Thompson Davis & CO. Inc. Takes Position in Butterfly Network, Inc. $BFLY

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TradeLink Capital LLC acquired a new stake in Butterfly Network in the 1st quarter worth about $25,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Butterfly Network in the second quarter valued at approximately $25,000. CTC Alternative Strategies Ltd. purchased a new position in shares of Butterfly Network in the first quarter valued at approximately $29,000. Deutsche Bank AG acquired a new stake in shares of Butterfly Network in the first quarter worth approximately $31,000. Finally, BNP Paribas Financial Markets increased its position in shares of Butterfly Network by 707.2% during the second quarter. BNP Paribas Financial Markets now owns 16,258 shares of the company’s stock worth $33,000 after purchasing an additional 14,244 shares in the last quarter. 37.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on BFLY shares. Weiss Ratings restated a “sell (d-)” rating on shares of Butterfly Network in a report on Wednesday, October 8th. Oppenheimer reiterated a “market perform” rating on shares of Butterfly Network in a research report on Friday, August 1st. Finally, Craig Hallum reissued a “positive” rating and issued a $2.00 price target on shares of Butterfly Network in a research note on Monday, August 4th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.00.

Insider Activity at Butterfly Network

In other Butterfly Network news, Director Jonathan M. Rothberg sold 100,502 shares of Butterfly Network stock in a transaction on 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 owned 1,140,007 shares in the company, valued at $3,511,221.56. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steve Cashman sold 142,590 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $1.50, for a total value of $213,885.00. Following the transaction, the insider owned 2,181,884 shares of the company’s stock, valued at approximately $3,272,826. This represents a 6.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 370,628 shares of company stock worth $848,060. Insiders own 25.18% of the company’s stock.

Butterfly Network Trading Down 8.0%

Shares of BFLY opened at $2.08 on Friday. Butterfly Network, Inc. has a 12-month low of $1.32 and a 12-month high of $4.98. The firm has a market capitalization of $525.41 million, a P/E ratio of -6.30 and a beta of 2.65. The firm has a 50-day moving average price of $2.13 and a 200 day moving average price of $2.02.

Butterfly Network (NYSE:BFLY) last posted 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 company had revenue of $21.49 million for the quarter, compared to analyst estimates of $21.23 million. Butterfly Network has set its FY 2025 guidance at EPS. Equities research analysts predict that Butterfly Network, Inc. will post -0.35 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.