Butterfly Network, Inc. (NYSE:BFLY) Shares Bought by Blair William & Co. IL

Blair William & Co. IL raised its position in Butterfly Network, Inc. (NYSE:BFLY) by 40.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 103,500 shares of the company’s stock after acquiring an additional 30,000 shares during the period. Blair William & Co. IL’s holdings in Butterfly Network were worth $236,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Butterfly Network by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 7,437,176 shares of the company’s stock worth $23,204,000 after acquiring an additional 109,842 shares during the period. ARK Investment Management LLC lifted its stake in shares of Butterfly Network by 16.8% in the first quarter. ARK Investment Management LLC now owns 7,023,980 shares of the company’s stock valued at $16,015,000 after purchasing an additional 1,012,460 shares during the period. First Light Asset Management LLC acquired a new stake in shares of Butterfly Network in the fourth quarter valued at about $12,463,000. Geode Capital Management LLC lifted its stake 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 purchasing an additional 30,828 shares during the period. Finally, Capital World Investors acquired a new stake in shares of Butterfly Network in the fourth quarter valued at about $4,239,000. Institutional investors and hedge funds own 37.85% of the company’s stock.

Butterfly Network Trading Up 1.8%

NYSE:BFLY opened at $1.39 on Wednesday. The firm has a 50-day moving average price of $1.94 and a two-hundred day moving average price of $2.57. Butterfly Network, Inc. has a twelve month low of $0.90 and a twelve month high of $4.98. The company has a market capitalization of $348.66 million, a P/E ratio of -4.95 and a beta of 2.45.

Butterfly Network (NYSE:BFLY) last posted its earnings results on Friday, August 1st. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. Butterfly Network had a negative net margin of 71.79% and a negative return on equity of 30.53%. The firm had revenue of $23.38 million during the quarter, compared to the consensus estimate of $23.91 million. On average, equities research analysts predict that Butterfly Network, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on BFLY shares. Lake Street Capital reduced their price objective on shares of Butterfly Network from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Craig Hallum reiterated a “positive” rating and issued a $2.00 price objective on shares of Butterfly Network in a research note on Monday, August 4th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Butterfly Network in a research note on Friday, August 1st.

Butterfly Network Company 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.