GSA Capital Partners LLP Sells 347,484 Shares of Butterfly Network, Inc. (NYSE:BFLY)

GSA Capital Partners LLP reduced its stake in shares of Butterfly Network, Inc. (NYSE:BFLY - Free Report) by 27.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 925,518 shares of the company's stock after selling 347,484 shares during the period. GSA Capital Partners LLP owned approximately 0.44% of Butterfly Network worth $1,638,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Point72 DIFC Ltd raised its holdings in shares of Butterfly Network by 1,271.4% in the second quarter. Point72 DIFC Ltd now owns 77,418 shares of the company's stock valued at $65,000 after purchasing an additional 71,773 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Butterfly Network during the second quarter worth $90,000. Oppenheimer & Co. Inc. raised its stake in Butterfly Network by 645.1% in the first quarter. Oppenheimer & Co. Inc. now owns 87,180 shares of the company's stock valued at $94,000 after purchasing an additional 75,480 shares in the last quarter. Cannon Global Investment Management LLC acquired a new position in Butterfly Network in the third quarter valued at about $100,000. Finally, Texas Capital Bank Wealth Management Services Inc raised its stake in Butterfly Network by 42.9% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company's stock valued at $108,000 after purchasing an additional 30,000 shares in the last quarter. 37.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Butterfly Network

In other news, Director Larry Robbins bought 244,774 shares of the business's stock in a transaction that occurred on Friday, August 30th. The shares were bought at an average cost of $1.07 per share, for a total transaction of $261,908.18. Following the acquisition, the director now directly owns 9,955,144 shares in the company, valued at approximately $10,652,004.08. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 27.28% of the company's stock.

Butterfly Network Stock Performance

NYSE:BFLY traded down $0.02 on Wednesday, reaching $2.66. 1,985,789 shares of the stock traded hands, compared to its average volume of 1,966,990. The company's 50 day moving average is $1.89 and its 200-day moving average is $1.31. Butterfly Network, Inc. has a 1-year low of $0.67 and a 1-year high of $2.92.

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

Wall Street Analyst Weigh In

Separately, Lake Street Capital began coverage on Butterfly Network in a research note on Tuesday, September 10th. They set a "buy" rating and a $3.00 target price 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.