HBK Sorce Advisory LLC Acquires New Position in Butterfly Network, Inc. (NYSE:BFLY)

HBK Sorce Advisory LLC acquired a new stake in shares of Butterfly Network, Inc. (NYSE:BFLY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 14,266 shares of the company’s stock, valued at approximately $45,000.

A number of other hedge funds also recently made changes to their positions in the stock. Sound View Wealth Advisors Group LLC grew its stake in shares of Butterfly Network by 18.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 16,000 shares of the company’s stock valued at $50,000 after acquiring an additional 2,500 shares during the period. Raymond James Financial Inc. bought a new position in shares of Butterfly Network during the 4th quarter valued at approximately $3,154,000. Verdence Capital Advisors LLC bought a new position in Butterfly Network in the 4th quarter worth approximately $41,000. SBI Securities Co. Ltd. bought a new position in Butterfly Network in the 4th quarter worth approximately $493,000. Finally, Levin Capital Strategies L.P. boosted its stake in Butterfly Network by 41.7% in the 4th quarter. Levin Capital Strategies L.P. now owns 85,000 shares of the company’s stock worth $265,000 after purchasing an additional 25,000 shares during the period. 37.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Butterfly Network Price Performance

BFLY stock opened at $2.68 on Friday. Butterfly Network, Inc. has a 1-year low of $0.67 and a 1-year high of $4.98. The company has a market capitalization of $649.82 million, a price-to-earnings ratio of -5.82 and a beta of 2.48. The business has a 50 day simple moving average of $3.81 and a two-hundred day simple moving average of $2.89.

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.