Jane Street Group LLC Sells 278,353 Shares of Butterfly Network, Inc. (NYSE:BFLY)

Jane Street Group LLC reduced its holdings in Butterfly Network, Inc. (NYSE:BFLY - Free Report) by 55.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 220,856 shares of the company's stock after selling 278,353 shares during the quarter. Jane Street Group LLC owned about 0.10% of Butterfly Network worth $391,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Kovitz Investment Group Partners LLC bought a new stake in shares of Butterfly Network in the third quarter valued at about $44,000. Verition Fund Management LLC bought a new stake in shares of Butterfly Network during the third quarter valued at approximately $57,000. Charles Schwab Investment Management Inc. raised its stake in shares of Butterfly Network by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,331 shares of the company's stock valued at $1,691,000 after purchasing an additional 35,800 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Butterfly Network by 22.0% in the third quarter. Oppenheimer & Co. Inc. now owns 258,920 shares of the company's stock worth $458,000 after purchasing an additional 46,630 shares during the period. Finally, Hartline Investment Corp boosted its stake in Butterfly Network by 87.0% during the third quarter. Hartline Investment Corp now owns 21,500 shares of the company's stock worth $38,000 after buying an additional 10,000 shares in the last quarter. 37.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Butterfly Network

In other Butterfly Network news, insider Steve Cashman sold 164,079 shares of the company's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $3.06, for a total value of $502,081.74. Following the completion of the sale, the insider now owns 1,835,921 shares of the company's stock, valued at approximately $5,617,918.26. This represents a 8.20 % 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, CFO Heather C. Getz sold 30,136 shares of Butterfly Network stock in a transaction on Friday, December 20th. The stock was sold at an average price of $3.06, for a total transaction of $92,216.16. Following the transaction, the chief financial officer now directly owns 2,669,333 shares in the company, valued at approximately $8,168,158.98. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 27.28% of the company's stock.

Butterfly Network Stock Performance

Shares of BFLY stock traded down $0.03 during trading hours on Wednesday, hitting $4.01. The company had a trading volume of 4,234,340 shares, compared to its average volume of 6,562,004. The firm has a market capitalization of $854.38 million, a price-to-earnings ratio of -8.72 and a beta of 2.45. Butterfly Network, Inc. has a 12 month low of $0.67 and a 12 month high of $4.45. The firm's fifty day moving average is $3.10 and its 200 day moving average is $1.97.

Butterfly Network (NYSE:BFLY - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.25%. The firm had revenue of $20.56 million during the quarter, compared to analyst estimates of $19.12 million. During the same period in the prior year, the company posted ($0.13) earnings per share. On average, sell-side analysts expect that Butterfly Network, Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital began coverage on shares of Butterfly Network in a report on Tuesday, September 10th. They set a "buy" rating and a $3.00 price objective for the company.

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.