Jonathan Rothberg Sells 288,918 Shares of Butterfly Network (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) Director Jonathan Rothberg sold 288,918 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $3.13, for a total value of $904,313.34. Following the transaction, the director owned 255,976 shares in the company, valued at approximately $801,204.88. This represents a 53.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Butterfly Network Stock Performance

NYSE:BFLY opened at $3.00 on Friday. Butterfly Network, Inc. has a one year low of $1.32 and a one year high of $4.98. The stock has a market cap of $757.80 million, a PE ratio of -9.09 and a beta of 2.34. The stock has a 50 day moving average price of $2.55 and a 200 day moving average price of $2.10.

Butterfly Network (NYSE:BFLY) last released its quarterly earnings data on Friday, October 31st. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Butterfly Network had a negative return on equity of 37.80% and a negative net margin of 90.31%.The company had revenue of $21.49 million for the quarter, compared to analyst estimates of $21.23 million. As a group, analysts predict that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BFLY shares. Weiss Ratings restated a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Butterfly Network from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.00.

Institutional Trading of Butterfly Network

A number of large investors have recently made changes to their positions in BFLY. Ashton Thomas Private Wealth LLC purchased a new stake in Butterfly Network during the second quarter worth $25,000. Ameriprise Financial Inc. acquired a new position in Butterfly Network in the 3rd quarter valued at $25,000. CTC Alternative Strategies Ltd. purchased a new position in shares of Butterfly Network during the 1st quarter worth $29,000. Deutsche Bank AG acquired a new stake in shares of Butterfly Network during the first quarter worth $31,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Butterfly Network during the third quarter worth $32,000. 37.85% of the stock is owned by institutional investors and hedge funds.

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.