ARK Investment Management LLC Lowers Stake in Butterfly Network, Inc. (NYSE:BFLY)

ARK Investment Management LLC lessened its position in shares of Butterfly Network, Inc. (NYSE:BFLY) by 30.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,011,520 shares of the company’s stock after selling 2,664,713 shares during the period. ARK Investment Management LLC’s holdings in Butterfly Network were worth $18,756,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BFLY. XTX Topco Ltd grew its position in 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 acquiring an additional 226,781 shares during the period. Calamos Advisors LLC purchased a new stake in Butterfly Network during the fourth quarter valued at about $525,000. White Pine Capital LLC purchased a new stake in shares of Butterfly Network in the fourth quarter worth about $398,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Butterfly Network in the fourth quarter worth about $287,000. Finally, Geode Capital Management LLC boosted its position in shares of Butterfly Network by 4.0% in the third quarter. Geode Capital Management LLC now owns 1,721,723 shares of the company’s stock worth $3,049,000 after buying an additional 65,425 shares during the period. Hedge funds and other institutional investors own 37.85% of the company’s stock.

Insider Transactions at Butterfly Network

In other news, CFO Heather C. Getz sold 30,136 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 $92,216.16. Following the completion of the sale, the chief financial officer now owns 2,669,333 shares of the company’s stock, valued at $8,168,158.98. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 sale, the insider now directly 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 position. The disclosure for this sale can be found here. Company insiders own 27.28% of the company’s stock.

Butterfly Network Price Performance

Shares of NYSE BFLY opened at $3.73 on Wednesday. Butterfly Network, Inc. has a 1-year low of $0.67 and a 1-year high of $4.98. The business has a 50-day moving average of $3.88 and a 200-day moving average of $2.72. The company has a market capitalization of $793.66 million, a price-to-earnings ratio of -8.10 and a beta of 2.47.

Butterfly Network Company 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.