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

First Light Asset Management LLC purchased a new position in shares of Butterfly Network, Inc. (NYSE:BFLY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,994,620 shares of the company's stock, valued at approximately $12,463,000. Butterfly Network makes up 1.2% of First Light Asset Management LLC's portfolio, making the stock its 23rd largest position. First Light Asset Management LLC owned about 1.87% of Butterfly Network as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Butterfly Network by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 7,437,176 shares of the company's stock valued at $23,204,000 after purchasing an additional 109,842 shares during the period. Geode Capital Management LLC boosted 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 acquiring an additional 30,828 shares during the last quarter. Capital World Investors acquired a new stake in Butterfly Network during the 4th quarter worth about $4,239,000. Raymond James Financial Inc. acquired a new position in shares of Butterfly Network in the 4th quarter valued at about $3,154,000. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Butterfly Network during the 4th quarter valued at about $2,761,000. 37.85% of the stock is owned by institutional investors.

Butterfly Network Stock Down 0.6 %

NYSE:BFLY traded down $0.02 during trading hours on Thursday, reaching $2.33. The company had a trading volume of 2,799,731 shares, compared to its average volume of 2,886,740. Butterfly Network, Inc. has a twelve month low of $0.82 and a twelve month high of $4.98. The firm has a market cap of $564.80 million, a price-to-earnings ratio of -5.05 and a beta of 2.60. The business's 50-day simple moving average is $2.63 and its two-hundred day simple moving average is $3.05.

Insider Activity

In other Butterfly Network news, CEO Joseph Devivo sold 320,215 shares of the company's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $2.44, for a total transaction of $781,324.60. Following the transaction, the chief executive officer now owns 7,249,789 shares in the company, valued at approximately $17,689,485.16. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 27.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.