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In a recent filing with the Securities and Exchange Commission, Butterfly Network, Inc. (NYSE:BFLY) disclosed that its Chief Technology Officer, Stoica Andrei G, sold 3,354 shares of the company’s Class A common stock. The transaction, which took place on March 26, 2025, was executed at an average price of $2.688 per share, totaling approximately $9,015. The stock, currently trading at $2.37, has shown significant volatility with a 126% gain over the past year, according to InvestingPro data.
This sale was part of a "sell-to-cover" policy adopted by Butterfly Network to satisfy tax withholding obligations related to the vesting of restricted stock units. As noted in the filing, these sales were automatic and not at the discretion of Stoica Andrei G. The company maintains strong liquidity with a current ratio of 3.99x, indicating robust short-term financial health.
Following this transaction, Andrei holds 1,601,987 shares of Butterfly Network, maintaining a significant stake in the company valued at current market prices. Based on InvestingPro analysis, the stock appears fairly valued, with 8 additional key insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, Butterfly Network reported fourth-quarter revenue of $22.4 million, surpassing analyst estimates of $20.1 million, marking a 35% year-over-year increase. Despite this strong performance, shares dipped slightly as investors seemed unimpressed with the company’s fiscal 2025 revenue projection of $96-100 million, which aligns with Wall Street’s estimate and suggests about 20% growth. TD Cowen analyst Joshua Jennings reiterated a Buy rating on Butterfly Network shares, maintaining a price target of $4.50, and noted the company’s fourth-quarter sales and EBITDA results exceeded expectations. Jennings expressed confidence in Butterfly Network’s strategic direction, highlighting the company’s recent financial achievements and future prospects, including the worldwide rollout of its iQ3 product.
In another development, William Blair initiated coverage of Butterfly Network with an Outperform rating, citing the company’s innovative Ultrasound-on-Chip technology as a transformative force in the digital ultrasound market. Analysts at William Blair are optimistic about Butterfly Network’s potential to expand its reach and impact within the healthcare industry, which could lead to significant growth in shareholder value. Furthermore, TD Cowen adjusted its price target for Butterfly Network to $5.00, up from $4.50, while maintaining a Buy rating, pointing to the company’s impressive quarterly performance and conservative 2025 revenue guidance. The firm highlighted Butterfly Network’s progress towards profitability and advances in initiatives like Butterfly Garden, Octiv, and HomeCare as key drivers for future growth.
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