Butterfly Network, Inc. $BFLY Shares Purchased by DNB Asset Management AS

DNB Asset Management AS grew its stake in shares of Butterfly Network, Inc. (NYSE:BFLY) by 145.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,715 shares of the company’s stock after acquiring an additional 166,749 shares during the period. DNB Asset Management AS owned about 0.11% of Butterfly Network worth $563,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. TradeLink Capital LLC bought a new position in shares of Butterfly Network during the first quarter worth about $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in Butterfly Network during the second quarter valued at approximately $25,000. CTC Alternative Strategies Ltd. bought a new position in Butterfly Network during the 1st quarter worth approximately $29,000. Deutsche Bank AG acquired a new position in shares of Butterfly Network in the 1st quarter worth approximately $31,000. Finally, Bank of New York Mellon Corp grew its position in shares of Butterfly Network by 33.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,177 shares of the company’s stock worth $46,000 after acquiring an additional 5,010 shares in the last quarter. Institutional investors and hedge funds own 37.85% of the company’s stock.

Insider Transactions at Butterfly Network

In other news, Director Dawn Carfora sold 112,009 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $714,208.45. The trade was a 29.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan M. Rothberg sold 100,502 shares of Butterfly Network stock in a transaction on Monday, November 3rd. The shares were 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. The trade was a 8.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 370,628 shares of company stock worth $848,060. Company insiders own 25.18% of the company’s stock.

Butterfly Network Stock Performance

Shares of BFLY opened at $3.37 on Wednesday. The firm has a fifty day moving average of $2.28 and a 200-day moving average of $2.03. The company has a market cap of $851.77 million, a price-to-earnings ratio of -10.22 and a beta of 2.65. Butterfly Network, Inc. has a 1 year low of $1.32 and a 1 year high of $4.98.

Butterfly Network (NYSE:BFLY) last issued its quarterly earnings data 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. The firm 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. Analysts predict that Butterfly Network, Inc. will post -0.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, October 8th. Oppenheimer reissued a “market perform” rating on shares of Butterfly Network in a report on Friday, August 1st. Wall Street Zen raised shares of Butterfly Network from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Craig Hallum reaffirmed a “positive” rating and set a $2.00 price objective on shares of Butterfly Network in a research report on Monday, August 4th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.00.

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.