly Network

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.