Butterfly Network, Inc. (NYSE:BFLY) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its position in shares of Butterfly Network, Inc. (NYSE:BFLY) by 27.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 925,518 shares of the company’s stock after selling 347,484 shares during the period. GSA Capital Partners LLP’s holdings in Butterfly Network were worth $1,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BFLY. Point72 DIFC Ltd increased its position in Butterfly Network by 1,271.4% during the second quarter. Point72 DIFC Ltd now owns 77,418 shares of the company’s stock worth $65,000 after purchasing an additional 71,773 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Butterfly Network during the second quarter worth about $90,000. Oppenheimer & Co. Inc. boosted its stake in Butterfly Network by 645.1% during the first quarter. Oppenheimer & Co. Inc. now owns 87,180 shares of the company’s stock worth $94,000 after buying an additional 75,480 shares during the period. Cannon Global Investment Management LLC purchased a new position in Butterfly Network during the third quarter worth about $100,000. Finally, Texas Capital Bank Wealth Management Services Inc boosted its stake in Butterfly Network by 42.9% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock worth $108,000 after buying an additional 30,000 shares during the period. 37.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Butterfly Network news, Director Larry Robbins acquired 244,774 shares of the stock in a transaction dated Friday, August 30th. The stock was acquired at an average price of $1.07 per share, with a total value of $261,908.18. Following the completion of the purchase, the director now owns 9,955,144 shares in the company, valued at $10,652,004.08. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 27.28% of the company’s stock.

Butterfly Network Stock Performance

NYSE BFLY opened at $2.68 on Wednesday. The firm has a 50 day simple moving average of $1.86 and a 200-day simple moving average of $1.30. Butterfly Network, Inc. has a one year low of $0.67 and a one year high of $2.92. The firm has a market cap of $571.01 million, a price-to-earnings ratio of -5.80 and a beta of 2.17.

Butterfly Network (NYSE:BFLY) last posted its quarterly earnings data on Friday, November 1st. The company reported ($0.08) EPS for the quarter, beating the consensus estimate 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 business had revenue of $20.56 million during the quarter, compared to analyst estimates of $19.12 million. During the same quarter last year, the firm posted ($0.13) earnings per share. Equities analysts predict that Butterfly Network, Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Lake Street Capital started coverage on shares of Butterfly Network in a research note on Tuesday, September 10th. They set a “buy” rating and a $3.00 target price for the company.

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.