S. Louise Phanstiel Purchases 115,200 Shares of Butterfly Network (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) Director S. Louise Phanstiel acquired 115,200 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average price of $8.68 per share, for a total transaction of $999,936.00. Following the completion of the transaction, the director owned 300,461 shares of the company’s stock, valued at $2,608,001.48. The trade was a 62.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Butterfly Network Price Performance

Shares of BFLY opened at $9.00 on Wednesday. Butterfly Network, Inc. has a 1-year low of $1.34 and a 1-year high of $10.05. The company has a market capitalization of $2.40 billion, a P/E ratio of -31.02 and a beta of 2.09. The firm’s 50 day simple moving average is $7.68 and its 200 day simple moving average is $5.39.

Butterfly Network (NYSE:BFLY) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $32.61 million during the quarter, compared to analysts’ expectations of $29.16 million. Butterfly Network had a negative net margin of 66.74% and a negative return on equity of 33.99%. On average, equities analysts anticipate that Butterfly Network, Inc. will post -0.18 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Butterfly Network in a research note on Monday, August 3rd. Three 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 presently has an average rating of “Hold” and a consensus price target of $5.56.

Institutional Trading of Butterfly Network

Hedge funds have recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Butterfly Network by 4.9% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 42,500 shares of the company’s stock worth $358,000 after acquiring an additional 2,000 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Butterfly Network by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 55,326 shares of the company’s stock valued at $466,000 after acquiring an additional 2,125 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Butterfly Network by 24.0% during the first quarter. Principal Financial Group Inc. now owns 14,247 shares of the company’s stock valued at $58,000 after acquiring an additional 2,753 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Butterfly Network by 25.4% during the fourth quarter. Farther Finance Advisors LLC now owns 15,281 shares of the company’s stock worth $58,000 after purchasing an additional 3,098 shares during the period. Finally, Kestra Private Wealth Services LLC grew its stake in shares of Butterfly Network by 11.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 55,517 shares of the company’s stock worth $211,000 after purchasing an additional 5,500 shares during the last quarter. Institutional investors own 37.85% of the company’s stock.

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.