Butterfly Network (NYSE:BFLY) Sets New 52-Week High – Still a Buy?

Butterfly Network, Inc. (NYSE:BFLY)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $4.71 and last traded at $4.60, with a volume of 12008672 shares changing hands. The stock had previously closed at $3.96.

Butterfly Network Stock Performance

The stock has a market cap of $979.02 million, a P/E ratio of -9.99 and a beta of 2.47. The stock has a 50-day moving average price of $3.58 and a 200-day moving average price of $2.36.

Insider Buying and Selling at Butterfly Network

In other Butterfly Network news, CFO Heather C. Getz sold 30,136 shares of the firm’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 $92,216.16. Following the sale, the chief financial officer now owns 2,669,333 shares in the company, valued at $8,168,158.98. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steve Cashman sold 164,079 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 1,835,921 shares of the company’s stock, valued at $5,617,918.26. The trade was 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 company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BFLY. Charles Schwab Investment Management Inc. grew its holdings in shares of Butterfly Network by 3.9% during the 3rd 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 last quarter. Baader Bank Aktiengesellschaft bought a new position in shares of Butterfly Network during the fourth quarter valued at about $287,000. XTX Topco Ltd grew its stake 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 valued at $638,000 after buying an additional 226,781 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Butterfly Network by 22.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 258,920 shares of the company’s stock valued at $458,000 after acquiring an additional 46,630 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Butterfly Network by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,721,723 shares of the company’s stock valued at $3,049,000 after acquiring an additional 65,425 shares during the last quarter. 37.85% of the stock is owned by hedge funds and other institutional investors.

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.