XTX Topco Ltd Raises Stock Holdings in Butterfly Network, Inc. $BFLY

XTX Topco Ltd lifted its holdings in Butterfly Network, Inc. (NYSE:BFLY) by 216.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 257,316 shares of the company’s stock after buying an additional 175,963 shares during the period. XTX Topco Ltd owned about 0.10% of Butterfly Network worth $515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in 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 valued at $46,000 after acquiring an additional 5,010 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Butterfly Network by 45.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 27,811 shares of the company’s stock worth $56,000 after acquiring an additional 8,657 shares in the last quarter. Lazari Capital Management Inc. lifted its holdings in shares of Butterfly Network by 53.1% during the 2nd quarter. Lazari Capital Management Inc. now owns 28,661 shares of the company’s stock valued at $57,000 after purchasing an additional 9,941 shares during the last quarter. Levin Capital Strategies L.P. raised its position in shares of Butterfly Network by 16.7% in the 2nd quarter. Levin Capital Strategies L.P. now owns 70,000 shares of the company’s stock valued at $140,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Butterfly Network during the second quarter worth about $25,000. 37.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BFLY has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Butterfly Network from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, October 8th. Three research 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.00.

Butterfly Network Trading Up 3.4%

Shares of NYSE BFLY opened at $3.07 on Friday. The business’s fifty day simple moving average is $2.42 and its 200-day simple moving average is $2.07. The stock has a market cap of $775.48 million, a P/E ratio of -9.30 and a beta of 2.34. Butterfly Network, Inc. has a 12-month low of $1.32 and a 12-month high of $4.98.

Butterfly Network (NYSE:BFLY) last released its earnings results on Friday, October 31st. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $21.49 million for the quarter, compared to analyst estimates of $21.23 million. On average, equities analysts forecast that Butterfly Network, Inc. will post -0.35 EPS for the current fiscal year.

Insider Transactions at Butterfly Network

In other Butterfly Network news, Director Dawn Carfora sold 112,009 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $2.69, for a total value of $301,304.21. Following the completion of the transaction, the director owned 265,505 shares in the company, valued at $714,208.45. This represents a 29.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jonathan M. Rothberg sold 1,110,579 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $3.15, for a total value of $3,498,323.85. Following the transaction, the director directly owned 769,814 shares in the company, valued at approximately $2,424,914.10. The trade was a 59.06% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 2,574,643 shares of company stock worth $8,113,867. Company insiders own 25.18% of the company’s 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.