AE Wealth Management LLC Makes New $154,000 Investment in Butterfly Network, Inc. (NYSE:BFLY)

AE Wealth Management LLC acquired a new stake in Butterfly Network, Inc. (NYSE:BFLY – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 32,829 shares of the company’s stock, valued at approximately $154,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BFLY. Madison Asset Management LLC acquired a new stake in Butterfly Network in the 2nd quarter valued at $31,000. Kestra Private Wealth Services LLC bought a new position in shares of Butterfly Network during the second quarter valued at $31,000. TownSquare Capital LLC acquired a new stake in shares of Butterfly Network in the 2nd quarter valued at $32,000. Creative Planning acquired a new stake in shares of Butterfly Network in the 2nd quarter valued at $33,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Butterfly Network in the 2nd quarter worth about $43,000. 49.54% of the stock is owned by institutional investors.

Butterfly Network Stock Performance

Shares of NYSE:BFLY opened at $2.54 on Friday. The business has a fifty day moving average of $2.74 and a 200-day moving average of $4.42. Butterfly Network, Inc. has a twelve month low of $2.17 and a twelve month high of $8.72. The firm has a market cap of $509.44 million, a PE ratio of -3.39 and a beta of 1.78.

Butterfly Network (NYSE:BFLY – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03). Butterfly Network had a negative net margin of 204.70% and a negative return on equity of 37.78%. The company had revenue of $19.62 million during the quarter, compared to analyst estimates of $21.40 million. On average, analysts anticipate that Butterfly Network, Inc. will post -0.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BFLY shares. B. Riley started coverage on shares of Butterfly Network in a report on Tuesday, October 4th. They set a “buy” rating and a $9.50 price target for the company. Oppenheimer started coverage on Butterfly Network in a report on Monday, November 28th. They issued an “outperform” rating and a $4.50 target price on the stock.

Insiders Place Their Bets

In other news, insider Darius Shahida sold 26,885 shares of the company’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $2.36, for a total transaction of $63,448.60. Following the transaction, the insider now owns 629,908 shares of the company’s stock, valued at $1,486,582.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 28.36% of the company’s stock.

Butterfly Network Company Profile

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Butterfly Network, Inc, a digital health company, 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+, a point-of-care ultrasound imaging device that connects with a smartphone, tablet, and hospital computer system; and Butterfly Blueprint, a system-wide ultrasound platform with Compass software that integrates into a healthcare system's clinical and administrative infrastructure.