Butterfly Network, Inc. (NYSE:BFLY) Position Increased by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC raised its position in Butterfly Network, Inc. (NYSE:BFLY) by 528.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 73,370 shares of the company’s stock after buying an additional 61,688 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Butterfly Network were worth $229,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BFLY. XTX Topco Ltd grew its stake in shares of Butterfly Network by 169.7% in the 3rd 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 in the last quarter. Calamos Advisors LLC acquired a new stake in Butterfly Network in the fourth quarter valued at approximately $525,000. White Pine Capital LLC bought a new stake in Butterfly Network in the fourth quarter worth approximately $398,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Butterfly Network during the 4th quarter worth $287,000. Finally, Geode Capital Management LLC raised its holdings in shares of Butterfly Network by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,721,723 shares of the company’s stock valued at $3,049,000 after purchasing an additional 65,425 shares in the last quarter. 37.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Steve Cashman sold 164,079 shares of the firm’s 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 transaction, the insider now directly owns 1,835,921 shares in the company, valued at approximately $5,617,918.26. This trade represents a 8.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $92,216.16. Following the transaction, the chief financial officer now directly owns 2,669,333 shares of the company’s stock, valued at approximately $8,168,158.98. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 27.28% of the company’s stock.

Butterfly Network Trading Up 2.5 %

Shares of NYSE:BFLY opened at $4.77 on Friday. The stock has a market capitalization of $1.02 billion, a PE ratio of -10.36 and a beta of 2.47. Butterfly Network, Inc. has a 1 year low of $0.67 and a 1 year high of $4.95. The firm has a fifty day moving average price of $3.75 and a 200 day moving average price of $2.54.

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.