Butterfly Network, Inc. (NYSE:BFLY) Stock Position Increased by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC grew its position in Butterfly Network, Inc. (NYSE:BFLY - Free Report) by 39.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,280,632 shares of the company's stock after acquiring an additional 359,732 shares during the period. Schonfeld Strategic Advisors LLC owned about 0.60% of Butterfly Network worth $3,996,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Butterfly Network by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 7,437,176 shares of the company's stock valued at $23,204,000 after acquiring an additional 109,842 shares in the last quarter. First Light Asset Management LLC purchased a new stake in shares of Butterfly Network during the fourth quarter worth $12,463,000. Geode Capital Management LLC raised its position in shares of Butterfly Network by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,752,551 shares of the company's stock valued at $5,470,000 after buying an additional 30,828 shares during the last quarter. Capital World Investors purchased a new position in shares of Butterfly Network in the fourth quarter worth about $4,239,000. Finally, Raymond James Financial Inc. acquired a new position in Butterfly Network during the fourth quarter worth about $3,154,000. 37.85% of the stock is currently owned by institutional investors and hedge funds.

Butterfly Network Trading Up 0.1 %

BFLY stock traded up $0.00 during midday trading on Wednesday, hitting $2.17. 2,128,955 shares of the company's stock were exchanged, compared to its average volume of 2,879,272. Butterfly Network, Inc. has a 1-year low of $0.82 and a 1-year high of $4.98. The stock has a market capitalization of $527.87 million, a PE ratio of -4.72 and a beta of 2.59. The business has a 50-day simple moving average of $2.50 and a two-hundred day simple moving average of $3.07.

Butterfly Network (NYSE:BFLY - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $21.16 million. As a group, research analysts expect that Butterfly Network, Inc. will post -0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BFLY shares. Lake Street Capital decreased their target price on shares of Butterfly Network from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Monday. William Blair assumed coverage on Butterfly Network in a report on Monday, March 17th. They issued an "outperform" rating for the company.

Insiders Place Their Bets

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. Also, EVP Heather C. Getz sold 65,456 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $2.20, for a total transaction of $144,003.20. Following the transaction, the executive vice president now directly owns 2,919,274 shares in the company, valued at approximately $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. 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.