Butterfly Network, Inc. (NYSE:BFLY) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in Butterfly Network, Inc. (NYSE:BFLY) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 955,331 shares of the company’s stock after purchasing an additional 35,800 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.45% of Butterfly Network worth $1,691,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Marshall Wace LLP boosted 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 valued at $267,000 after purchasing an additional 248,201 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its holdings in Butterfly Network by 1,045.0% in 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 in the last quarter. XTX Topco Ltd bought a new position in Butterfly Network during the 2nd quarter valued at $112,000. Renaissance Technologies LLC increased its holdings in Butterfly Network by 46.5% in the second quarter. Renaissance Technologies LLC now owns 343,100 shares of the company’s stock valued at $288,000 after buying an additional 108,944 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Butterfly Network during the second quarter worth $90,000. Institutional investors and hedge funds own 37.85% of the company’s stock.

Butterfly Network Stock Performance

Butterfly Network stock opened at $3.60 on Tuesday. The firm has a market capitalization of $767.02 million, a P/E ratio of -7.83 and a beta of 2.46. The company has a 50-day simple moving average of $2.57 and a 200-day simple moving average of $1.69. Butterfly Network, Inc. has a one year low of $0.67 and a one year high of $3.78.

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 analysts’ consensus estimates of ($0.09) by $0.01. Butterfly Network had a negative net margin of 129.25% and a negative return on equity of 42.68%. The firm had revenue of $20.56 million during the quarter, compared to analyst estimates of $19.12 million. During the same quarter in the prior year, the firm posted ($0.13) EPS. As a group, sell-side analysts forecast that Butterfly Network, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.