Marshall Wace LLP Invests $1.16 Million in Butterfly Network, Inc. (NYSE:BFLY)

Marshall Wace LLP purchased a new stake in shares of Butterfly Network, Inc. (NYSE:BFLY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 370,282 shares of the company's stock, valued at approximately $1,155,000. Marshall Wace LLP owned 0.17% of Butterfly Network as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sound View Wealth Advisors Group LLC grew its stake in Butterfly Network by 18.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 16,000 shares of the company's stock valued at $50,000 after acquiring an additional 2,500 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of Butterfly Network by 23.9% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 23,850 shares of the company's stock valued at $74,000 after purchasing an additional 4,606 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Butterfly Network during the fourth quarter worth about $34,000. LPL Financial LLC raised its position in shares of Butterfly Network by 8.2% during the 4th quarter. LPL Financial LLC now owns 148,029 shares of the company's stock worth $462,000 after purchasing an additional 11,224 shares during the last quarter. Finally, Verdence Capital Advisors LLC acquired a new stake in Butterfly Network in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 37.85% of the company's stock.

Wall Street Analyst Weigh In

Separately, William Blair initiated coverage on shares of Butterfly Network in a research report on Monday, March 17th. They issued an "outperform" rating for the company.

Butterfly Network Stock Down 0.9 %

Butterfly Network stock traded down $0.02 during mid-day trading on Friday, reaching $2.32. 4,855,712 shares of the company's stock were exchanged, compared to its average volume of 2,888,537. The company has a fifty day moving average of $2.56 and a 200-day moving average of $3.06. The company has a market cap of $563.58 million, a P/E ratio of -5.04 and a beta of 2.60. Butterfly Network, Inc. has a twelve month low of $0.82 and a twelve month high of $4.98.

Butterfly Network (NYSE:BFLY - Get Free Report) last issued 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. Butterfly Network had a negative net margin of 129.25% and a negative return on equity of 42.68%. The company had revenue of $21.23 million during 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 fiscal year.

Insider Activity

In other news, CEO Joseph Devivo sold 320,215 shares of the firm's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $2.44, for a total value of $781,324.60. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 27.28% of the company's stock.

About Butterfly Network

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.