Nicholas Caezza Sells 10,000 Shares of Butterfly Network (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) General Counsel Nicholas Caezza sold 10,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $9.75, for a total value of $97,500.00. Following the completion of the sale, the general counsel directly owned 300,307 shares in the company, valued at approximately $2,927,993.25. This represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Butterfly Network Price Performance

BFLY opened at $8.91 on Friday. The stock has a 50-day moving average price of $7.43 and a 200-day moving average price of $5.29. The firm has a market cap of $2.37 billion, a PE ratio of -30.72 and a beta of 2.09. Butterfly Network, Inc. has a 1 year low of $1.34 and a 1 year high of $10.05.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. The company had revenue of $32.61 million for the quarter, compared to the consensus estimate of $29.16 million. Butterfly Network had a negative net margin of 66.74% and a negative return on equity of 33.99%. As a group, sell-side analysts anticipate that Butterfly Network, Inc. will post -0.18 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Butterfly Network in a research report on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.56.

Institutional Investors Weigh In On Butterfly Network

Several large investors have recently bought and sold shares of BFLY. Tocqueville Asset Management L.P. lifted its stake in Butterfly Network by 52.7% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 174,800 shares of the company’s stock valued at $1,472,000 after acquiring an additional 60,300 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Butterfly Network in the second quarter worth approximately $4,878,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of Butterfly Network by 4.9% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 42,500 shares of the company’s stock valued at $358,000 after purchasing an additional 2,000 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Butterfly Network during the second quarter valued at approximately $463,000. Finally, Wisconsin Wealth Advisors LLC lifted its position in Butterfly Network by 33.3% during the second quarter. Wisconsin Wealth Advisors LLC now owns 40,000 shares of the company’s stock valued at $337,000 after purchasing an additional 10,000 shares during the period. 37.85% of the stock is currently owned by institutional investors.

Butterfly Network Company Profile

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.