First Light Asset Management LLC Buys New Shares in Butterfly Network, Inc. (NYSE:BFLY)

First Light Asset Management LLC acquired a new stake in shares of Butterfly Network, Inc. (NYSE:BFLY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,994,620 shares of the company's stock, valued at approximately $12,463,000. Butterfly Network makes up about 1.2% of First Light Asset Management LLC's holdings, making the stock its 23rd biggest position. First Light Asset Management LLC owned 1.87% of Butterfly Network at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Butterfly Network by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 7,437,176 shares of the company's stock worth $23,204,000 after acquiring an additional 109,842 shares during the period. Geode Capital Management LLC grew its position in Butterfly Network by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,752,551 shares of the company's stock valued at $5,470,000 after purchasing an additional 30,828 shares in the last quarter. Capital World Investors acquired a new position in Butterfly Network in the 4th quarter valued at approximately $4,239,000. Raymond James Financial Inc. purchased a new stake in Butterfly Network in the 4th quarter worth approximately $3,154,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Butterfly Network during the 4th quarter valued at $2,761,000. 37.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Butterfly Network

In other news, CEO Joseph Devivo sold 320,215 shares of Butterfly Network stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $2.44, for a total value of $781,324.60. Following the transaction, the chief executive officer now owns 7,249,789 shares of the company's stock, valued at $17,689,485.16. This trade represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 27.28% of the company's stock.

Butterfly Network Stock Performance

Shares of Butterfly Network stock traded down $0.02 during trading on Friday, hitting $2.32. 4,855,712 shares of the stock traded hands, compared to its average volume of 2,888,537. The stock has a market cap of $563.58 million, a P/E ratio of -5.04 and a beta of 2.60. The company has a fifty day moving average price of $2.56 and a two-hundred day moving average price of $3.06. Butterfly Network, Inc. has a twelve month low of $0.82 and a twelve month high of $4.98.

Butterfly Network (NYSE:BFLY - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.03. Butterfly Network had a negative net margin of 129.25% and a negative return on equity of 42.68%. The firm had revenue of $21.23 million during the quarter, compared to analysts' expectations of $21.16 million. On average, equities research analysts expect that Butterfly Network, Inc. will post -0.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, William Blair assumed coverage on shares of Butterfly Network in a research note on Monday, March 17th. They issued an "outperform" rating on the 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.