884,925 Shares in Butterfly Network, Inc. (NYSE:BFLY) Bought by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL acquired a new stake in shares of Butterfly Network, Inc. (NYSE:BFLY - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 884,925 shares of the company's stock, valued at approximately $2,761,000. Tudor Investment Corp ET AL owned 0.42% of Butterfly Network at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Aquatic Capital Management LLC acquired a new position in Butterfly Network in the fourth quarter valued at approximately $104,000. Oxford Asset Management LLP acquired a new stake in Butterfly Network during the fourth quarter valued at $79,000. Kovitz Investment Group Partners LLC increased its holdings in Butterfly Network by 37.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 34,250 shares of the company's stock valued at $107,000 after buying an additional 9,250 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Butterfly Network in the fourth quarter worth about $45,000. Finally, Alpine Global Management LLC acquired a new position in shares of Butterfly Network in the fourth quarter worth about $95,000. 37.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Butterfly Network

In other Butterfly Network news, CEO Joseph Devivo sold 320,215 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 7,249,789 shares of the company's stock, valued at $17,689,485.16. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 27.28% of the stock is currently owned by insiders.

Butterfly Network Stock Performance

Shares of BFLY stock traded down $0.13 on Monday, reaching $2.21. 3,125,200 shares of the company were exchanged, compared to its average volume of 2,880,757. Butterfly Network, Inc. has a 1 year low of $0.82 and a 1 year high of $4.98. The business has a 50-day moving average price of $2.53 and a 200 day moving average price of $3.08. The company has a market cap of $535.65 million, a price-to-earnings ratio of -4.79 and a beta of 2.59.

Butterfly Network (NYSE:BFLY - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. The company had revenue of $21.23 million during 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%. As a group, equities analysts anticipate that Butterfly Network, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BFLY shares. Lake Street Capital cut their price target on Butterfly Network from $5.00 to $4.00 and set a "buy" rating for the company in a research note on Monday. William Blair started coverage on Butterfly Network in a research report on Monday, March 17th. They set an "outperform" rating on the stock.

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.