Butterfly Network, Inc. (NYSE:BFLY) Director Larry Robbins Purchases 244,774 Shares

Butterfly Network, Inc. (NYSE:BFLY) Director Larry Robbins bought 244,774 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was acquired at an average cost of $1.07 per share, with a total value of $261,908.18. Following the transaction, the director now owns 9,955,144 shares in the company, valued at approximately $10,652,004.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Butterfly Network Stock Performance

Shares of NYSE:BFLY opened at $1.54 on Thursday. Butterfly Network, Inc. has a fifty-two week low of $0.67 and a fifty-two week high of $1.93. The business has a 50-day simple moving average of $1.04 and a two-hundred day simple moving average of $1.01. The firm has a market cap of $324.49 million, a price-to-earnings ratio of -2.66 and a beta of 2.14.

Butterfly Network (NYSE:BFLY) last issued its earnings results on Thursday, August 1st. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. Butterfly Network had a negative return on equity of 43.77% and a negative net margin of 153.29%. The business had revenue of $21.49 million during the quarter, compared to analyst estimates of $20.06 million. During the same quarter in the previous year, the firm earned ($0.14) EPS. As a group, research analysts predict that Butterfly Network, Inc. will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Butterfly Network

A number of hedge funds have recently bought and sold shares of BFLY. GSA Capital Partners LLP increased its position in shares of Butterfly Network by 3.0% during the 1st quarter. GSA Capital Partners LLP now owns 559,008 shares of the company’s stock valued at $604,000 after purchasing an additional 16,496 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc increased its position in shares of Butterfly Network by 40.0% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 70,000 shares of the company’s stock valued at $76,000 after purchasing an additional 20,000 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Butterfly Network during the 4th quarter valued at approximately $28,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Butterfly Network by 15.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 421,296 shares of the company’s stock valued at $455,000 after acquiring an additional 55,892 shares during the period. Finally, Levin Capital Strategies L.P. grew its stake in shares of Butterfly Network by 93.3% during the 1st quarter. Levin Capital Strategies L.P. now owns 145,000 shares of the company’s stock valued at $157,000 after acquiring an additional 70,000 shares during the period. Hedge funds and other institutional investors own 37.85% of the company’s stock.

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.