Butterfly Network, Inc. $BFLY Shares Purchased by Blair William & Co. IL

Blair William & Co. IL increased its holdings in shares of Butterfly Network, Inc. (NYSE:BFLY) by 14.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 118,500 shares of the company’s stock after buying an additional 15,000 shares during the period. Blair William & Co. IL’s holdings in Butterfly Network were worth $237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lazari Capital Management Inc. grew its stake in shares of Butterfly Network by 53.1% in the second quarter. Lazari Capital Management Inc. now owns 28,661 shares of the company’s stock worth $57,000 after acquiring an additional 9,941 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Butterfly Network by 270.5% in the first quarter. Acadian Asset Management LLC now owns 1,598,552 shares of the company’s stock valued at $3,642,000 after purchasing an additional 1,167,055 shares during the period. CTC Alternative Strategies Ltd. acquired a new position in Butterfly Network during the 1st quarter worth $29,000. Goldman Sachs Group Inc. grew its stake in Butterfly Network by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 756,426 shares of the company’s stock worth $1,725,000 after purchasing an additional 29,958 shares in the last quarter. Finally, Bosun Asset Management LLC purchased a new stake in Butterfly Network during the 1st quarter worth about $255,000. Hedge funds and other institutional investors own 37.85% of the company’s stock.

Butterfly Network Price Performance

NYSE BFLY opened at $2.12 on Friday. The firm’s fifty day moving average price is $1.81 and its 200 day moving average price is $2.02. Butterfly Network, Inc. has a 12 month low of $1.32 and a 12 month high of $4.98. The company has a market capitalization of $532.68 million, a price-to-earnings ratio of -7.56 and a beta of 2.59.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings results on Friday, August 1st. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $23.38 million during the quarter, compared to analysts’ expectations of $23.91 million. Butterfly Network had a negative net margin of 71.79% and a negative return on equity of 30.53%. Butterfly Network has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Butterfly Network, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BFLY shares. 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, October 8th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Butterfly Network in a report on Friday, August 1st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.00.

Insider Transactions at Butterfly Network

In related news, insider Steve Cashman sold 142,590 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $1.50, for a total transaction of $213,885.00. Following the transaction, the insider owned 2,181,884 shares in the company, valued at $3,272,826. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders sold 161,235 shares of company stock worth $241,731. Company insiders own 25.18% of the company’s stock.

About Butterfly Network

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.