Bridgeway Capital Management LLC Lowers Stock Holdings in Butterfly Network, Inc. (NYSE:BFLY)

Bridgeway Capital Management LLC reduced its position in shares of Butterfly Network, Inc. (NYSE:BFLY - Free Report) by 56.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 173,000 shares of the company's stock after selling 225,000 shares during the quarter. Bridgeway Capital Management LLC owned about 0.08% of Butterfly Network worth $540,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of Butterfly Network in the fourth quarter worth approximately $34,000. Verdence Capital Advisors LLC purchased a new stake in shares of Butterfly Network in the fourth quarter worth approximately $41,000. HBK Sorce Advisory LLC purchased a new stake in shares of Butterfly Network in the fourth quarter worth approximately $45,000. Dark Forest Capital Management LP purchased a new stake in shares of Butterfly Network in the fourth quarter worth approximately $45,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Butterfly Network in the fourth quarter worth approximately $46,000. 37.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Butterfly Network

In other Butterfly Network news, EVP Heather C. Getz sold 65,456 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $2.20, for a total transaction of $144,003.20. Following the sale, the executive vice president now owns 2,919,274 shares in the company, valued at $6,422,402.80. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph Devivo sold 320,215 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $2.44, for a total value of $781,324.60. Following the sale, the chief executive officer now owns 7,249,789 shares in the company, valued at $17,689,485.16. The trade was a 4.23% decrease in their position. The disclosure for this sale can be found here. 25.18% of the stock is owned by corporate insiders.

Butterfly Network Trading Up 2.8%

Shares of BFLY stock traded up $0.07 during trading on Friday, hitting $2.37. The company's stock had a trading volume of 2,317,345 shares, compared to its average volume of 2,921,162. The company has a market cap of $584.84 million, a PE ratio of -5.14 and a beta of 2.59. The business has a fifty day moving average of $2.39 and a 200-day moving average of $3.10. Butterfly Network, Inc. has a 52 week low of $0.82 and a 52 week high of $4.98.

Butterfly Network (NYSE:BFLY - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $21.23 million during the quarter, compared to analyst estimates of $21.16 million. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.25%. As a group, research analysts predict that Butterfly Network, Inc. will post -0.35 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on BFLY shares. William Blair started coverage on Butterfly Network in a research note on Monday, March 17th. They issued an "outperform" rating for the company. Lake Street Capital lowered their price objective on Butterfly Network from $5.00 to $4.00 and set a "buy" rating for the company in a research note on Monday, May 5th.

Butterfly Network 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.