Bridgeway Capital Management LLC Has $540,000 Stock Position in Butterfly Network, Inc. (NYSE:BFLY)

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

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Butterfly Network by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 7,437,176 shares of the company's stock worth $23,204,000 after purchasing an additional 109,842 shares in the last quarter. First Light Asset Management LLC purchased a new stake in Butterfly Network in the 4th quarter worth approximately $12,463,000. Geode Capital Management LLC boosted its stake in shares of Butterfly Network by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,752,551 shares of the company's stock valued at $5,470,000 after buying an additional 30,828 shares during the period. Capital World Investors purchased a new position in shares of Butterfly Network during the 4th quarter valued at $4,239,000. Finally, Schonfeld Strategic Advisors LLC grew its holdings in shares of Butterfly Network by 39.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,280,632 shares of the company's stock valued at $3,996,000 after acquiring an additional 359,732 shares in the last quarter. 37.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Butterfly Network

In other news, EVP Heather C. Getz sold 65,456 shares of Butterfly Network stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $2.20, for a total value of $144,003.20. Following the transaction, the executive vice president now owns 2,919,274 shares of the company's stock, 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 can be accessed through this hyperlink. Also, CEO Joseph Devivo sold 320,215 shares of the business's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $2.44, for a total transaction of $781,324.60. Following the completion of the sale, the chief executive officer now owns 7,249,789 shares of the company's stock, valued at $17,689,485.16. The trade was a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.28% of the stock is currently owned by corporate insiders.

Butterfly Network Stock Down 1.8%

BFLY stock opened at $2.23 on Monday. The firm has a 50 day moving average of $2.44 and a two-hundred day moving average of $3.09. Butterfly Network, Inc. has a 12 month low of $0.82 and a 12 month high of $4.98. The company has a market capitalization of $551.45 million, a price-to-earnings ratio of -4.85 and a beta of 2.59.

Butterfly Network (NYSE:BFLY - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. Butterfly Network had a negative net margin of 129.25% and a negative return on equity of 42.68%. The firm had revenue of $21.23 million during the quarter, compared to analysts' expectations of $21.16 million. On average, research analysts expect that Butterfly Network, Inc. will post -0.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on BFLY. Lake Street Capital cut their price objective on Butterfly Network from $5.00 to $4.00 and set a "buy" rating for the company in a report on Monday, May 5th. William Blair started coverage on Butterfly Network in a report on Monday, March 17th. They set an "outperform" rating for the company.

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.

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