Raymond James & Associates raised its position in shares of Butterfly Network, Inc. (NYSE:BFLY – Get Rating) by 11.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 546,373 shares of the company’s stock after acquiring an additional 57,046 shares during the period. Raymond James & Associates’ holdings in Butterfly Network were worth $2,568,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of the company. Exos Asset Management LLC boosted its stake in shares of Butterfly Network by 9.5% during the second quarter. Exos Asset Management LLC now owns 19,534 shares of the company’s stock valued at $60,000 after purchasing an additional 1,695 shares during the period. Game Plan Financial Advisors LLC lifted its stake in Butterfly Network by 15.0% in the second quarter. Game Plan Financial Advisors LLC now owns 23,000 shares of the company’s stock worth $69,000 after acquiring an additional 3,000 shares during the period. Chicago Partners Investment Group LLC lifted its stake in Butterfly Network by 28.5% in the first quarter. Chicago Partners Investment Group LLC now owns 18,912 shares of the company’s stock worth $57,000 after acquiring an additional 4,200 shares during the period. LPL Financial LLC lifted its stake in Butterfly Network by 7.0% in the second quarter. LPL Financial LLC now owns 64,178 shares of the company’s stock worth $197,000 after acquiring an additional 4,220 shares during the period. Finally, Private Advisor Group LLC lifted its stake in Butterfly Network by 31.0% in the first quarter. Private Advisor Group LLC now owns 21,986 shares of the company’s stock worth $105,000 after acquiring an additional 5,207 shares during the period. Institutional investors own 49.54% of the company’s stock.
In other news, insider Darius Shahida sold 26,885 shares of the company’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $2.36, for a total transaction of $63,448.60. Following the transaction, the insider now owns 629,908 shares in the company, valued at $1,486,582.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 28.36% of the company’s stock.
Butterfly Network Stock Performance
Butterfly Network (NYSE:BFLY – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The firm had revenue of $19.62 million for the quarter, compared to analysts’ expectations of $21.40 million. Butterfly Network had a negative net margin of 204.70% and a negative return on equity of 37.78%. As a group, equities analysts predict that Butterfly Network, Inc. will post -0.89 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on BFLY shares. B. Riley started coverage on shares of Butterfly Network in a research note on Tuesday, October 4th. They issued a “buy” rating and a $9.50 price objective for the company. Oppenheimer started coverage on shares of Butterfly Network in a research note on Monday, November 28th. They issued an “outperform” rating and a $4.50 price objective for the company.
Butterfly Network Company Profile
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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