Nicholas Caezza Sells 1,709 Shares of Butterfly Network (NYSE:BFLY) Stock

Butterfly Network, Inc. (NYSE:BFLY) General Counsel Nicholas Caezza sold 1,709 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $8.15, for a total transaction of $13,928.35. Following the completion of the transaction, the general counsel owned 305,166 shares in the company, valued at $2,487,102.90. This trade represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nicholas Caezza also recently made the following trade(s):

• On Tuesday, August 11th, Nicholas Caezza sold 10,000 shares of Butterfly Network stock. The stock was sold at an average price of $9.75, for a total transaction of $97,500.00.

Butterfly Network Stock Up 0.5%

NYSE BFLY opened at $7.33 on Friday. The company has a market capitalization of $1.95 billion, a P/E ratio of -25.28 and a beta of 2.08. Butterfly Network, Inc. has a 12-month low of $1.47 and a 12-month high of $10.05. The firm has a 50-day moving average price of $8.07 and a two-hundred day moving average price of $5.82.

Butterfly Network (NYSE:BFLY) last announced its 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. Butterfly Network had a negative net margin of 66.74% and a negative return on equity of 33.99%. The company had revenue of $32.61 million for the quarter, compared to analysts’ expectations of $29.16 million. Equities analysts expect that Butterfly Network, Inc. will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Butterfly Network

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in shares of Butterfly Network by 71.0% in the 1st quarter. Bank of America Corp DE now owns 4,165,222 shares of the company’s stock worth $16,827,000 after acquiring an additional 1,728,938 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Butterfly Network during the 1st quarter valued at about $446,000. Dimensional Fund Advisors LP grew its stake in Butterfly Network by 30.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,358,181 shares of the company’s stock worth $9,524,000 after purchasing an additional 557,100 shares during the period. Sei Investments Co. increased its holdings in Butterfly Network by 30.6% in the first quarter. Sei Investments Co. now owns 2,298,894 shares of the company’s stock worth $9,288,000 after purchasing an additional 539,171 shares in the last quarter. Finally, Clough Capital Partners L P bought a new stake in Butterfly Network in the fourth quarter worth approximately $845,000. 37.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.