Butterfly Network (NYSE:BFLY) Hits New 12-Month High – Here’s Why

Shares of Butterfly Network, Inc. (NYSE:BFLY) hit a new 52-week high during trading on Wednesday . The company traded as high as $4.71 and last traded at $4.60, with a volume of 12008672 shares changing hands. The stock had previously closed at $3.96.

Butterfly Network Trading Up 16.0 %

The stock’s fifty day moving average price is $3.58 and its 200 day moving average price is $2.36. The stock has a market cap of $979.02 million, a P/E ratio of -9.99 and a beta of 2.47.

Insider Buying and Selling

In related news, CFO Heather C. Getz sold 30,136 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 transaction of $92,216.16. Following the sale, the chief financial officer now directly owns 2,669,333 shares of the company’s stock, valued at approximately $8,168,158.98. This represents a 1.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steve Cashman sold 164,079 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $3.06, for a total transaction of $502,081.74. Following the sale, the insider now owns 1,835,921 shares of the company’s stock, valued at approximately $5,617,918.26. This 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 insiders.

Institutional Investors Weigh In On Butterfly Network

Institutional investors have recently made changes to their positions in the company. Procyon Advisors LLC lifted its position in Butterfly Network by 7.3% in the 3rd quarter. Procyon Advisors LLC now owns 81,882 shares of the company’s stock valued at $145,000 after acquiring an additional 5,600 shares in the last quarter. Hartline Investment Corp lifted its holdings in shares of Butterfly Network by 87.0% during the third quarter. Hartline Investment Corp now owns 21,500 shares of the company’s stock valued at $38,000 after purchasing an additional 10,000 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Butterfly Network during the fourth quarter valued at $34,000. SG Americas Securities LLC bought a new stake in Butterfly Network in the 4th quarter worth about $46,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in Butterfly Network in the 4th quarter worth about $70,000. Hedge funds and other institutional investors own 37.85% 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.