Marshall Wace LLP Purchases 248,201 Shares of Butterfly Network, Inc. (NYSE:BFLY)

Marshall Wace LLP increased its stake in Butterfly Network, Inc. (NYSE:BFLY) by 353.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 318,383 shares of the company’s stock after purchasing an additional 248,201 shares during the period. Marshall Wace LLP owned 0.15% of Butterfly Network worth $267,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its position in shares of Butterfly Network by 645.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 87,180 shares of the company’s stock valued at $94,000 after buying an additional 75,480 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc lifted 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 purchasing an additional 30,000 shares during the last quarter. XTX Topco Ltd bought a new position in Butterfly Network in the 2nd quarter valued at about $112,000. Levin Capital Strategies L.P. raised its holdings in Butterfly Network by 93.3% in 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. Finally, Renaissance Technologies LLC increased its holdings in shares of Butterfly Network by 46.5% during the second quarter. Renaissance Technologies LLC now owns 343,100 shares of the company’s stock worth $288,000 after purchasing an additional 108,944 shares during the period. Institutional investors own 37.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Larry Robbins bought 244,774 shares of the company’s stock in a transaction on Friday, August 30th. The shares were purchased at an average cost of $1.07 per share, for a total transaction of $261,908.18. Following the completion of the purchase, the director now directly owns 9,955,144 shares in the company, valued at $10,652,004.08. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Joseph Devivo purchased 104,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $0.95 per share, with a total value of $98,800.00. Following the acquisition, the chief executive officer now directly owns 7,009,221 shares of the company’s stock, valued at approximately $6,658,759.95. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry Robbins bought 244,774 shares of Butterfly Network stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average cost of $1.07 per share, for a total transaction of $261,908.18. Following the acquisition, the director now owns 9,955,144 shares in the company, valued at $10,652,004.08. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 27.28% of the stock is owned by corporate insiders.

Butterfly Network Stock Performance

Shares of NYSE:BFLY opened at $1.82 on Friday. The firm has a market cap of $386.88 million, a PE ratio of -3.57 and a beta of 2.18. The firm’s fifty day moving average is $1.44 and its 200-day moving average is $1.14. Butterfly Network, Inc. has a 52 week low of $0.67 and a 52 week high of $2.20.

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

Analyst Ratings Changes

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

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.