Butterfly Network, Inc. (NYSE:BFLY) Shares Bought by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC boosted its stake in Butterfly Network, Inc. (NYSE:BFLY - Free Report) by 528.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,370 shares of the company's stock after acquiring an additional 61,688 shares during the period. Palumbo Wealth Management LLC's holdings in Butterfly Network were worth $229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BFLY. Cannon Global Investment Management LLC purchased a new position in Butterfly Network during the 3rd quarter worth $100,000. Hartline Investment Corp increased its stake in shares of Butterfly Network by 87.0% during the third quarter. Hartline Investment Corp now owns 21,500 shares of the company's stock worth $38,000 after acquiring an additional 10,000 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Butterfly Network by 22.0% during the third quarter. Oppenheimer & Co. Inc. now owns 258,920 shares of the company's stock worth $458,000 after purchasing an additional 46,630 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Butterfly Network by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,331 shares of the company's stock valued at $1,691,000 after purchasing an additional 35,800 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in Butterfly Network in the 3rd quarter valued at approximately $57,000. 37.85% of the stock is owned by hedge funds and other institutional investors.

Butterfly Network Price Performance

Shares of BFLY stock traded down $0.13 during trading hours on Wednesday, reaching $4.70. 2,284,373 shares of the company's stock were exchanged, compared to its average volume of 4,751,737. The company's 50 day moving average is $3.83 and its two-hundred day moving average is $2.62. The company has a market cap of $1.00 billion, a P/E ratio of -10.21 and a beta of 2.47. Butterfly Network, Inc. has a 1 year low of $0.67 and a 1 year high of $4.98.

Insider Buying and Selling

In related news, CFO Heather C. Getz sold 30,136 shares of the business's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $3.06, for a total transaction of $92,216.16. Following the sale, the chief financial officer now owns 2,669,333 shares of the company's stock, valued at approximately $8,168,158.98. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steve Cashman sold 164,079 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $3.06, for a total transaction of $502,081.74. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 27.28% of the stock is currently owned by corporate insiders.

Butterfly Network 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.