Quent Capital LLC Takes Position in Butterfly Network, Inc. $BFLY

Quent Capital LLC bought a new stake in Butterfly Network, Inc. (NYSE:BFLY) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 183,500 shares of the company’s stock, valued at approximately $697,000. Quent Capital LLC owned approximately 0.07% of Butterfly Network as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Butterfly Network by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,040,080 shares of the company’s stock valued at $21,307,000 after buying an additional 453,258 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of Butterfly Network by 10.1% during the 2nd quarter. Raymond James Financial Inc. now owns 1,218,878 shares of the company’s stock valued at $2,438,000 after buying an additional 111,699 shares during the last quarter. Sei Investments Co. grew its position in shares of Butterfly Network by 4.6% during the 3rd quarter. Sei Investments Co. now owns 1,142,049 shares of the company’s stock valued at $2,204,000 after buying an additional 50,376 shares during the last quarter. Bank of America Corp DE grew its position in shares of Butterfly Network by 95.3% during the 2nd quarter. Bank of America Corp DE now owns 938,622 shares of the company’s stock valued at $1,877,000 after buying an additional 458,039 shares during the last quarter. Finally, Perkins Capital Management Inc. grew its position in shares of Butterfly Network by 213.0% during the 3rd quarter. Perkins Capital Management Inc. now owns 924,280 shares of the company’s stock valued at $1,784,000 after buying an additional 629,020 shares during the last quarter. Institutional investors own 37.85% of the company’s stock.

Butterfly Network Trading Up 0.7%

NYSE BFLY opened at $5.37 on Monday. Butterfly Network, Inc. has a 52 week low of $1.32 and a 52 week high of $5.72. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -17.31 and a beta of 2.21. The company has a 50-day moving average price of $4.06 and a two-hundred day moving average price of $3.50.

Butterfly Network (NYSE:BFLY) last posted its earnings results on Thursday, February 26th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Butterfly Network had a negative net margin of 78.95% and a negative return on equity of 33.13%. The firm had revenue of $31.51 million during the quarter, compared to analysts’ expectations of $26.25 million. As a group, equities research analysts expect that Butterfly Network, Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on BFLY. Zacks Research raised shares of Butterfly Network from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. TD Cowen boosted their price objective on shares of Butterfly Network from $4.50 to $6.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Loop Capital set a $5.50 price objective on shares of Butterfly Network in a research report on Monday, March 2nd. Lake Street Capital boosted their price objective on shares of Butterfly Network from $4.00 to $5.50 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $5.25 price objective on shares of Butterfly Network in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.56.

Butterfly Network Profile

Butterfly Network, Inc is a medical technology company focused on democratizing access to diagnostic imaging through its proprietary ultrasound-on-chip platform. The company’s flagship device, the Butterfly iQ, leverages semiconductor technology to deliver whole-body ultrasound imaging in a handheld form factor. This portable system connects to a compatible smart device, enabling point-of-care scanning across a variety of clinical settings.

Beyond its hardware offering, Butterfly Network provides a cloud-based software suite that supports image storage, analysis and remote collaboration.