Butterfly Network (NYSE:BFLY) Coverage Initiated by Analysts at William Blair

William Blair assumed coverage on shares of Butterfly Network (NYSE:BFLY) in a research report released on Monday morning, MarketBeat reports. The brokerage issued an outperform rating on the stock.

Butterfly Network Trading Up 0.9 %

BFLY stock opened at $2.71 on Monday. The stock has a 50-day moving average price of $3.78 and a 200-day moving average price of $2.92. Butterfly Network has a 1-year low of $0.67 and a 1-year high of $4.98. The firm has a market cap of $657.11 million, a PE ratio of -5.88 and a beta of 2.48.

Insider Transactions at Butterfly Network

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

Hedge Funds Weigh In On Butterfly Network

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ground Swell Capital LLC bought a new stake in shares of Butterfly Network in the 4th quarter worth approximately $32,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Butterfly Network in the 4th quarter worth approximately $34,000. Verdence Capital Advisors LLC bought a new stake in shares of Butterfly Network in the 4th quarter worth approximately $41,000. Barclays PLC raised its holdings in shares of Butterfly Network by 27,790.0% in the 3rd quarter. Barclays PLC now owns 25,101 shares of the company’s stock worth $44,000 after purchasing an additional 25,011 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of Butterfly Network in the 3rd quarter worth approximately $44,000. 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.