Thompson Davis & CO. Inc. Acquires Shares of 35,070 Butterfly Network, Inc. $BFLY

Thompson Davis & CO. Inc. acquired a new stake in Butterfly Network, Inc. (NYSE:BFLY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 35,070 shares of the company’s stock, valued at approximately $72,000.

Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC lifted its holdings in Butterfly Network by 270.5% during the 1st quarter. Acadian Asset Management LLC now owns 1,598,552 shares of the company’s stock worth $3,642,000 after buying an additional 1,167,055 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Butterfly Network during the first quarter worth approximately $708,000. Vanguard Group Inc. boosted its holdings in Butterfly Network by 15.6% in the first quarter. Vanguard Group Inc. now owns 8,598,823 shares of the company’s stock valued at $19,605,000 after purchasing an additional 1,161,647 shares in the last quarter. ARK Investment Management LLC boosted its holdings in Butterfly Network by 16.8% in the first quarter. ARK Investment Management LLC now owns 7,023,980 shares of the company’s stock valued at $16,015,000 after purchasing an additional 1,012,460 shares in the last quarter. Finally, Perkins Capital Management Inc. purchased a new position in Butterfly Network in the first quarter valued at approximately $627,000. 37.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BFLY. Weiss Ratings restated a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, October 8th. Craig Hallum reiterated a “positive” rating and set a $2.00 price target on shares of Butterfly Network in a research note on Monday, August 4th. Finally, Oppenheimer restated a “market perform” rating on shares of Butterfly Network in a research note on Friday, August 1st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Butterfly Network currently has a consensus rating of “Hold” and a consensus target price of $3.00.

Butterfly Network Stock Down 8.0%

BFLY opened at $2.08 on Friday. Butterfly Network, Inc. has a 52 week low of $1.32 and a 52 week high of $4.98. The business has a 50 day moving average price of $2.13 and a two-hundred day moving average price of $2.02. The company has a market cap of $525.41 million, a PE ratio of -6.30 and a beta of 2.65.

Butterfly Network (NYSE:BFLY) last issued its earnings results on Friday, October 31st. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. Butterfly Network had a negative net margin of 90.31% and a negative return on equity of 37.80%. The business had revenue of $21.49 million for the quarter, compared to the consensus estimate of $21.23 million. Butterfly Network has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Butterfly Network, Inc. will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Butterfly Network news, Director Jonathan M. Rothberg sold 100,502 shares of Butterfly Network stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $3.08, for a total transaction of $309,546.16. Following the completion of the transaction, the director owned 1,140,007 shares in the company, valued at approximately $3,511,221.56. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steve Cashman sold 142,590 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $1.50, for a total transaction of $213,885.00. Following the completion of the sale, the insider owned 2,181,884 shares in the company, valued at $3,272,826. This represents a 6.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 370,628 shares of company stock worth $848,060. 25.18% of the stock is owned by corporate insiders.

About Butterfly Network

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.