Butterfly Network, Inc. (NYSE:BFLY) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC trimmed its stake in Butterfly Network, Inc. (NYSE:BFLY) by 30.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,011,520 shares of the company’s stock after selling 2,664,713 shares during the quarter. ARK Investment Management LLC owned approximately 2.82% of Butterfly Network worth $18,756,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Butterfly Network in the fourth quarter worth $34,000. Palumbo Wealth Management LLC raised its holdings in shares of Butterfly Network by 528.1% in the fourth quarter. Palumbo Wealth Management LLC now owns 73,370 shares of the company’s stock worth $229,000 after acquiring an additional 61,688 shares during the last quarter. White Pine Capital LLC acquired a new position in shares of Butterfly Network in the fourth quarter worth $398,000. Calamos Advisors LLC acquired a new position in shares of Butterfly Network in the fourth quarter worth $525,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Butterfly Network in the fourth quarter worth $287,000. 37.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Butterfly Network

In related news, CFO Heather C. Getz sold 30,136 shares of the company’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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steve Cashman sold 164,079 shares of the company’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 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. Insiders own 27.28% of the company’s stock.

Butterfly Network Stock Down 7.6 %

NYSE BFLY opened at $3.73 on Wednesday. The stock has a market cap of $793.66 million, a price-to-earnings ratio of -8.10 and a beta of 2.47. The business has a fifty day moving average of $3.88 and a 200-day moving average of $2.72. Butterfly Network, Inc. has a fifty-two week low of $0.67 and a fifty-two week high of $4.98.

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.