Butterfly Network, Inc. (NYSE:BFLY) Stake Increased by Vanguard Group Inc.

Vanguard Group Inc. lifted its holdings in Butterfly Network, Inc. (NYSE:BFLY) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,437,176 shares of the company’s stock after buying an additional 109,842 shares during the period. Vanguard Group Inc. owned about 3.49% of Butterfly Network worth $23,204,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sound View Wealth Advisors Group LLC lifted its position in Butterfly Network by 18.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 16,000 shares of the company’s stock worth $50,000 after buying an additional 2,500 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Butterfly Network in the fourth quarter worth $34,000. LPL Financial LLC raised its holdings in shares of Butterfly Network by 8.2% during the fourth quarter. LPL Financial LLC now owns 148,029 shares of the company’s stock worth $462,000 after acquiring an additional 11,224 shares in the last quarter. Verdence Capital Advisors LLC acquired a new stake in Butterfly Network during the fourth quarter valued at $41,000. Finally, HBK Sorce Advisory LLC purchased a new position in Butterfly Network in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 37.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, William Blair began coverage on shares of Butterfly Network in a report on Monday, March 17th. They set an “outperform” rating on the stock.

Butterfly Network Price Performance

Shares of Butterfly Network stock opened at $2.52 on Wednesday. The firm has a fifty day moving average price of $3.09 and a two-hundred day moving average price of $3.02. Butterfly Network, Inc. has a fifty-two week low of $0.67 and a fifty-two week high of $4.98. The company has a market cap of $610.95 million, a PE ratio of -5.47 and a beta of 2.60.

Butterfly Network 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.