Stoic Point Capital Management LLC Has $2.35 Million Stock Holdings in Butterfly Network, Inc. $BFLY

Stoic Point Capital Management LLC lessened its position in shares of Butterfly Network, Inc. (NYSE:BFLY) by 22.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 582,850 shares of the company’s stock after selling 167,000 shares during the quarter. Butterfly Network comprises about 2.3% of Stoic Point Capital Management LLC’s investment portfolio, making the stock its 7th biggest holding. Stoic Point Capital Management LLC’s holdings in Butterfly Network were worth $2,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. AWM Investment Company Inc. raised its holdings in shares of Butterfly Network by 750.0% during the 4th quarter. AWM Investment Company Inc. now owns 3,400,000 shares of the company’s stock worth $12,920,000 after acquiring an additional 3,000,000 shares in the last quarter. First Light Asset Management LLC boosted its position in shares of Butterfly Network by 149.3% during the 4th quarter. First Light Asset Management LLC now owns 2,812,131 shares of the company’s stock valued at $10,686,000 after acquiring an additional 1,684,133 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Butterfly Network in the second quarter valued at $2,183,000. Deutsche Bank AG grew its holdings in shares of Butterfly Network by 156.7% in the fourth quarter. Deutsche Bank AG now owns 1,652,237 shares of the company’s stock valued at $6,279,000 after purchasing an additional 1,008,556 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Butterfly Network by 126.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,801,081 shares of the company’s stock valued at $6,844,000 after purchasing an additional 1,006,095 shares in the last quarter. Institutional investors own 37.85% of the company’s stock.

Butterfly Network News Roundup

Here are the key news stories impacting Butterfly Network this week:

• Positive Sentiment: Investor focus is turning to Butterfly Network’s upcoming second-quarter results. Revenue is projected to increase 21.5%, supported by demand for the iQ3 ultrasound system, broader Compass AI adoption and growth in the company’s Embedded business. Strong execution in these areas could reinforce the stock’s recent rally. Can AI Momentum and Embedded Growth Lift BFLY’s Q2 Results?
• Neutral Sentiment: CEO Joseph DeVivo, EVP John N. Doherty and CTO Victor Ku collectively sold approximately 317,000 shares at about $6.56 per share. The transactions were made to cover tax-withholding obligations tied to vested equity awards, which makes them less indicative of a bearish view; the executives continue to hold substantial stakes. SEC filing for executive transactions
• Negative Sentiment: Founder and Director Jonathan Rothberg sold roughly 3.8 million shares for approximately $25.0 million between July 17 and July 22, substantially reducing his direct ownership. Although the sales were executed under a pre-arranged Rule 10b5-1 plan and described as related to estate planning, their size may create overhang and raise investor concerns about insider conviction after BFLY’s large one-year advance. Butterfly Network Founder Rothberg Sells Another 660,000 Shares

Butterfly Network Stock Performance

NYSE:BFLY opened at $7.20 on Wednesday. The stock’s fifty day moving average is $6.48 and its 200 day moving average is $4.94. Butterfly Network, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $9.69. The firm has a market capitalization of $1.83 billion, a PE ratio of -24.01 and a beta of 2.05.

Butterfly Network (NYSE:BFLY) last released its earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. Butterfly Network had a negative net margin of 73.63% and a negative return on equity of 34.41%. The firm had revenue of $26.53 million during the quarter, compared to analyst estimates of $26.08 million. Equities analysts forecast that Butterfly Network, Inc. will post -0.18 EPS for the current year.

Insider Activity at Butterfly Network

In related news, insider Steve Cashman sold 294,680 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $4.66, for a total value of $1,373,208.80. Following the completion of the sale, the insider owned 1,630,407 shares in the company, valued at approximately $7,597,696.62. The trade was a 15.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John N. Doherty sold 57,136 shares of the company’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $6.56, for a total value of $374,812.16. Following the completion of the sale, the executive vice president owned 1,397,276 shares of the company’s stock, valued at $9,166,130.56. This represents a 3.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 4,840,207 shares of company stock valued at $31,652,184 over the last 90 days. 21.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Butterfly Network presently has a consensus rating of “Hold” and an average price target of $5.56.

About Butterfly Network

Butterfly Network, Inc is a medical technology company focused on democratizing access to diagnostic imaging through its proprietary ultrasound-on-chip platform. The company’s flagship device, the Butterfly iQ, leverages semiconductor technology to deliver whole-body ultrasound imaging in a handheld form factor. This portable system connects to a compatible smart device, enabling point-of-care scanning across a variety of clinical settings.

Beyond its hardware offering, Butterfly Network provides a cloud-based software suite that supports image storage, analysis and remote collaboration.