Butterfly Network, Inc. (NYSE:BFLY) Shares Purchased by Hartline Investment Corp

Hartline Investment Corp lifted its holdings in Butterfly Network, Inc. (NYSE:BFLY) by 87.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,500 shares of the company’s stock after acquiring an additional 10,000 shares during the period. Hartline Investment Corp’s holdings in Butterfly Network were worth $38,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cannon Global Investment Management LLC acquired a new stake in Butterfly Network in the third quarter valued at approximately $100,000. Procyon Advisors LLC increased its holdings in shares of Butterfly Network by 7.3% in the 3rd quarter. Procyon Advisors LLC now owns 81,882 shares of the company’s stock valued at $145,000 after acquiring an additional 5,600 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Butterfly Network by 25.6% during the third quarter. Quent Capital LLC now owns 98,000 shares of the company’s stock worth $173,000 after purchasing an additional 20,000 shares during the period. Point72 DIFC Ltd raised its stake in Butterfly Network by 1,271.4% during the second quarter. Point72 DIFC Ltd now owns 77,418 shares of the company’s stock worth $65,000 after acquiring an additional 71,773 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in Butterfly Network in the second quarter worth about $90,000. 37.85% of the stock is owned by hedge funds and other institutional investors.

Butterfly Network Stock Down 1.8 %

Butterfly Network stock opened at $2.68 on Wednesday. The firm has a 50-day moving average price of $1.89 and a two-hundred day moving average price of $1.31. The firm has a market capitalization of $571.00 million, a price-to-earnings ratio of -5.83 and a beta of 2.17. Butterfly Network, Inc. has a 52-week low of $0.67 and a 52-week high of $2.92.

Butterfly Network (NYSE:BFLY) last announced its earnings results on Friday, November 1st. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.25%. The firm had revenue of $20.56 million for the quarter, compared to the consensus estimate of $19.12 million. During the same quarter in the previous year, the business earned ($0.13) EPS. Research analysts expect that Butterfly Network, Inc. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

Separately, Lake Street Capital assumed coverage on Butterfly Network in a research report on Tuesday, September 10th. They set a “buy” rating and a $3.00 price objective for the company.

Insider Activity at Butterfly Network

In related news, Director Larry Robbins purchased 244,774 shares of Butterfly Network stock in a transaction dated Friday, August 30th. The stock was bought at an average cost of $1.07 per share, with a total value of $261,908.18. Following the purchase, the director now owns 9,955,144 shares in the company, valued at approximately $10,652,004.08. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 27.28% of the stock is currently owned by insiders.

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.