Cetera Investment Advisers Purchases 52,600 Shares of Butterfly Network, Inc. (NYSE:BFLY)

Cetera Investment Advisers lifted its position in shares of Butterfly Network, Inc. (NYSE:BFLYGet Rating) by 5.7% in the second quarter, HoldingsChannel reports. The fund owned 977,520 shares of the company’s stock after buying an additional 52,600 shares during the period. Cetera Investment Advisers’ holdings in Butterfly Network were worth $3,001,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. TownSquare Capital LLC bought a new stake in Butterfly Network in the second quarter valued at about $32,000. Oppenheimer & Co. Inc. bought a new stake in Butterfly Network in the first quarter valued at about $65,000. Cambridge Investment Research Advisors Inc. bought a new stake in Butterfly Network in the second quarter valued at about $43,000. Daiwa Securities Group Inc. increased its holdings in Butterfly Network by 45.7% in the first quarter. Daiwa Securities Group Inc. now owns 17,387 shares of the company’s stock valued at $83,000 after purchasing an additional 5,457 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in Butterfly Network by 28.5% in the first quarter. Chicago Partners Investment Group LLC now owns 18,912 shares of the company’s stock valued at $57,000 after purchasing an additional 4,200 shares during the last quarter. Institutional investors own 49.29% of the company’s stock.

Butterfly Network Price Performance

NYSE:BFLY opened at $3.09 on Thursday. Butterfly Network, Inc. has a 1 year low of $2.31 and a 1 year high of $8.72. The stock has a 50-day moving average price of $4.45 and a two-hundred day moving average price of $4.72.

Butterfly Network (NYSE:BFLYGet Rating) last posted its earnings results on Thursday, November 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). Butterfly Network had a negative net margin of 204.70% and a negative return on equity of 37.78%. The business had revenue of $19.62 million during the quarter, compared to analyst estimates of $21.40 million. Research analysts expect that Butterfly Network, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, B. Riley began coverage on Butterfly Network in a report on Tuesday, October 4th. They issued a “buy” rating and a $9.50 price objective for the company.

Insider Buying and Selling at Butterfly Network

In other Butterfly Network news, insider Darius Shahida sold 20,139 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $5.49, for a total value of $110,563.11. Following the completion of the transaction, the insider now directly owns 656,793 shares of the company’s stock, valued at $3,605,793.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 26,408 shares of company stock valued at $142,539. Company insiders own 42.11% of the company’s stock.

Butterfly Network Company Profile

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Butterfly Network, Inc, a digital health company, 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+, a point-of-care ultrasound imaging device that connects with a smartphone, tablet, and hospital computer system; and Butterfly Blueprint, a system-wide ultrasound platform with Compass software that integrates into a healthcare system's clinical and administrative infrastructure.

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Institutional Ownership by Quarter for Butterfly Network (NYSE:BFLY)

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