XTX Topco Ltd Increases Stock Position in Butterfly Network, Inc. $BFLY

XTX Topco Ltd boosted its holdings in Butterfly Network, Inc. (NYSE:BFLY) by 216.3% in the 2nd quarter, Holdings Channel reports. The firm owned 257,316 shares of the company’s stock after purchasing an additional 175,963 shares during the period. XTX Topco Ltd’s holdings in Butterfly Network were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of BFLY. Ameritas Investment Partners Inc. acquired a new position in Butterfly Network in the second quarter valued at $39,000. Prudential Financial Inc. purchased a new position in shares of Butterfly Network during the second quarter worth about $40,000. Rhumbline Advisers acquired a new position in Butterfly Network in the 2nd quarter valued at about $475,000. Legal & General Group Plc increased its position in Butterfly Network by 136.5% in the 2nd quarter. Legal & General Group Plc now owns 206,985 shares of the company’s stock valued at $414,000 after acquiring an additional 119,455 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Butterfly Network by 9,055.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 92,017 shares of the company’s stock valued at $184,000 after acquiring an additional 91,012 shares during the last quarter. Institutional investors and hedge funds own 37.85% of the company’s stock.

Insider Buying and Selling at Butterfly Network

In other news, Director Dawn Carfora sold 112,009 shares of Butterfly Network stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $2.69, for a total transaction of $301,304.21. Following the sale, the director directly owned 265,505 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan M. Rothberg sold 132,570 shares of Butterfly Network stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $3.08, for a total value of $408,315.60. Following the sale, the director owned 512,827 shares in the company, valued at $1,579,507.16. This represents a 20.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,574,643 shares of company stock valued at $8,113,867 in the last three months. Company insiders own 25.18% of the company’s stock.

Butterfly Network Trading Up 3.4%

BFLY stock opened at $3.07 on Friday. The company’s 50-day moving average price is $2.42 and its 200 day moving average price is $2.07. The company 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 52 week low of $1.32 and a 52 week 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 (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. Butterfly Network had a negative return on equity of 37.80% and a negative net margin of 90.31%.The business had revenue of $21.49 million for the quarter, compared to the consensus estimate of $21.23 million. On average, equities research analysts expect that Butterfly Network, Inc. will post -0.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen upgraded Butterfly Network from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.00.

Butterfly Network 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.