Calamos Advisors LLC Has $827,000 Stock Position in Butterfly Network, Inc. (NYSE:BFLY)

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

Several other hedge funds have also recently bought and sold shares of BFLY. Total Wealth Planning & Management Inc. acquired a new position in Butterfly Network during the 1st quarter valued at about $25,000. Ground Swell Capital LLC acquired a new stake in shares of Butterfly Network during the fourth quarter worth approximately $32,000. Steel Grove Capital Advisors LLC acquired a new stake in Butterfly Network in the first quarter valued at approximately $34,000. Teacher Retirement System of Texas acquired a new stake in Butterfly Network in the first quarter valued at approximately $44,000. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of Butterfly Network in the fourth quarter worth $45,000. 37.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. William Blair assumed coverage on shares of Butterfly Network in a research note on Monday, March 17th. They issued an "outperform" rating for the company. Lake Street Capital reduced their price objective on shares of Butterfly Network from $5.00 to $4.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, Craig Hallum assumed coverage on shares of Butterfly Network in a research note on Tuesday, July 1st. They issued a "buy" rating and a $3.00 price objective for the company.

Butterfly Network Trading Up 0.8%

NYSE:BFLY traded up $0.02 during trading hours on Wednesday, hitting $1.95. 1,275,199 shares of the company traded hands, compared to its average volume of 3,217,852. The stock has a market capitalization of $480.98 million, a price-to-earnings ratio of -6.71 and a beta of 2.46. Butterfly Network, Inc. has a twelve month low of $0.90 and a twelve month high of $4.98. The firm has a 50-day moving average of $2.24 and a 200 day moving average of $2.90.

Butterfly Network (NYSE:BFLY - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The firm had revenue of $21.23 million during the quarter, compared to analysts' expectations of $21.16 million. Butterfly Network had a negative net margin of 75.56% and a negative return on equity of 29.97%. Equities research analysts predict that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Butterfly Network

In related news, CEO Joseph Devivo sold 320,215 shares of the company's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $2.44, for a total transaction of $781,324.60. Following the completion of the transaction, the chief executive officer directly owned 7,249,789 shares in the company, valued at $17,689,485.16. This represents a 4.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 directly owned 2,919,274 shares in the company, valued at $6,422,402.80. This trade represents a 2.19% 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 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.