New York State Joint Retirement Fund Reduces Holdings in Butterfly Network, Inc. (NYSE:BFLY)


The New York State Common Retirement Fund reduced its holdings in Butterfly Network, Inc. (NYSE: BFLY – Get Rating) by 31.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor held 81,731 shares of the company after selling 36,974 shares during the period. The New York State Common Retirement Fund’s holdings in Butterfly Network were worth $389,000 when it last filed with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently changed their holdings in the company. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Butterfly Network by 0.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 359,670 shares in the company worth $2,431,000 after buying an additional 2,190 shares last quarter. Arizona State Retirement System increased its position in Butterfly Network by 8.8% during the fourth quarter. Arizona State Retirement System now owns 29,308 shares of the company worth $196,000 after buying 2,363 additional shares in the last quarter. Principal Financial Group Inc. increased its position in Butterfly Network by 7.8% during the fourth quarter. Principal Financial Group Inc. now owns 41,286 shares of the company worth $276,000 after purchasing an additional 2,994 shares in the last quarter. ProShare Advisors LLC increased its position in Butterfly Network by 16.6% during the fourth quarter. ProShare Advisors LLC now owns 27,278 shares of the company worth $182,000 after purchasing 3,874 additional shares in the last quarter. Finally, Masso Torrence Wealth Management Inc. acquired a new stake in Butterfly Network during the fourth quarter at a value of approximately $30,000. 61.04% of the shares are held by hedge funds and other institutional investors.

Butterfly Network Price Performance

BFLY shares opened at $5.58 on Friday. Butterfly Network, Inc. has a 1 year minimum of $2.31 and a 1 year maximum of $13.56. The stock has a market capitalization of $1.11 billion, a PE ratio of -10.15 and a beta of 2.41. The company has a 50-day simple moving average of $5.28 and a two-hundred-day simple moving average of $3.93.

Butterfly Network (NYSE:BFLY – Get Rating) last announced its quarterly results on Wednesday, August 3. The company reported ($0.18) earnings per share for the quarter, beating analyst consensus estimates of ($0.27) by $0.09. Butterfly Network had a negative net margin of 159.44% and a negative return on equity of 25.69%. The company had revenue of $19.22 million in the quarter. In the same quarter of the previous year, the company had earned a profit per share of ($0.19). As a group, sell-side analysts expect Butterfly Network, Inc. to post earnings per share of -0.89 for the current fiscal year.

Insider Buying and Selling at Butterfly Network

In other Butterfly Network news, insider Darius Shahida sold 16,069 shares of Butterfly Network in a trade dated Tuesday, June 21. The shares were sold at an average price of $3.18, for a total transaction of $51,099.42. Following the completion of the sale, the insider now directly owns 676,932 shares of the company, valued at $2,152,643.76. The sale was disclosed in a document filed with the SEC, which is available via this hyperlink. Insiders of the company own 42.11% of the shares of the company.

A Wall Street analyst gives his opinion

Several equity research analysts have recently released reports on the stock. Cowen cut his price target on shares of Butterfly Network from $12.00 to $7.00 in a Wednesday, May 11 research report. Cowen cut his price target on shares of Butterfly Network from $12.00 to $7.00 in a Wednesday, May 11 research report.

Butterfly Network Profile

(Get a rating)

Butterfly Network, Inc, a digital health company, develops, manufactures and markets ultrasound imaging solutions in the United States and internationally. It offers Butterfly iQ, a portable, single-probe whole-body ultrasound system; Butterfly iQ+, a point-of-care ultrasound imaging device that connects to a smartphone, tablet and hospital computer system; and Butterfly Blueprint, a system-wide ultrasound platform with Compass software that integrates with the clinical and administrative infrastructure of a healthcare system.

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Institutional ownership by quarter for Butterfly Network (NYSE:BFLY)



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