1,010,977 Shares in Butterfly Network, Inc. (NYSE:BFLY) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Butterfly Network, Inc. (NYSE:BFLY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,010,977 shares of the company’s stock, valued at approximately $3,154,000. Raymond James Financial Inc. owned 0.47% of Butterfly Network at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BFLY. Y Intercept Hong Kong Ltd bought a new stake in Butterfly Network in the fourth quarter worth $34,000. Verdence Capital Advisors LLC bought a new position in Butterfly Network during the fourth quarter valued at approximately $41,000. SG Americas Securities LLC purchased a new stake in Butterfly Network during the fourth quarter valued at $46,000. Kingswood Wealth Advisors LLC bought a new position in Butterfly Network in the fourth quarter valued at about $70,000. Finally, Kovitz Investment Group Partners LLC purchased a new stake in Butterfly Network during the third quarter valued at approximately $44,000. Institutional investors own 37.85% of the company’s stock.

Butterfly Network Stock Performance

BFLY stock opened at $2.36 on Friday. The firm has a market cap of $574.27 million, a PE ratio of -5.14 and a beta of 2.48. The firm has a fifty day moving average price of $3.57 and a 200 day moving average price of $2.97. Butterfly Network, Inc. has a fifty-two week low of $0.67 and a fifty-two week high of $4.98.

Analyst Upgrades and Downgrades

Separately, William Blair initiated coverage on Butterfly Network in a research note on Monday, March 17th. They set an “outperform” rating for the company.

Butterfly Network 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.