Butterfly Network (NYSE:BFLY) Reaches New 1-Year High – Here’s Why

Butterfly Network, Inc. (NYSE:BFLY) shares 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 trading hands. The stock had previously closed at $3.96.

Butterfly Network Trading Down 1.9 %

The business has a fifty day moving average price of $3.63 and a 200 day moving average price of $2.39.

Insider Activity

In other news, CFO Heather C. Getz sold 30,136 shares of the business’s stock in a transaction that occurred on 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 owns 2,669,333 shares in the company, valued at $8,168,158.98. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steve Cashman sold 164,079 shares of the business’s stock in a transaction on 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 directly owns 1,835,921 shares in the company, 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. Insiders own 27.28% of the company’s stock.

Institutional Investors Weigh In On Butterfly Network

A number of institutional investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd purchased a new position in Butterfly Network during the fourth quarter valued at approximately $34,000. Hartline Investment Corp grew its holdings in 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 during the last quarter. Verdence Capital Advisors LLC bought a new position in Butterfly Network in the 4th quarter worth $41,000. Kovitz Investment Group Partners LLC bought a new position in shares of Butterfly Network in the third quarter worth about $44,000. Finally, Barclays PLC grew its holdings in Butterfly Network by 27,790.0% in the 3rd quarter. Barclays PLC now owns 25,101 shares of the company’s stock valued at $44,000 after buying an additional 25,011 shares during the last quarter. 37.85% of the stock is currently owned by institutional investors and hedge funds.

About Butterfly Network

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.