Butterfly Network, Inc. $BFLY Holdings Lifted by Acadian Asset Management LLC

Acadian Asset Management LLC grew its holdings in shares of Butterfly Network, Inc. (NYSE:BFLY) by 44.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,313,316 shares of the company’s stock after purchasing an additional 714,764 shares during the period. Acadian Asset Management LLC owned approximately 0.94% of Butterfly Network worth $4,624,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BFLY. TradeLink Capital LLC bought a new stake in shares of Butterfly Network during the 1st quarter worth $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in Butterfly Network in the 2nd quarter worth approximately $25,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Butterfly Network during the 1st quarter valued at $29,000. Deutsche Bank AG acquired a new position in shares of Butterfly Network in the first quarter worth $31,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Butterfly Network during the first quarter worth $44,000. 37.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Jonathan M. Rothberg sold 100,502 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $3.08, for a total value of $309,546.16. Following the sale, the director owned 1,140,007 shares of the company’s stock, valued at $3,511,221.56. The trade was a 8.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawn Carfora sold 112,009 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $2.69, for a total value of $301,304.21. Following the transaction, the director owned 265,505 shares of the company’s stock, valued at $714,208.45. This represents a 29.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 370,628 shares of company stock worth $848,060 over the last 90 days. Corporate insiders own 25.18% of the company’s stock.

Butterfly Network Stock Performance

NYSE BFLY opened at $2.08 on Friday. Butterfly Network, Inc. has a twelve month low of $1.32 and a twelve month high of $4.98. The stock has a market cap of $525.41 million, a PE ratio of -6.30 and a beta of 2.65. The firm has a 50-day simple moving average of $2.13 and a 200 day simple moving average of $2.02.

Butterfly Network (NYSE:BFLY) last posted its quarterly earnings results on Friday, October 31st. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. Butterfly Network had a negative return on equity of 37.80% and a negative net margin of 90.31%.The firm had revenue of $21.49 million during the quarter, compared to analysts’ expectations of $21.23 million. Butterfly Network has set its FY 2025 guidance at EPS. Research analysts forecast that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BFLY. Craig Hallum reiterated a “positive” rating and set a $2.00 price target on shares of Butterfly Network in a report on Monday, August 4th. Oppenheimer reiterated a “market perform” rating on shares of Butterfly Network in a report on Friday, August 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.00.

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.