Kapitalo Investimentos Ltda Invests $50,000 in Butterfly Network, Inc. (NYSE:BFLY)

Kapitalo Investimentos Ltda purchased a new position in shares of Butterfly Network, Inc. (NYSE:BFLY) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,902 shares of the company’s stock, valued at approximately $50,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Butterfly Network by 15.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 31,024 shares of the company’s stock worth $97,000 after purchasing an additional 4,212 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Butterfly Network by 23.9% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 23,850 shares of the company’s stock worth $74,000 after purchasing an additional 4,606 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Butterfly Network by 33.0% during the first quarter. Bank of New York Mellon Corp now owns 20,177 shares of the company’s stock worth $46,000 after purchasing an additional 5,010 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Butterfly Network by 37.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 34,250 shares of the company’s stock worth $107,000 after purchasing an additional 9,250 shares during the last quarter. Finally, Ground Swell Capital LLC bought a new stake in shares of Butterfly Network during the fourth quarter worth about $32,000. 37.85% of the stock is currently owned by institutional investors.

Insider Transactions at Butterfly Network

In other Butterfly Network news, EVP Heather C. Getz sold 65,456 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $2.20, for a total value of $144,003.20. Following the transaction, the executive vice president directly owned 2,919,274 shares of the company’s stock, valued at approximately $6,422,402.80. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 25.18% of the company’s stock.

Butterfly Network Price Performance

Butterfly Network stock opened at $1.97 on Friday. The stock’s 50 day moving average is $2.14 and its 200 day moving average is $2.75. The firm has a market cap of $485.92 million, a P/E ratio of -6.78 and a beta of 2.46. Butterfly Network, Inc. has a one year low of $0.90 and a one year high of $4.98.

Butterfly Network (NYSE:BFLY) last posted its quarterly earnings data on Friday, May 2nd. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $21.23 million for the quarter, compared to analyst estimates of $21.16 million. Butterfly Network had a negative return on equity of 29.97% and a negative net margin of 75.56%. Equities analysts anticipate that Butterfly Network, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BFLY has been the topic of several research reports. Craig Hallum began coverage on Butterfly Network in a report on Tuesday, July 1st. They set a “buy” rating and a $3.00 price target on the stock. Lake Street Capital cut their price objective on Butterfly Network from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Monday, May 5th.

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.