Renaissance Technologies LLC Sells 1,090,500 Shares of Butterfly Network, Inc. (NYSE:BFLY)

Renaissance Technologies LLC lessened its holdings in Butterfly Network, Inc. (NYSE:BFLY - Free Report) by 52.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,001,100 shares of the company's stock after selling 1,090,500 shares during the quarter. Renaissance Technologies LLC owned 0.47% of Butterfly Network worth $3,123,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Butterfly Network in the 4th quarter valued at $34,000. Verdence Capital Advisors LLC acquired a new stake in shares of Butterfly Network during the fourth quarter worth approximately $41,000. Barclays PLC raised its stake in shares of Butterfly Network by 27,790.0% in the third quarter. Barclays PLC now owns 25,101 shares of the company's stock valued at $44,000 after acquiring an additional 25,011 shares during the last quarter. HBK Sorce Advisory LLC acquired a new position in shares of Butterfly Network in the 4th quarter worth approximately $45,000. Finally, SG Americas Securities LLC bought a new stake in Butterfly Network during the 4th quarter worth approximately $46,000. Institutional investors own 37.85% of the company's stock.

Wall Street Analysts Forecast Growth

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

Butterfly Network Stock Down 1.4 %

BFLY stock traded down $0.04 during midday trading on Tuesday, reaching $2.40. The stock had a trading volume of 262,056 shares, compared to its average volume of 2,867,914. Butterfly Network, Inc. has a twelve month low of $0.77 and a twelve month high of $4.98. The firm has a market cap of $581.80 million, a price-to-earnings ratio of -5.21 and a beta of 2.60. The business has a fifty day simple moving average of $2.71 and a two-hundred day simple moving average of $3.06.

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.