Butterfly Network (NYSE:BFLY) CAO Megan Carlson Sells 68,852 Shares of Stock

Butterfly Network, Inc. (NYSE:BFLY) CAO Megan Carlson sold 68,852 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $7.86, for a total transaction of $541,176.72. Following the completion of the transaction, the chief accounting officer directly owned 425,889 shares in the company, valued at approximately $3,347,487.54. This represents a 13.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Megan Carlson also recently made the following trade(s):

• On Thursday, July 2nd, Megan Carlson sold 41,303 shares of Butterfly Network stock. The shares were sold at an average price of $7.96, for a total value of $328,771.88.

Butterfly Network Price Performance

Shares of NYSE BFLY opened at $8.89 on Wednesday. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -30.64 and a beta of 2.09. Butterfly Network, Inc. has a 1-year low of $1.32 and a 1-year high of $9.69. The business has a 50-day moving average of $6.83 and a 200-day moving average of $5.06.

Butterfly Network (NYSE:BFLY) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.03. The firm had revenue of $32.61 million for the quarter, compared to analyst estimates of $29.16 million. Butterfly Network had a negative return on equity of 33.99% and a negative net margin of 66.74%. Research analysts expect that Butterfly Network, Inc. will post -0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Butterfly Network

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of 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 valued at $358,000 after purchasing an additional 2,000 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Butterfly Network by 24.0% in the first quarter. Principal Financial Group Inc. now owns 14,247 shares of the company’s stock valued at $58,000 after buying an additional 2,753 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Butterfly Network by 25.4% during the fourth quarter. Farther Finance Advisors LLC now owns 15,281 shares of the company’s stock valued at $58,000 after buying an additional 3,098 shares in the last quarter. Opal Wealth Advisors LLC lifted its holdings in Butterfly Network by 10.1% during the 4th quarter. Opal Wealth Advisors LLC now owns 36,679 shares of the company’s stock worth $139,000 after buying an additional 3,355 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of Butterfly Network by 11.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 55,517 shares of the company’s stock worth $211,000 after acquiring an additional 5,500 shares in the last quarter. Institutional investors own 37.85% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Butterfly Network in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.56.

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.