Butterfly Network, Inc. (NYSE:BFLY) Shares Bought by Hartline Investment Corp

Hartline Investment Corp grew its holdings in Butterfly Network, Inc. (NYSE:BFLY) by 87.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 21,500 shares of the company’s stock after buying an additional 10,000 shares during the period. Hartline Investment Corp’s holdings in Butterfly Network were worth $38,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 DIFC Ltd lifted its stake in shares of Butterfly Network by 1,271.4% in the 2nd quarter. Point72 DIFC Ltd now owns 77,418 shares of the company’s stock worth $65,000 after acquiring an additional 71,773 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Butterfly Network in the 2nd quarter valued at approximately $90,000. Oppenheimer & Co. Inc. raised its holdings in Butterfly Network by 645.1% during the first quarter. Oppenheimer & Co. Inc. now owns 87,180 shares of the company’s stock worth $94,000 after purchasing an additional 75,480 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in shares of Butterfly Network during the 3rd quarter worth $100,000. Finally, Texas Capital Bank Wealth Management Services Inc grew its stake in Butterfly Network by 42.9% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock valued at $108,000 after acquiring an additional 30,000 shares during the last quarter. 37.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital initiated coverage on shares of Butterfly Network in a research note on Tuesday, September 10th. They set a “buy” rating and a $3.00 price objective for the company.

Insiders Place Their Bets

In related news, Director Larry Robbins acquired 244,774 shares of the stock in a transaction dated Friday, August 30th. The stock was bought at an average cost of $1.07 per share, with a total value of $261,908.18. Following the purchase, the director now directly owns 9,955,144 shares of the company’s stock, valued at approximately $10,652,004.08. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 27.28% of the stock is currently owned by insiders.

Butterfly Network Stock Down 1.8 %

Shares of NYSE:BFLY opened at $2.68 on Wednesday. The business has a fifty day simple moving average of $1.89 and a 200-day simple moving average of $1.31. Butterfly Network, Inc. has a 52 week low of $0.67 and a 52 week high of $2.92. The company has a market cap of $571.00 million, a P/E ratio of -5.83 and a beta of 2.17.

Butterfly Network (NYSE:BFLY) last posted its quarterly earnings data on Friday, November 1st. The company reported ($0.08) 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 company had revenue of $20.56 million during the quarter, compared to the consensus estimate of $19.12 million. During the same quarter in the prior year, the company posted ($0.13) EPS. Sell-side analysts expect that Butterfly Network, Inc. will post -0.34 earnings per share for the current fiscal year.

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.