Raymond James Financial Inc. Makes New Investment in Butterfly Network, Inc. (NYSE:BFLY)

Raymond James Financial Inc. purchased a new stake in Butterfly Network, Inc. (NYSE:BFLY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 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 reporting period.

A number of other large investors also recently modified their holdings of BFLY. Vanguard Group Inc. grew its position in Butterfly Network by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 7,437,176 shares of the company's stock worth $23,204,000 after buying an additional 109,842 shares in the last quarter. Geode Capital Management LLC lifted its stake in Butterfly Network by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,752,551 shares of the company's stock valued at $5,470,000 after buying an additional 30,828 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Butterfly Network during the 4th quarter worth about $1,090,000. Oppenheimer & Co. Inc. raised its holdings in Butterfly Network by 14.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 295,126 shares of the company's stock worth $921,000 after buying an additional 36,206 shares during the last quarter. Finally, AMH Equity Ltd bought a new position in shares of Butterfly Network in the fourth quarter valued at approximately $624,000. 37.85% of the stock is currently owned by institutional investors and hedge funds.

Butterfly Network Stock Down 2.9 %

Shares of BFLY stock traded down $0.07 during trading hours on Wednesday, hitting $2.33. 1,748,882 shares of the company's stock traded hands, compared to its average volume of 2,874,276. Butterfly Network, Inc. has a 12-month low of $0.77 and a 12-month high of $4.98. The stock's fifty day simple moving average is $2.66 and its two-hundred day simple moving average is $3.05. The stock has a market cap of $566.01 million, a price-to-earnings ratio of -5.07 and a beta of 2.60.

Analysts Set New Price Targets

Separately, William Blair began coverage on Butterfly Network in a report on Monday, March 17th. They set an "outperform" rating for the company.

Insider Activity

In related news, CEO Joseph Devivo sold 320,215 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $2.44, for a total transaction of $781,324.60. Following the completion of the transaction, the chief executive officer now directly owns 7,249,789 shares in the company, valued at approximately $17,689,485.16. The trade was a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 27.28% of the stock is owned by corporate insiders.

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.