Butterfly Network, Inc. (NYSE:BFLY) Shares Acquired by Two Sigma Investments LP

Two Sigma Investments LP grew its holdings in Butterfly Network, Inc. (NYSE:BFLY - Free Report) by 392.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 637,474 shares of the company's stock after purchasing an additional 507,923 shares during the period. Two Sigma Investments LP owned approximately 0.30% of Butterfly Network worth $1,989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of BFLY. First Light Asset Management LLC acquired a new position in Butterfly Network during the 4th quarter worth about $12,463,000. Capital World Investors purchased a new position in shares of Butterfly Network in the 4th quarter valued at about $4,239,000. Raymond James Financial Inc. purchased a new position in shares of Butterfly Network in the 4th quarter valued at about $3,154,000. Tudor Investment Corp ET AL purchased a new position in shares of Butterfly Network in the 4th quarter valued at about $2,761,000. Finally, Parkman Healthcare Partners LLC purchased a new position in shares of Butterfly Network in the 4th quarter valued at about $2,340,000. Institutional investors and hedge funds own 37.85% of the company's stock.

Insider Buying and Selling

In other Butterfly Network news, CEO Joseph Devivo sold 320,215 shares of Butterfly Network stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $2.44, for a total value of $781,324.60. Following the transaction, the chief executive officer now directly owns 7,249,789 shares in the company, valued at approximately $17,689,485.16. This trade represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the executive vice president now owns 2,919,274 shares in the company, valued at $6,422,402.80. This trade represents a 2.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on BFLY shares. Lake Street Capital dropped their price objective on Butterfly Network from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Monday, May 5th. William Blair started coverage on Butterfly Network in a report on Monday, March 17th. They issued an "outperform" rating on the stock.

Butterfly Network Stock Down 1.5%

NYSE:BFLY traded down $0.04 during mid-day trading on Thursday, reaching $2.36. 2,578,376 shares of the stock were exchanged, compared to its average volume of 3,016,525. The company has a 50 day simple moving average of $2.31 and a 200-day simple moving average of $3.09. The stock has a market capitalization of $582.37 million, a P/E ratio of -5.12 and a beta of 2.54. Butterfly Network, Inc. has a 1 year low of $0.82 and a 1 year high of $4.98.

Butterfly Network (NYSE:BFLY - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $21.23 million for the quarter, compared to the consensus estimate of $21.16 million. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.25%. As a group, research 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.