Oppenheimer & Co. Inc. Acquires 46,630 Shares of Butterfly Network, Inc. (NYSE:BFLY)

Oppenheimer & Co. Inc. raised its stake in shares of Butterfly Network, Inc. (NYSE:BFLY) by 22.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 258,920 shares of the company’s stock after purchasing an additional 46,630 shares during the quarter. Oppenheimer & Co. Inc. owned approximately 0.12% of Butterfly Network worth $458,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BFLY. Cetera Advisors LLC purchased a new position in Butterfly Network in the first quarter worth about $1,250,000. Marshall Wace LLP increased its stake in shares of 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 purchasing an additional 248,201 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in Butterfly Network by 1,045.0% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 256,974 shares of the company’s stock valued at $216,000 after acquiring an additional 234,530 shares during the period. Vanguard Group Inc. lifted its holdings in Butterfly Network by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 7,885,238 shares of the company’s stock worth $8,516,000 after purchasing an additional 218,720 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Butterfly Network during the second quarter worth $112,000. 37.85% of the stock is currently owned by hedge funds and other institutional investors.

Butterfly Network Trading Down 0.7 %

Shares of NYSE:BFLY opened at $3.30 on Friday. The business’s fifty day simple moving average is $2.03 and its 200-day simple moving average is $1.40. Butterfly Network, Inc. has a 12-month low of $0.67 and a 12-month high of $3.55. The company has a market capitalization of $702.10 million, a PE ratio of -7.16 and a beta of 2.17.

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

Insider Buying and Selling at Butterfly Network

In related news, Director Larry Robbins bought 244,774 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was acquired at an average price of $1.07 per share, with a total value of $261,908.18. Following the completion of the purchase, the director now directly owns 9,955,144 shares of the company’s stock, valued at approximately $10,652,004.08. This trade represents a 2.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 27.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.