The acquisition of a new stake in Butterfly Network, Inc. (NYSE:BFLY) by GSA Capital Partners LLP has raised significant buzz in the investment world. As reported by the company in its latest Form 13F filing with the SEC, GSA Capital Partners LLP purchased 191,721 shares of Butterfly Network, valued at approximately $472,000.
Butterfly Network is a digital health company that specializes in developing innovative ultrasound imaging solutions for healthcare systems both within the United States and internationally. The company provides several cutting-edge offerings to consumers including the handheld and single-probe whole-body ultrasound system Butterfly iQ, the point-of-care ultrasound imaging device Butterfly iQ+, and the comprehensive ultrasound platform Butterfly Blueprint that integrates into clinical and administrative infrastructures within healthcare settings.
Undoubtedly, GSA Capital Partners’ acquisition of an ownership stake in Butterfly Network speaks to their confidence in the financial success of this acclaimed digital health provider. As of their most recent SEC filing, GSA Capital Partners LLP now owns a 0.10% stake in Butterfly Network’s stocks.
Currently, NYSE:BFLY opened at $2.21 on Wednesday with a fifty-day simple moving average of $2.21 and a two-hundred-day simple moving average of $2.39. In terms of market performance over time, it is pertinent to note that Butterfly Network’s shares have experienced fluctuations between a 12-month low of $1.63 and a high of $8.72.
It remains to be seen how this new ownership venture will impact any future developments within Butterfly Network as well as its counterparts within digital health research and innovation. Nonetheless, it is undoubtedly clear that investors maintain an eye towards emerging technologies like those offered by Butterfly Networks as we move further into our ever-evolving technological landscape; one where advancements continue to advance exponentially with each passing day.
Butterfly Network, Inc.
BFLY
Neutral
Updated on: 21/09/2023
Financial Health
Weak
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Sell
Institutional Investors Increase Stakes in Butterfly Network Despite Insider Selling
Butterfly Network: Institutional Investors Make Significant Changes to Their Positions
Butterfly Network, a digital health company that specializes in ultrasound imaging solutions, has gained the attention of several other institutional investors and hedge funds recently. These investors have made changes to their positions with the company, increasing their stakes by significant percentages.
Chicago Partners Investment Group LLC lifted its stake in Butterfly Network by 28.5%, now owning 18,912 shares of the company’s stock valued at $57,000. LPL Financial LLC increased its position in Butterfly Network by 7.0%, now owning 64,178 shares of the company’s stock valued at $197,000. Private Advisor Group LLC increased its position in Butterfly Network by 31.0%, now owning 21,986 shares of the company’s stock valued at $105,000.
Swiss National Bank also increased its position in Butterfly Network by 2.2%, now owning 271,700 shares of the company’s stock valued at $668,000. Finally, Game Plan Financial Advisors LLC increased its position in Butterfly Network by 27.0%, now owning 28,200 shares of the company’s stock valued at $69,000.
Institutional investors currently own 49.54% of Butterfly Network’s stock.
In related news, insider Lawrence T. Weiss sold 52,296 shares of the firm’s stock on Wednesday May 24th for an average price of $2.22 per share.The transaction totaled $116,097.12 with Weiss indirectly holding around ~1 Million stocks which were estimated approximately worth over ~$2 Million+ dollars then.
CFO Heather C.Getz also sold her respective holdings amounting up to 64k+ securities on May’03’21 ,as per SEC filings acquirable here.
Corporate insiders collectively have sold more than ~127k securities worth around $263k USD or more, over the past 3 months and still retain 27.15% of the company’s stock.
Butterfly Network’s Q1 earnings report announced revenue of $15.48 million, surpassing analysts’ expectations. Despite having a negative net margin of 215.28%, the company’s innovative product lineup has allowed for promising growth and potential in the industry.
UBS Group initiated coverage on shares of Butterfly Network with a “neutral” rating and a $2.25 price target for the company.
Overall, Butterfly Network is gaining traction among institutional investors and continues to impress investors with its innovative approach to healthcare technology.
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