Butterfly Network (NYSE:BFLY) Now Covered by Analysts at William Blair

Investment analysts at William Blair began coverage on shares of Butterfly Network (NYSE:BFLY) in a research note issued on Monday, Marketbeat Ratings reports. The brokerage set an “outperform” rating on the stock.

Butterfly Network Price Performance

Shares of BFLY stock opened at $2.60 on Monday. Butterfly Network has a 1-year low of $0.67 and a 1-year high of $4.98. The stock’s 50-day moving average is $3.75 and its 200 day moving average is $2.93. The company has a market cap of $630.39 million, a P/E ratio of -5.64 and a beta of 2.48.

Insider Buying and Selling at Butterfly Network

In other Butterfly Network news, CFO Heather C. Getz sold 30,136 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $3.06, for a total value of $92,216.16. Following the completion of the sale, the chief financial officer now directly owns 2,669,333 shares in the company, valued at approximately $8,168,158.98. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steve Cashman sold 164,079 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $3.06, for a total value of $502,081.74. Following the completion of the sale, the insider now owns 1,835,921 shares of the company’s stock, valued at approximately $5,617,918.26. This trade represents a 8.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. White Pine Capital LLC purchased a new position in shares of Butterfly Network in the fourth quarter worth about $398,000. Charles Schwab Investment Management Inc. raised its stake in shares of Butterfly Network by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,331 shares of the company’s stock worth $1,691,000 after purchasing an additional 35,800 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of Butterfly Network in the fourth quarter worth about $287,000. Palumbo Wealth Management LLC raised its stake in shares of Butterfly Network by 528.1% in the fourth quarter. Palumbo Wealth Management LLC now owns 73,370 shares of the company’s stock worth $229,000 after purchasing an additional 61,688 shares during the last quarter. Finally, Calamos Advisors LLC purchased a new position in shares of Butterfly Network in the fourth quarter worth about $525,000. 37.85% of the stock is currently owned by hedge funds and other institutional investors.

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.