Heather C. Getz Sells 30,136 Shares of Butterfly Network, Inc. (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) CFO Heather C. Getz sold 30,136 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $3.06, for a total transaction of $92,216.16. Following the sale, the chief financial officer now directly owns 2,669,333 shares of the company’s stock, valued at $8,168,158.98. This trade represents a 1.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Butterfly Network Price Performance

NYSE BFLY traded up $0.29 during trading hours on Thursday, hitting $3.40. The company’s stock had a trading volume of 2,523,697 shares, compared to its average volume of 2,125,981. Butterfly Network, Inc. has a 12 month low of $0.67 and a 12 month high of $3.78. The company’s 50 day simple moving average is $2.76 and its two-hundred day simple moving average is $1.79. The company has a market cap of $724.41 million, a P/E ratio of -7.39 and a beta of 2.46.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings results on Friday, November 1st. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $20.56 million during the quarter, compared to analyst estimates of $19.12 million. Butterfly Network had a negative net margin of 129.25% and a negative return on equity of 42.68%. During the same period in the previous year, the business posted ($0.13) earnings per share. As a group, research analysts predict that Butterfly Network, Inc. will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Butterfly Network

A number of hedge funds have recently added to or reduced their stakes in BFLY. Geode Capital Management LLC boosted its stake in shares of Butterfly Network by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,721,723 shares of the company’s stock worth $3,049,000 after buying an additional 65,425 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Butterfly Network by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,331 shares of the company’s stock worth $1,691,000 after purchasing an additional 35,800 shares during the last quarter. XTX Topco Ltd boosted its position in Butterfly Network by 169.7% in the third quarter. XTX Topco Ltd now owns 360,392 shares of the company’s stock worth $638,000 after purchasing an additional 226,781 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Butterfly Network by 46.5% during the 2nd quarter. Renaissance Technologies LLC now owns 343,100 shares of the company’s stock valued at $288,000 after purchasing an additional 108,944 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Butterfly Network by 353.7% in the 2nd quarter. Marshall Wace LLP now owns 318,383 shares of the company’s stock worth $267,000 after purchasing an additional 248,201 shares during the period. 37.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital began coverage on Butterfly Network in a research note on Tuesday, September 10th. They set a “buy” rating and a $3.00 target price on the stock.

Butterfly Network Company Profile

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.