Butterfly Network, Inc. (NASDAQ:BFLY) Insider Darius Shahida Sells 16,069 Shares

Butterfly Network, Inc. (NASDAQ:BFLY – Get Rating) insider Darius Shahida sold 16,069 shares of the firm’s stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $3.18, for a total transaction of $51,099.42. Following the completion of the sale, the insider now owns 676,932 shares of the company’s stock, valued at approximately $2,152,643.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of BFLY stock traded up $0.25 during midday trading on Thursday, reaching $3.50. 1,862,115 shares of the company traded hands, compared to its average volume of 2,645,544. The firm’s 50 day simple moving average is $3.31 and its two-hundred day simple moving average is $4.89. Butterfly Network, Inc. has a 1-year low of $2.31 and a 1-year high of $14.71.

Butterfly Network (NASDAQ:BFLY – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.22) earnings per share (EPS) for the quarter. Butterfly Network had a negative net margin of 115.98% and a negative return on equity of 24.95%. The company had revenue of $15.57 million for the quarter. During the same period last year, the firm posted ($0.46) EPS. Sell-side analysts forecast that Butterfly Network, Inc. will post -1.12 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Masso Torrence Wealth Management Inc. purchased a new position in shares of Butterfly Network during the 4th quarter worth approximately $30,000. Baldwin Brothers LLC MA increased its stake in shares of Butterfly Network by 500.0% during the 1st quarter. Baldwin Brothers LLC MA now owns 6,000 shares of the company’s stock worth $29,000 after purchasing an additional 5,000 shares in the last quarter. Spire Wealth Management purchased a new position in shares of Butterfly Network during the 4th quarter worth approximately $41,000. Itau Unibanco Holding S.A. purchased a new position in shares of Butterfly Network during the 4th quarter worth approximately $44,000. Finally, Clearstead Advisors LLC increased its stake in shares of Butterfly Network by 448.0% during the 4th quarter. Clearstead Advisors LLC now owns 9,590 shares of the company’s stock worth $64,000 after purchasing an additional 7,840 shares in the last quarter. Institutional investors own 61.04% of the company’s stock.

Separately, Cowen reduced their price objective on shares of Butterfly Network from $12.00 to $7.00 in a research report on Wednesday, May 11th.

Butterfly Network Company Profile (Get Rating)

Butterfly Network, Inc, a digital health company, 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+, a point-of-care ultrasound imaging device that connects with a smartphone, tablet, and hospital computer system; and Butterfly Blueprint, a system-wide ultrasound platform with Compass software that integrates into a healthcare system's clinical and administrative infrastructure.

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