Butterfly Network, Inc. (NYSE:BFLY) Director Acquires $261,908.18 in Stock

Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) Director Larry Robbins acquired 244,774 shares of Butterfly Network stock in a transaction dated Friday, August 30th. The stock was purchased at an average price of $1.07 per share, with a total value of $261,908.18. Following the completion of the purchase, the director now owns 9,955,144 shares of the company's stock, valued at $10,652,004.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Butterfly Network Price Performance

BFLY stock traded up $0.35 during trading on Wednesday, hitting $1.54. 10,484,836 shares of the company traded hands, compared to its average volume of 1,735,855. The stock's 50-day simple moving average is $1.03 and its 200 day simple moving average is $1.01. The company has a market cap of $324.49 million, a PE ratio of -2.58 and a beta of 2.14. Butterfly Network, Inc. has a 1 year low of $0.67 and a 1 year high of $1.93.

Butterfly Network (NYSE:BFLY - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.05. The company had revenue of $21.49 million during the quarter, compared to analysts' expectations of $20.06 million. Butterfly Network had a negative return on equity of 43.77% and a negative net margin of 153.29%. During the same period last year, the business earned ($0.14) earnings per share. Research analysts expect that Butterfly Network, Inc. will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BFLY. Cetera Advisors LLC purchased a new stake in shares of Butterfly Network in the first quarter valued at approximately $1,250,000. Archon Capital Management LLC purchased a new stake in shares of Butterfly Network in the first quarter valued at approximately $352,000. Marshall Wace LLP increased its position in shares of Butterfly Network by 353.7% in the second quarter. Marshall Wace LLP now owns 318,383 shares of the company's stock valued at $267,000 after buying an additional 248,201 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Butterfly Network by 1,045.0% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 256,974 shares of the company's stock valued at $216,000 after buying an additional 234,530 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Butterfly Network by 2.9% in the first quarter. Vanguard Group Inc. now owns 7,885,238 shares of the company's stock valued at $8,516,000 after buying an additional 218,720 shares in the last quarter. 37.85% of the stock is currently owned by hedge funds and other institutional investors.

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.

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