Butterfly Network (NYSE:BFLY) Sets New 1-Year High - Here's What Happened

Shares of Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $4.80 and last traded at $4.88, with a volume of 935427 shares. The stock had previously closed at $4.65.

Butterfly Network Price Performance

The company has a market capitalization of $1.03 billion, a PE ratio of -10.49 and a beta of 2.47. The company has a 50 day moving average of $3.81 and a two-hundred day moving average of $2.60.

Insider Buying and Selling

In other Butterfly Network news, CFO Heather C. Getz sold 30,136 shares of the business'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 $92,216.16. Following the sale, the chief financial officer now directly 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 legal filing with the SEC, which can be accessed through this link. Also, insider Steve Cashman sold 164,079 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 $502,081.74. Following the completion of the sale, the insider now directly owns 1,835,921 shares in the company, valued at approximately $5,617,918.26. This 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 owned by company insiders.

Hedge Funds Weigh In On Butterfly Network

Hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC bought a new stake in Butterfly Network during the 4th quarter valued at about $12,463,000. Capital World Investors bought a new stake in shares of Butterfly Network during the fourth quarter valued at approximately $4,239,000. Raymond James Financial Inc. purchased a new position in Butterfly Network in the 4th quarter worth approximately $3,154,000. Tudor Investment Corp ET AL bought a new position in Butterfly Network in the 4th quarter valued at approximately $2,761,000. Finally, Parkman Healthcare Partners LLC bought a new position in Butterfly Network in the 4th quarter valued at approximately $2,340,000. Institutional investors own 37.85% of the company's 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.