Verdence Capital Advisors LLC Invests $41,000 in Butterfly Network, Inc. (NYSE:BFLY)

Verdence Capital Advisors LLC acquired a new position in Butterfly Network, Inc. (NYSE:BFLY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 13,198 shares of the company’s stock, valued at approximately $41,000.

Other large investors have also recently bought and sold shares of the company. XTX Topco Ltd raised its position in shares of Butterfly Network by 169.7% during the third quarter. XTX Topco Ltd now owns 360,392 shares of the company’s stock worth $638,000 after acquiring an additional 226,781 shares during the last quarter. AMH Equity Ltd bought a new stake in Butterfly Network during the 4th quarter worth about $624,000. Calamos Advisors LLC acquired a new position in Butterfly Network during the 4th quarter valued at about $525,000. SBI Securities Co. Ltd. bought a new position in shares of Butterfly Network in the 4th quarter valued at about $493,000. Finally, White Pine Capital LLC acquired a new stake in shares of Butterfly Network during the 4th quarter worth approximately $398,000. Institutional investors and hedge funds own 37.85% of the company’s stock.

Butterfly Network Price Performance

BFLY opened at $2.85 on Friday. Butterfly Network, Inc. has a fifty-two week low of $0.67 and a fifty-two week high of $4.98. The company has a market cap of $606.16 million, a price-to-earnings ratio of -6.18 and a beta of 2.48. The firm has a 50 day simple moving average of $3.91 and a 200 day simple moving average of $2.81.

Insider Buying and Selling at Butterfly Network

In other news, insider Steve Cashman sold 164,079 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was 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 in the company, valued at approximately $5,617,918.26. The trade was a 8.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Heather C. Getz sold 30,136 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $3.06, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 27.28% of the company’s stock.

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.