Raymond James & Associates Cuts Position in Butterfly Network, Inc. (NYSE:BFLY)

Raymond James & Associates reduced its holdings in shares of Butterfly Network, Inc. (NYSE:BFLY) by 18.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 760,301 shares of the company’s stock after selling 177,748 shares during the quarter. Raymond James & Associates owned 0.37% of Butterfly Network worth $821,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Capital Investment Advisors LLC lifted its holdings in shares of Butterfly Network by 24.1% during the 4th quarter. Capital Investment Advisors LLC now owns 51,515 shares of the company’s stock valued at $56,000 after acquiring an additional 10,000 shares in the last quarter. Pathstone Family Office LLC lifted its stake in shares of Butterfly Network by 162.9% during the third quarter. Pathstone Family Office LLC now owns 52,833 shares of the company’s stock worth $62,000 after purchasing an additional 32,733 shares in the last quarter. Barclays PLC boosted its position in shares of Butterfly Network by 20.9% in the third quarter. Barclays PLC now owns 64,386 shares of the company’s stock worth $77,000 after buying an additional 11,112 shares during the period. Levin Capital Strategies L.P. grew its stake in shares of Butterfly Network by 200.0% in the third quarter. Levin Capital Strategies L.P. now owns 75,000 shares of the company’s stock valued at $88,000 after buying an additional 50,000 shares in the last quarter. Finally, Green Alpha Advisors LLC grew its stake in shares of Butterfly Network by 203.3% in the fourth quarter. Green Alpha Advisors LLC now owns 162,448 shares of the company’s stock valued at $175,000 after buying an additional 108,892 shares in the last quarter. 37.85% of the stock is currently owned by hedge funds and other institutional investors.

Butterfly Network Stock Performance

Butterfly Network stock opened at $0.72 on Tuesday. The firm has a market capitalization of $149.86 million, a PE ratio of -1.11 and a beta of 2.04. Butterfly Network, Inc. has a one year low of $0.72 and a one year high of $2.71. The stock’s 50 day moving average price is $1.05 and its 200 day moving average price is $1.02.

Butterfly Network (NYSE:BFLY) last posted its earnings results on Wednesday, February 28th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). The firm had revenue of $16.52 million for the quarter, compared to analyst estimates of $15.98 million. Butterfly Network had a negative return on equity of 50.87% and a negative net margin of 202.88%. On average, analysts forecast that Butterfly Network, Inc. will post -0.45 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.