Swiss National Bank Acquires Shares of 401,200 Butterfly Network, Inc. $BFLY

Key Points

• Swiss National Bank acquired 401,200 Butterfly Network shares during the first quarter, valued at approximately $1.62 million and representing about 0.16% of the company.
• Butterfly Network’s latest quarter beat expectations, with an adjusted loss of $0.01 per share versus the $0.04 consensus and revenue of $32.61 million versus $29.16 million expected. However, the company remains unprofitable and issued third-quarter revenue guidance with a midpoint slightly below analyst estimates.
• Analysts maintain a consensus “Hold” rating with a $5.56 price target, while insiders sold 4.84 million shares worth approximately $31.65 million over the past three months, primarily to cover tax obligations from equity vesting.

Swiss National Bank bought a new position in Butterfly Network, Inc. (NYSE:BFLY - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 401,200 shares of the company's stock, valued at approximately $1,621,000. Swiss National Bank owned approximately 0.16% of Butterfly Network at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. bought a new stake in shares of Butterfly Network during the third quarter valued at approximately $25,000. BNP Paribas Financial Markets boosted its holdings in shares of Butterfly Network by 707.2% in the second quarter. BNP Paribas Financial Markets now owns 16,258 shares of the company's stock valued at $33,000 after purchasing an additional 14,244 shares during the period. ExodusPoint Capital Management LP bought a new position in Butterfly Network in the fourth quarter worth approximately $38,000. Sfmg LLC bought a new position in Butterfly Network in the fourth quarter worth approximately $39,000. Finally, Sanctuary Advisors LLC purchased a new position in Butterfly Network during the 4th quarter worth $40,000. 37.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Butterfly Network in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $5.56.

Butterfly Network News Summary

Here are the key news stories impacting Butterfly Network this week:

• Positive Sentiment: Butterfly reported second-quarter adjusted loss of $0.01 per share, narrower than the $0.03 analyst consensus and improved from a $0.06 loss a year earlier. Revenue rose to $32.61 million, exceeding estimates of $29.16 million. Butterfly Network Reports Q2 Loss, Beats Revenue Estimates
• Positive Sentiment: The company’s quarter was reportedly supported by its partnership with Midjourney, helping fuel investor interest in Butterfly’s ultrasound technology, cloud software and artificial-intelligence strategy. Butterfly Network Stock Jumps After Q2 Beat Fueled by Midjourney Partnership
• Neutral Sentiment: Butterfly guided to full-year 2026 revenue of $119 million to $123 million, compared with consensus of $119 million. Third-quarter revenue guidance is $26 million to $30 million, with a midpoint slightly below the $28.8 million analyst estimate. Butterfly Network Reports Second Quarter 2026 Financial Results
• Negative Sentiment: Despite the improvement, Butterfly remains unprofitable, with a reported negative net margin of 73.63% and negative return on equity of 34.41%. The modest third-quarter outlook may be disappointing for investors expecting faster growth after the recent share-price advance. Butterfly Network Q2 2026 Earnings Call Transcript

Insider Buying and Selling at Butterfly Network

In related news, EVP John N. Doherty sold 57,136 shares of Butterfly Network stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $6.56, for a total transaction of $374,812.16. Following the transaction, the executive vice president directly owned 1,397,276 shares of the company's stock, valued at $9,166,130.56. This trade represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Joseph Devivo sold 211,798 shares of the company's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $6.56, for a total value of $1,389,394.88. Following the sale, the chief executive officer owned 7,672,046 shares of the company's stock, valued at approximately $50,328,621.76. This represents a 2.69% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 4,840,207 shares of company stock valued at $31,652,184. 21.99% of the stock is owned by corporate insiders.

Butterfly Network Price Performance

Shares of Butterfly Network stock opened at $7.08 on Friday. Butterfly Network, Inc. has a 1 year low of $1.32 and a 1 year high of $9.69. The firm's 50-day moving average is $6.66 and its two-hundred day moving average is $5.00. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -24.43 and a beta of 2.05.

Butterfly Network (NYSE:BFLY - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. Butterfly Network had a negative net margin of 66.74% and a negative return on equity of 33.66%. The business had revenue of $32.61 million during the quarter, compared to analyst estimates of $29.16 million. On average, equities analysts expect that Butterfly Network, Inc. will post -0.18 earnings per share for the current year.

Butterfly Network Company Profile

Butterfly Network, Inc is a medical technology company focused on democratizing access to diagnostic imaging through its proprietary ultrasound-on-chip platform. The company's flagship device, the Butterfly iQ, leverages semiconductor technology to deliver whole-body ultrasound imaging in a handheld form factor. This portable system connects to a compatible smart device, enabling point-of-care scanning across a variety of clinical settings.

Beyond its hardware offering, Butterfly Network provides a cloud-based software suite that supports image storage, analysis and remote collaboration.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.