Barclays PLC Grows Stock Holdings in Butterfly Network, Inc. (NYSE:BFLY)

Barclays PLC lifted its stake in shares of Butterfly Network, Inc. (NYSE:BFLY) by 27,790.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,101 shares of the company’s stock after acquiring an additional 25,011 shares during the quarter. Barclays PLC’s holdings in Butterfly Network were worth $44,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Procyon Advisors LLC increased its holdings in Butterfly Network by 7.3% during the 3rd 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 period. Hartline Investment Corp raised its holdings in shares of Butterfly Network by 87.0% in the third quarter. Hartline Investment Corp now owns 21,500 shares of the company’s stock valued at $38,000 after acquiring an additional 10,000 shares in the last quarter. Quent Capital LLC grew its holdings in Butterfly Network by 25.6% during the 3rd quarter. Quent Capital LLC now owns 98,000 shares of the company’s stock worth $173,000 after acquiring an additional 20,000 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in Butterfly Network during the 3rd quarter valued at about $44,000. Finally, Verition Fund Management LLC bought a new stake in shares of Butterfly Network in the 3rd quarter valued at about $57,000. Institutional investors own 37.85% of the company’s stock.

Insiders Place Their Bets

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

Butterfly Network Stock Performance

NYSE BFLY opened at $3.90 on Friday. The company has a market cap of $829.87 million, a PE ratio of -8.47 and a beta of 2.45. The firm’s 50 day moving average price is $3.47 and its 200-day moving average price is $2.21. Butterfly Network, Inc. has a 52-week low of $0.67 and a 52-week high of $4.45.

Butterfly Network (NYSE:BFLY) last announced its earnings results on Friday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The business had revenue of $20.56 million for the quarter, compared to analysts’ expectations of $19.12 million. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.25%. During the same quarter last year, the firm earned ($0.13) EPS. On average, analysts forecast that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal 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.