Butterfly Network (NYSE:BFLY) Shares Down 7.9% – Here’s What Happened

Butterfly Network, Inc. (NYSE:BFLY)’s share price traded down 7.9% during trading on Monday . The stock traded as low as $4.05 and last traded at $4.00. 719,393 shares were traded during mid-day trading, a decline of 85% from the average session volume of 4,822,235 shares. The stock had previously closed at $4.34.

Butterfly Network Trading Down 1.8 %

The business has a fifty day moving average price of $3.68 and a two-hundred day moving average price of $2.47.

Insider Buying and Selling

In related news, CFO Heather C. Getz sold 30,136 shares of Butterfly Network stock in a transaction that occurred on Friday, December 20th. The shares were 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 owns 2,669,333 shares in the company, valued at $8,168,158.98. The trade was a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steve Cashman sold 164,079 shares of the business’s 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 $502,081.74. Following the transaction, the insider now owns 1,835,921 shares of the company’s stock, valued at $5,617,918.26. This trade represents a 8.20 % decrease in their position. The disclosure for this sale can be found here. 27.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Butterfly Network

Several institutional investors have recently modified their holdings of BFLY. Cubist Systematic Strategies LLC purchased a new stake in Butterfly Network during the second quarter worth approximately $90,000. Procyon Advisors LLC lifted its position in shares of Butterfly Network by 7.3% during the 3rd quarter. Procyon Advisors LLC now owns 81,882 shares of the company’s stock worth $145,000 after buying an additional 5,600 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in shares of Butterfly Network in the 3rd quarter valued at $100,000. Hartline Investment Corp grew its position in shares of Butterfly Network by 87.0% in the 3rd quarter. Hartline Investment Corp now owns 21,500 shares of the company’s stock valued at $38,000 after buying an additional 10,000 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in Butterfly Network by 22.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 258,920 shares of the company’s stock worth $458,000 after acquiring an additional 46,630 shares in the last quarter. 37.85% of the stock is owned by hedge funds and other institutional investors.

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.