Cetera Investment Advisers Sells 25,466 Shares of Butterfly Network, Inc. (NYSE:BFLY)

Cetera Investment Advisers reduced its holdings in Butterfly Network, Inc. (NYSE:BFLY) by 39.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,710 shares of the company’s stock after selling 25,466 shares during the quarter. Cetera Investment Advisers’ holdings in Butterfly Network were worth $124,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BFLY. First Light Asset Management LLC bought a new stake in shares of Butterfly Network in the 4th quarter worth approximately $12,463,000. Capital World Investors bought a new stake in shares of Butterfly Network during the fourth quarter valued at approximately $4,239,000. Raymond James Financial Inc. bought a new stake in shares of Butterfly Network during the fourth quarter valued at approximately $3,154,000. Tudor Investment Corp ET AL bought a new stake in shares of Butterfly Network during the fourth quarter valued at approximately $2,761,000. Finally, Marshall Wace LLP bought a new stake in shares of Butterfly Network during the fourth quarter valued at approximately $1,155,000. 37.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Butterfly Network

In other news, CEO Joseph Devivo sold 320,215 shares of the business’s stock in a transaction on Friday, April 25th. The stock was sold at an average price of $2.44, for a total value of $781,324.60. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Heather C. Getz sold 65,456 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $2.20, for a total value of $144,003.20. Following the completion of the transaction, the executive vice president now owns 2,919,274 shares of the company’s stock, valued at $6,422,402.80. This represents a 2.19% decrease in their position. The disclosure for this sale can be found here. 25.18% of the stock is owned by company insiders.

Butterfly Network Stock Down 4.4%

NYSE BFLY opened at $2.30 on Tuesday. Butterfly Network, Inc. has a twelve month low of $0.82 and a twelve month high of $4.98. The firm has a market capitalization of $567.53 million, a PE ratio of -4.99 and a beta of 2.59. The stock’s 50 day moving average is $2.31 and its 200 day moving average is $3.10.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $21.23 million during the quarter, compared to analysts’ expectations of $21.16 million. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.25%. On average, research analysts anticipate that Butterfly Network, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BFLY has been the topic of several research reports. William Blair initiated coverage on Butterfly Network in a research report on Monday, March 17th. They set an “outperform” rating on the stock. Lake Street Capital dropped their price target 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.