AQR Capital Management LLC Has $33,000 Stock Holdings in Butterfly Network, Inc. (NYSE:BFLY)

AQR Capital Management LLC lowered its stake in shares of Butterfly Network, Inc. (NYSE:BFLY) by 50.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,988 shares of the company’s stock after selling 39,233 shares during the period. AQR Capital Management LLC’s holdings in Butterfly Network were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in BFLY. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Butterfly Network by 1,045.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 256,974 shares of the company’s stock worth $216,000 after buying an additional 234,530 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Butterfly Network in the 2nd quarter worth about $90,000. Point72 DIFC Ltd increased its holdings 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 buying an additional 71,773 shares during the last quarter. Marshall Wace LLP raised its position in Butterfly Network by 353.7% in the second quarter. Marshall Wace LLP now owns 318,383 shares of the company’s stock worth $267,000 after acquiring an additional 248,201 shares during the period. Finally, XTX Topco Ltd purchased a new position in Butterfly Network in the second quarter valued at approximately $112,000. 37.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CEO Joseph Devivo bought 104,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $0.95 per share, with a total value of $98,800.00. Following the completion of the purchase, the chief executive officer now owns 7,009,221 shares in the company, valued at approximately $6,658,759.95. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Butterfly Network news, Director Larry Robbins bought 244,774 shares of Butterfly Network stock in a transaction on Friday, August 30th. The stock was acquired at an average cost of $1.07 per share, with a total value of $261,908.18. Following the completion of the acquisition, the director now owns 9,955,144 shares in the company, valued at approximately $10,652,004.08. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Devivo bought 104,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $0.95 per share, for a total transaction of $98,800.00. Following the completion of the transaction, the chief executive officer now directly owns 7,009,221 shares of the company’s stock, valued at $6,658,759.95. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 27.28% of the company’s stock.

Butterfly Network Stock Up 4.1 %

Butterfly Network stock opened at $1.76 on Friday. Butterfly Network, Inc. has a 52 week low of $0.67 and a 52 week high of $2.20. The stock has a market cap of $370.85 million, a price-to-earnings ratio of -3.03 and a beta of 2.18. The business has a 50-day simple moving average of $1.51 and a 200 day simple moving average of $1.16.

Butterfly Network (NYSE:BFLY) last released its earnings results on Thursday, August 1st. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $21.49 million during the quarter, compared to the consensus estimate of $20.06 million. Butterfly Network had a negative return on equity of 43.77% and a negative net margin of 153.29%. During the same quarter in the previous year, the company posted ($0.14) EPS. On average, research analysts anticipate that Butterfly Network, Inc. will post -0.37 earnings per share for the current year.

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.