Traders Purchase Large Volume of Call Options on Butterfly Network (NYSE:BFLY)

Butterfly Network, Inc. (NYSE:BFLY) was the recipient of unusually large options trading on Thursday. Stock traders purchased 10,005 call options on the company. This represents an increase of 146% compared to the average volume of 4,061 call options.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BFLY. Wall Street Zen upgraded shares of Butterfly Network from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Lake Street Capital raised their target price on shares of Butterfly Network from $4.00 to $5.50 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Loop Capital set a $5.00 price target on shares of Butterfly Network in a report on Wednesday, December 31st. TD Cowen increased their price target on Butterfly Network from $4.50 to $6.00 and gave the company a “buy” rating in a research note on Friday. Finally, Craig Hallum reiterated a “buy” rating and set a $5.25 target price on shares of Butterfly Network in a research report on Wednesday, January 21st. Four 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.44.

Insider Activity

In related news, Director Jonathan M. Rothberg sold 769,327 shares of Butterfly Network stock in a transaction on Monday, December 8th. The stock was sold at an average price of $3.27, for a total value of $2,515,699.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 4,725,727 shares of company stock valued at $16,172,849. Company insiders own 25.18% of the company’s stock.

Institutional Investors Weigh In On Butterfly Network

Several institutional investors have recently bought and sold shares of BFLY. AWM Investment Company Inc. increased its position in shares of Butterfly Network by 750.0% during the fourth quarter. AWM Investment Company Inc. now owns 3,400,000 shares of the company’s stock worth $12,920,000 after purchasing an additional 3,000,000 shares in the last quarter. Geode Capital Management LLC increased its position in Butterfly Network by 114.7% during the 2nd quarter. Geode Capital Management LLC now owns 4,339,362 shares of the company’s stock valued at $8,680,000 after buying an additional 2,317,882 shares in the last quarter. First Light Asset Management LLC increased its holdings in shares of Butterfly Network by 149.3% during the fourth quarter. First Light Asset Management LLC now owns 2,812,131 shares of the company’s stock valued at $10,686,000 after acquiring an additional 1,684,133 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Butterfly Network in the second quarter worth $2,183,000. Finally, Deutsche Bank AG increased its position in shares of Butterfly Network by 156.7% in the 4th quarter. Deutsche Bank AG now owns 1,652,237 shares of the company’s stock valued at $6,279,000 after acquiring an additional 1,008,556 shares during the period. 37.85% of the stock is currently owned by institutional investors and hedge funds.

Butterfly Network Stock Performance

Butterfly Network stock opened at $3.78 on Friday. The company has a 50 day moving average price of $3.82 and a 200-day moving average price of $2.78. The company has a market capitalization of $955.59 million, a PE ratio of -12.20 and a beta of 2.27. Butterfly Network has a fifty-two week low of $1.32 and a fifty-two week high of $5.03.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. Butterfly Network had a negative return on equity of 32.05% and a negative net margin of 78.95%.The firm had revenue of $31.51 million for the quarter, compared to analyst estimates of $26.25 million. On average, analysts forecast that Butterfly Network will post -0.35 earnings per share for the current year.

Key Butterfly Network News

Here are the key news stories impacting Butterfly Network this week:

• Positive Sentiment: TD Cowen raised its price target to $6.00 and reiterated a “buy” rating, signaling material upside vs. the current level and providing broker support for the stock. TD Cowen Raises PT to $6
• Positive Sentiment: Q4 results beat expectations: revenue of $31.5M topped consensus and EPS loss was smaller than forecast, while commentary and press materials highlighted record revenue growth. These results underpin the revenue-outperformance narrative. Q4 Highlights
• Positive Sentiment: Management issued FY2026 revenue guidance ($117M–$121M) above Street consensus (~$108.5M), which is a key near-term growth guidepost for investors watching topline momentum.
• Positive Sentiment: Unusually large options activity—over 10,000 call contracts bought—indicates speculative or institutional bullish positioning that could amplify upside on positive follow-through.
• Positive Sentiment: Industry/strategy write-ups emphasize Butterfly’s semiconductor-based ultrasound plus AI (Compass) as a long-term competitive differentiator if execution scales, supporting a multi-quarter growth thesis. Seeking Alpha: Ultrasound-On-Chip
• Neutral Sentiment: The full Q4 earnings call transcript and BusinessWire release provide more color on margin dynamics and product adoption; useful for confirming management cadence but not immediately market-moving on their own. Earnings Call Transcript Press Release
• Negative Sentiment: Zacks added BFLY to its Rank #5 (Strong Sell) list today, a clear near-term negative that can trigger selling pressure from algorithmic and momentum-driven funds. Zacks Rank #5
• Negative Sentiment: Company remains unprofitable (large negative net margin and negative ROE), which keeps multiples constrained and makes the stock sensitive to any miss in profitability or guidance cadence. Q4 Loss / Margin Detail

About Butterfly Network

Butterfly Network, Inc is a medical technology company focused on democratizing access to diagnostic imaging through its proprietary ultrasound-on-chip platform. The company’s flagship device, the Butterfly iQ, leverages semiconductor technology to deliver whole-body ultrasound imaging in a handheld form factor. This portable system connects to a compatible smart device, enabling point-of-care scanning across a variety of clinical settings.

Beyond its hardware offering, Butterfly Network provides a cloud-based software suite that supports image storage, analysis and remote collaboration.