Marshall Wace LLP Makes New $1.16 Million Investment 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 fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 370,282 shares of the company's stock, valued at approximately $1,155,000. Marshall Wace LLP owned 0.17% of Butterfly Network at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BFLY. Y Intercept Hong Kong Ltd purchased a new stake in shares of Butterfly Network in the fourth quarter valued at $34,000. Verdence Capital Advisors LLC purchased a new stake in Butterfly Network in the 4th quarter worth about $41,000. Barclays PLC boosted its position in Butterfly Network by 27,790.0% during the 3rd quarter. Barclays PLC now owns 25,101 shares of the company's stock worth $44,000 after acquiring an additional 25,011 shares during the period. HBK Sorce Advisory LLC purchased a new position in Butterfly Network during the 4th quarter valued at about $45,000. Finally, SG Americas Securities LLC acquired a new position in shares of Butterfly Network in the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 37.85% of the company's stock.

Insider Buying and Selling

In other news, CEO Joseph Devivo sold 320,215 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was 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 now directly owns 7,249,789 shares in the company, valued at $17,689,485.16. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.28% of the stock is owned by insiders.

Butterfly Network Stock Down 6.2 %

Shares of BFLY traded down $0.15 during midday trading on Monday, reaching $2.19. 666,430 shares of the stock were exchanged, compared to its average volume of 2,871,241. The firm has a 50 day simple moving average of $2.56 and a 200-day simple moving average of $3.08. Butterfly Network, Inc. has a 12-month low of $0.82 and a 12-month high of $4.98. The company has a market cap of $530.79 million, a price-to-earnings ratio of -4.77 and a beta of 2.59.

Butterfly Network (NYSE:BFLY - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $21.23 million for the quarter, compared to analyst estimates of $21.16 million. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.25%. Research analysts expect that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, William Blair began coverage on shares of Butterfly Network in a research report on Monday, March 17th. They set an "outperform" rating on the stock.

Butterfly Network Company 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.