Butterfly Network, Inc. (NYSE:BFLY) Shares Sold by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc lessened its position in Butterfly Network, Inc. (NYSE:BFLY) by 40.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,000 shares of the company’s stock after selling 40,000 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Butterfly Network were worth $106,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cetera Advisors LLC acquired a new position in Butterfly Network during the 1st quarter worth $1,250,000. Marshall Wace LLP lifted its holdings in Butterfly Network by 353.7% in the second quarter. Marshall Wace LLP now owns 318,383 shares of the company’s stock worth $267,000 after purchasing an additional 248,201 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in Butterfly Network by 1,045.0% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 256,974 shares of the company’s stock valued at $216,000 after buying an additional 234,530 shares in the last quarter. Vanguard Group Inc. increased its stake in Butterfly Network by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 7,885,238 shares of the company’s stock valued at $8,516,000 after buying an additional 218,720 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Butterfly Network in the 2nd quarter worth approximately $112,000. 37.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Lake Street Capital started coverage on shares of Butterfly Network in a research note on Tuesday, September 10th. They set a “buy” rating and a $3.00 price objective on the stock.

Butterfly Network Price Performance

BFLY opened at $3.27 on Friday. The stock’s fifty day moving average is $2.34 and its 200-day moving average is $1.56. Butterfly Network, Inc. has a one year low of $0.67 and a one year high of $3.55.

Butterfly Network (NYSE:BFLY) last issued its quarterly earnings results on Friday, November 1st. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The firm had revenue of $20.56 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the business earned ($0.13) earnings per share. As a group, equities research analysts predict that Butterfly Network, Inc. will post -0.34 earnings per share for the current fiscal year.

About Butterfly Network

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.