Calamos Advisors LLC Purchases 194,174 Shares of Butterfly Network, Inc. (NYSE:BFLY)

Calamos Advisors LLC boosted its holdings in Butterfly Network, Inc. (NYSE:BFLY - Free Report) by 115.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 362,571 shares of the company's stock after purchasing an additional 194,174 shares during the quarter. Calamos Advisors LLC owned 0.15% of Butterfly Network worth $827,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. bought a new stake in shares of Butterfly Network during the 1st quarter valued at approximately $708,000. Teacher Retirement System of Texas acquired a new stake in Butterfly Network during the 1st quarter worth approximately $44,000. Total Wealth Planning & Management Inc. acquired a new stake in Butterfly Network during the 1st quarter worth approximately $25,000. Oppenheimer & Co. Inc. boosted its position in Butterfly Network by 4.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 309,591 shares of the company's stock worth $706,000 after buying an additional 14,465 shares during the period. Finally, Palumbo Wealth Management LLC boosted its position in Butterfly Network by 15.3% during the 1st quarter. Palumbo Wealth Management LLC now owns 84,618 shares of the company's stock worth $193,000 after buying an additional 11,248 shares during the period. 37.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Butterfly Network news, EVP Heather C. Getz sold 65,456 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $2.20, for a total transaction of $144,003.20. Following the completion of the sale, the executive vice president owned 2,919,274 shares in the company, valued at approximately $6,422,402.80. The trade was a 2.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph Devivo sold 320,215 shares of the company'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 owned 7,249,789 shares of the company's stock, valued at approximately $17,689,485.16. The trade was a 4.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 25.18% of the company's stock.

Butterfly Network Price Performance

Shares of Butterfly Network stock traded down $0.08 during trading on Thursday, reaching $1.87. 2,367,044 shares of the company traded hands, compared to its average volume of 3,227,287. Butterfly Network, Inc. has a 1-year low of $0.90 and a 1-year high of $4.98. The company has a 50 day moving average price of $2.23 and a 200-day moving average price of $2.89. The firm has a market capitalization of $461.94 million, a PE ratio of -6.44 and a beta of 2.46.

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 analysts' consensus estimates of ($0.09) by $0.03. Butterfly Network had a negative net margin of 75.56% and a negative return on equity of 29.97%. The company had revenue of $21.23 million for the quarter, compared to the consensus estimate of $21.16 million. Equities research analysts expect that Butterfly Network, Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. William Blair assumed coverage on shares of Butterfly Network in a research report on Monday, March 17th. They issued an "outperform" rating on the stock. Craig Hallum assumed coverage on shares of Butterfly Network in a research report on Tuesday, July 1st. They issued a "buy" rating and a $3.00 price target on the stock. Finally, Lake Street Capital dropped their price target on shares of Butterfly Network from $5.00 to $4.00 and set a "buy" rating on the stock in a research report 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.