500,000 Shares in Butterfly Network, Inc. $BFLY Acquired by Maven Securities LTD

Key Points

• Maven Securities LTD has acquired 500,000 shares of Butterfly Network, Inc. (NYSE:BFLY) for approximately $1.14 million, representing a new stake for the firm as of the first quarter.
• Institutional investors now own 37.85% of Butterfly Network's stock, with notable increases in holdings by both Vanguard Group Inc. and ARK Investment Management LLC during the same period.
• Analyst ratings for Butterfly Network include a "Moderate Buy" consensus, with a current target price of $3.00, despite recent share price fluctuations and a quarterly loss reported by the company.

Maven Securities LTD acquired a new stake in Butterfly Network, Inc. (NYSE:BFLY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 500,000 shares of the company's stock, valued at approximately $1,140,000. Maven Securities LTD owned 0.20% of Butterfly Network at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its position in Butterfly Network by 61.5% in the first quarter. American Century Companies Inc. now owns 172,830 shares of the company's stock valued at $394,000 after purchasing an additional 65,819 shares during the period. Lord Abbett & CO. LLC purchased a new position in Butterfly Network in the first quarter valued at about $3,225,000. Russell Investments Group Ltd. grew its stake in shares of Butterfly Network by 99.0% during the first quarter. Russell Investments Group Ltd. now owns 695,008 shares of the company's stock valued at $1,585,000 after acquiring an additional 345,672 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Butterfly Network during the first quarter valued at about $85,000. Finally, Swiss National Bank acquired a new stake in shares of Butterfly Network during the first quarter valued at about $618,000. 37.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BFLY. Lake Street Capital lowered their target price 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. Oppenheimer restated a "market perform" rating on shares of Butterfly Network in a research note on Friday, August 1st. Finally, Craig Hallum restated a "positive" rating and set a $2.00 target price on shares of Butterfly Network in a research note on Monday, August 4th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $3.00.

Butterfly Network Trading Up 9.7%

NYSE BFLY traded up $0.1350 during trading hours on Friday, reaching $1.5250. The company's stock had a trading volume of 4,315,141 shares, compared to its average volume of 3,623,142. The business has a 50-day simple moving average of $1.78 and a 200 day simple moving average of $2.44. Butterfly Network, Inc. has a 52 week low of $0.9001 and a 52 week high of $4.98. The stock has a market cap of $383.90 million, a PE ratio of -5.45 and a beta of 2.45.

Butterfly Network (NYSE:BFLY - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The company had revenue of $23.38 million for the quarter, compared to analysts' expectations of $23.91 million. Butterfly Network had a negative return on equity of 30.53% and a negative net margin of 71.79%. Butterfly Network has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Butterfly Network, Inc. will post -0.35 EPS for the current year.

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.