Price T Rowe Associates Inc. MD Has $142,000 Stock Holdings in Butterfly Network, Inc. (NYSE:BFLY)

Price T Rowe Associates Inc. MD decreased its position in Butterfly Network, Inc. (NYSE:BFLY) by 45.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,300 shares of the company’s stock after selling 38,100 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Butterfly Network were worth $142,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Barclays PLC increased its holdings in Butterfly Network by 27,790.0% in the 3rd quarter. Barclays PLC now owns 25,101 shares of the company’s stock valued at $44,000 after buying an additional 25,011 shares during the period. SG Americas Securities LLC bought a new stake in Butterfly Network during the 4th quarter worth approximately $46,000. Kingswood Wealth Advisors LLC bought a new position in shares of Butterfly Network during the 4th quarter worth approximately $70,000. Baader Bank Aktiengesellschaft bought a new position in shares of Butterfly Network during the 4th quarter worth approximately $287,000. Finally, Calamos Advisors LLC bought a new position in shares of Butterfly Network in the fourth quarter valued at $525,000. Institutional investors own 37.85% of the company’s stock.

Butterfly Network Price Performance

Butterfly Network stock opened at $2.37 on Friday. The stock’s 50 day moving average is $2.39 and its 200 day moving average is $3.10. The firm has a market cap of $584.84 million, a P/E ratio of -5.14 and a beta of 2.59. Butterfly Network, Inc. has a one year low of $0.82 and a one year high of $4.98.

Butterfly Network (NYSE:BFLY) last issued its earnings results on Friday, May 2nd. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.25%. The company had revenue of $21.23 million for the quarter, compared to analyst estimates of $21.16 million. Equities analysts anticipate 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 stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $2.44, for a total transaction of $781,324.60. Following the transaction, the chief executive officer now directly owns 7,249,789 shares in the company, valued at approximately $17,689,485.16. This represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Heather C. Getz sold 65,456 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $2.20, for a total value of $144,003.20. Following the transaction, the executive vice president now owns 2,919,274 shares in the company, valued at $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 25.18% of the company’s stock.

Wall Street Analysts Forecast Growth

BFLY has been the subject of several research reports. William Blair started coverage on Butterfly Network in a report on Monday, March 17th. They set an “outperform” rating for the company. Lake Street Capital decreased their target price on Butterfly Network from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday, May 5th.

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.