Barclays PLC Boosts Stake in Butterfly Network, Inc. (NYSE:BFLY)

Barclays PLC raised its position in Butterfly Network, Inc. (NYSE:BFLY) by 27,790.0% during the third quarter, Holdings Channel reports. The firm owned 25,101 shares of the company’s stock after buying an additional 25,011 shares during the quarter. Barclays PLC’s holdings in Butterfly Network were worth $44,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Procyon Advisors LLC raised its holdings in shares of Butterfly Network by 7.3% in the 3rd quarter. Procyon Advisors LLC now owns 81,882 shares of the company’s stock valued at $145,000 after buying an additional 5,600 shares during the period. Hartline Investment Corp grew its position in Butterfly Network by 87.0% in the 3rd quarter. Hartline Investment Corp now owns 21,500 shares of the company’s stock valued at $38,000 after acquiring an additional 10,000 shares in the last quarter. Quent Capital LLC increased its stake in Butterfly Network by 25.6% during the third quarter. Quent Capital LLC now owns 98,000 shares of the company’s stock worth $173,000 after purchasing an additional 20,000 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in shares of Butterfly Network during the third quarter worth about $44,000. Finally, Verition Fund Management LLC purchased a new position in shares of Butterfly Network in the third quarter valued at approximately $57,000. Hedge funds and other institutional investors own 37.85% of the company’s stock.

Insider Transactions at Butterfly Network

In related news, insider Steve Cashman sold 164,079 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $3.06, for a total transaction of $502,081.74. Following the completion of the sale, the insider now directly owns 1,835,921 shares of the company’s stock, valued at $5,617,918.26. This trade represents a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Heather C. Getz sold 30,136 shares of Butterfly Network stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $3.06, for a total transaction of $92,216.16. Following the completion of the sale, the chief financial officer now directly owns 2,669,333 shares in the company, valued at approximately $8,168,158.98. The trade was a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 27.28% of the company’s stock.

Butterfly Network Stock Down 0.7 %

Shares of BFLY opened at $4.01 on Friday. The company has a market cap of $854.38 million, a P/E ratio of -8.72 and a beta of 2.45. Butterfly Network, Inc. has a fifty-two week low of $0.67 and a fifty-two week high of $4.45. The firm’s 50 day moving average price is $3.19 and its 200 day moving average price is $2.00.

Butterfly Network (NYSE:BFLY) last issued its quarterly earnings results on Friday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $20.56 million during the quarter, compared to the consensus estimate of $19.12 million. Butterfly Network had a negative net margin of 129.25% and a negative return on equity of 42.68%. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. Research analysts forecast that Butterfly Network, Inc. will post -0.34 earnings per share for the current year.

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.