Butterfly Network, Inc. (NYSE:BFLY) Shares Sold by Jane Street Group LLC

Jane Street Group LLC decreased its holdings in shares of Butterfly Network, Inc. (NYSE:BFLY) by 55.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,856 shares of the company’s stock after selling 278,353 shares during the quarter. Jane Street Group LLC owned about 0.10% of Butterfly Network worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of BFLY. Procyon Advisors LLC lifted its stake in Butterfly Network by 7.3% during the third quarter. Procyon Advisors LLC now owns 81,882 shares of the company’s stock worth $145,000 after purchasing an additional 5,600 shares during the last quarter. Hartline Investment Corp raised its stake in shares of Butterfly Network by 87.0% in the 3rd quarter. Hartline Investment Corp now owns 21,500 shares of the company’s stock worth $38,000 after buying an additional 10,000 shares in the last quarter. Quent Capital LLC grew its stake in shares of Butterfly Network by 25.6% in the 3rd 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 last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Butterfly Network during the 3rd quarter valued at $44,000. Finally, Verition Fund Management LLC acquired a new stake in Butterfly Network during the 3rd quarter worth about $57,000. Hedge funds and other institutional investors own 37.85% of the company’s stock.

Analyst Upgrades and Downgrades

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

Butterfly Network Stock Performance

Shares of BFLY stock opened at $4.05 on Wednesday. The company has a market capitalization of $862.90 million, a price-to-earnings ratio of -8.80 and a beta of 2.45. The stock’s 50 day simple moving average is $3.10 and its 200 day simple moving average is $1.97. Butterfly Network, Inc. has a twelve month low of $0.67 and a twelve month high of $4.45.

Butterfly Network (NYSE:BFLY) last posted its quarterly earnings data on Friday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $20.56 million during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned ($0.13) EPS. On average, analysts forecast that Butterfly Network, Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity at Butterfly Network

In related news, CFO Heather C. Getz sold 30,136 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $3.06, for a total transaction of $92,216.16. Following the transaction, the chief financial officer now directly owns 2,669,333 shares in the company, valued at $8,168,158.98. The trade was a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steve Cashman sold 164,079 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $3.06, for a total value of $502,081.74. Following the completion of the sale, the insider now owns 1,835,921 shares of the company’s stock, valued at $5,617,918.26. This represents a 8.20 % decrease in their position. The disclosure for this sale can be found here. 27.28% of the stock is owned by corporate insiders.

Butterfly Network 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.