Butterfly Network (NYSE:BFLY) Shares Down 5.3% – Time to Sell?

Shares of Butterfly Network, Inc. (NYSE:BFLY) were down 5.3% on Friday . The company traded as low as $3.66 and last traded at $3.67. Approximately 1,403,489 shares changed hands during trading, a decline of 70% from the average daily volume of 4,748,226 shares. The stock had previously closed at $3.88.

Butterfly Network Stock Down 5.4 %

The company’s 50 day moving average price is $3.32 and its two-hundred day moving average price is $2.09. The firm has a market cap of $782.14 million, a PE ratio of -7.98 and a beta of 2.45.

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

Insider Activity at Butterfly Network

In other news, CFO Heather C. Getz sold 30,136 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $3.06, for a total transaction of $92,216.16. Following the transaction, the chief financial officer now owns 2,669,333 shares of the company’s stock, valued at approximately $8,168,158.98. This represents a 1.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steve Cashman sold 164,079 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $3.06, for a total value of $502,081.74. Following the transaction, the insider now owns 1,835,921 shares in the company, valued at approximately $5,617,918.26. This represents a 8.20 % decrease in their position. The disclosure for this sale can be found here. 27.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of Butterfly Network during the fourth quarter valued at approximately $46,000. Green Alpha Advisors LLC lifted its holdings in Butterfly Network by 15.7% during the fourth quarter. Green Alpha Advisors LLC now owns 185,996 shares of the company’s stock worth $580,000 after buying an additional 25,212 shares during the period. Barclays PLC boosted its position in Butterfly Network by 27,790.0% during the 3rd quarter. Barclays PLC now owns 25,101 shares of the company’s stock valued at $44,000 after acquiring an additional 25,011 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 valued at $3,049,000 after acquiring an additional 65,425 shares during the period. Finally, XTX Topco Ltd raised its position in shares of Butterfly Network by 169.7% in the 3rd quarter. XTX Topco Ltd now owns 360,392 shares of the company’s stock worth $638,000 after acquiring an additional 226,781 shares in the last quarter. Hedge funds and other institutional investors own 37.85% of the company’s 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.