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.
Get Butterfly Network alerts: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
BFLY opened at $5.92 on Friday. Butterfly Network, Inc. has a one year low of $2.31 and a one year high of $13.56. The stock has a market capitalization of $1.18 billion, a PE ratio of -10.76 and a beta of 2.41. The business's 50 day moving average price is $5.60 and its 200 day moving average price is $4.10.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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