Butterfly Network, Inc. (NYSE:BFLY) Position Boosted by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC lifted its holdings in Butterfly Network, Inc. (NYSE:BFLY) by 528.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,370 shares of the company’s stock after purchasing an additional 61,688 shares during the period. Palumbo Wealth Management LLC’s holdings in Butterfly Network were worth $229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BFLY. White Pine Capital LLC acquired a new stake in shares of Butterfly Network during the fourth quarter worth $398,000. Calamos Advisors LLC acquired a new position in shares of Butterfly Network in the 4th quarter valued at $525,000. Baader Bank Aktiengesellschaft purchased a new position in Butterfly Network in the 4th quarter worth about $287,000. Kingswood Wealth Advisors LLC acquired a new stake in Butterfly Network during the 4th quarter worth about $70,000. Finally, SG Americas Securities LLC purchased a new stake in Butterfly Network during the fourth quarter valued at about $46,000. 37.85% of the stock is currently owned by institutional investors.

Butterfly Network Price Performance

Shares of BFLY opened at $4.77 on Friday. The company has a 50-day moving average of $3.75 and a two-hundred day moving average of $2.54. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -10.36 and a beta of 2.47. Butterfly Network, Inc. has a one year low of $0.67 and a one year high of $4.95.

Insider Activity at Butterfly Network

In other news, CFO Heather C. Getz sold 30,136 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $3.06, for a total value of $92,216.16. Following the completion of the sale, the chief financial officer now owns 2,669,333 shares in the company, valued at $8,168,158.98. This represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steve Cashman sold 164,079 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $3.06, for a total value of $502,081.74. Following the completion of the sale, the insider now directly owns 1,835,921 shares of the company’s stock, valued at approximately $5,617,918.26. This trade represents a 8.20 % decrease in their position. The disclosure for this sale can be found here. 27.28% of the stock is owned by insiders.

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.