Levin Capital Strategies L.P. Purchases 70,000 Shares of Butterfly Network, Inc. (NYSE:BFLY)

Levin Capital Strategies L.P. lifted its position in Butterfly Network, Inc. (NYSE:BFLY) by 93.3% in the 1st quarter, Holdings Channel reports. The fund owned 145,000 shares of the company’s stock after acquiring an additional 70,000 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Butterfly Network were worth $157,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Archon Capital Management LLC purchased a new stake in shares of Butterfly Network in the 1st quarter worth approximately $352,000. Texas Capital Bank Wealth Management Services Inc grew its stake in shares of Butterfly Network by 42.9% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock worth $108,000 after buying an additional 30,000 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Butterfly Network by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 7,885,238 shares of the company’s stock worth $8,516,000 after buying an additional 218,720 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Butterfly Network by 645.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 87,180 shares of the company’s stock worth $94,000 after buying an additional 75,480 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Butterfly Network by 3.0% in the 1st quarter. GSA Capital Partners LLP now owns 559,008 shares of the company’s stock worth $604,000 after buying an additional 16,496 shares during the last quarter. Institutional investors own 37.85% of the company’s stock.

Butterfly Network Stock Performance

Shares of Butterfly Network stock traded up $0.04 during midday trading on Wednesday, hitting $1.12. The company had a trading volume of 917,429 shares, compared to its average volume of 1,759,168. The company has a 50 day moving average of $1.01 and a 200 day moving average of $1.01. Butterfly Network, Inc. has a 52-week low of $0.67 and a 52-week high of $2.59.

Butterfly Network (NYSE:BFLY) last issued its earnings results on Wednesday, May 1st. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.05. Butterfly Network had a negative return on equity of 47.83% and a negative net margin of 179.09%. The business had revenue of $17.66 million for the quarter, compared to the consensus estimate of $17.13 million. During the same period last year, the business posted ($0.17) EPS. On average, equities research analysts predict that Butterfly Network, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Butterfly Network

In other Butterfly Network news, CFO Heather C. Getz sold 59,848 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $0.95, for a total transaction of $56,855.60. Following the sale, the chief financial officer now directly owns 2,699,469 shares in the company, valued at approximately $2,564,495.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 76,668 shares of company stock worth $72,010. Insiders own 27.28% of the company’s stock.

Butterfly Network Company 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.