Blueshift Asset Management LLC acquired a new position in shares of Butterfly Network, Inc. (NYSE:BFLY – Get Rating) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 55,422 shares of the company's stock, valued at approximately $264,000.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in Butterfly Network by 2.4% during the 1st quarter. Bank of New York Mellon Corp now owns 428,825 shares of the company's stock worth $2,041,000 after buying an additional 9,936 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Butterfly Network by 50.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 68,328 shares of the company's stock valued at $325,000 after buying an additional 22,931 shares during the period. Raymond James & Associates lifted its holdings in shares of Butterfly Network by 21.4% in the 1st quarter. Raymond James & Associates now owns 523,185 shares of the company's stock valued at $2,490,000 after buying an additional 92,240 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in Butterfly Network by 32.6% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 476,750 shares of the company's stock worth $2,269,000 after purchasing an additional 117,080 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Butterfly Network by 12.9% in the 1st quarter. JPMorgan Chase & Co. now owns 115,044 shares of the company's stock worth $547,000 after purchasing an additional 13,149 shares during the period. 49.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on BFLY. Cowen cut their price objective on Butterfly Network from $12.00 to $7.00 in a research note on Wednesday, May 11th. Cowen dropped their price target on Butterfly Network from $12.00 to $7.00 in a research report on Wednesday, May 11th.

Butterfly Network Stock Performance

Butterfly Network (NYSE:BFLY – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.09. The company had revenue of $19.22 million for the quarter. Butterfly Network had a negative return on equity of 25.69% and a negative net margin of 159.44%. During the same period in the previous year, the business posted ($0.19) EPS. As a group, equities research analysts forecast that Butterfly Network, Inc. will post -0.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Darius Shahida sold 16,069 shares of the firm's stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $3.18, for a total transaction of $51,099.42. Following the transaction, the insider now owns 676,932 shares of the company's stock, valued at $2,152,643.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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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