Thompson Davis & CO. Inc. Invests $72,000 in Butterfly Network, Inc. $BFLY

Thompson Davis & CO. Inc. bought a new stake in Butterfly Network, Inc. (NYSE:BFLY) in the 2nd quarter, Holdings Channel.com reports. The fund bought 35,070 shares of the company’s stock, valued at approximately $72,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TradeLink Capital LLC purchased a new position in shares of Butterfly Network during the first quarter worth $25,000. Ashton Thomas Private Wealth LLC purchased a new position in Butterfly Network during the 2nd quarter valued at about $25,000. CTC Alternative Strategies Ltd. acquired a new position in Butterfly Network in the 1st quarter valued at about $29,000. Deutsche Bank AG acquired a new stake in shares of Butterfly Network during the first quarter worth about $31,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Butterfly Network by 707.2% in the second quarter. BNP Paribas Financial Markets now owns 16,258 shares of the company’s stock valued at $33,000 after purchasing an additional 14,244 shares during the period. Hedge funds and other institutional investors own 37.85% of the company’s stock.

Butterfly Network Stock Down 8.0%

Shares of Butterfly Network stock 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 company has a market capitalization of $525.41 million, a P/E ratio of -6.30 and a beta of 2.65. The company has a 50 day moving average of $2.13 and a 200 day moving average of $2.02.

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

Analyst Ratings Changes

BFLY has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, October 8th. Oppenheimer restated a “market perform” rating on shares of Butterfly Network in a research note on Friday, August 1st. Finally, Craig Hallum reiterated a “positive” rating and issued a $2.00 price objective on shares of Butterfly Network in a research note on Monday, August 4th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Butterfly Network presently has an average rating of “Hold” and a consensus target price of $3.00.

Insider Activity at Butterfly Network

In other news, Director Dawn Carfora sold 112,009 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $2.69, for a total transaction of $301,304.21. Following the completion of the transaction, the director directly owned 265,505 shares of the company’s stock, valued at approximately $714,208.45. This represents a 29.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan M. Rothberg sold 100,502 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $3.08, for a total value of $309,546.16. Following the sale, the director directly owned 1,140,007 shares in the company, valued at $3,511,221.56. This trade represents a 8.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 370,628 shares of company stock valued at $848,060 over the last quarter. 25.18% of the stock is owned by 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.