1,828,311 Shares in Butterfly Network, Inc. (NASDAQ:BFLY) Bought by PFM Health Sciences LP

PFM Health Sciences LP purchased a new position in shares of Butterfly Network, Inc. (NASDAQ:BFLY) during the 1st quarter, Holdings Channel reports. The fund purchased 1,828,311 shares of the company’s stock, valued at approximately $30,770,000.

Other large investors have also modified their holdings of the company. Board of Trustees of The Leland Stanford Junior University bought a new stake in Butterfly Network during the 1st quarter worth about $26,238,000. Glenview Capital Management LLC bought a new stake in Butterfly Network during the 1st quarter worth about $80,361,000. Blair William & Co. IL bought a new stake in Butterfly Network during the 1st quarter worth about $316,000. Gagnon Securities LLC bought a new stake in Butterfly Network during the 1st quarter worth about $701,000. Finally, Prentice Capital Management LP bought a new stake in Butterfly Network during the 1st quarter worth about $2,220,000. 34.17% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Cowen began coverage on shares of Butterfly Network in a research report on Monday, June 21st. They set an “outperform” rating and a $20.00 price target on the stock.

Shares of BFLY stock traded down $0.27 on Thursday, reaching $11.04. The stock had a trading volume of 25,642 shares, compared to its average volume of 3,054,592. The stock’s 50-day moving average price is $12.42. The stock has a market capitalization of $2.11 billion and a price-to-earnings ratio of -0.41. Butterfly Network, Inc. has a 12 month low of $9.20 and a 12 month high of $29.13.

Butterfly Network (NASDAQ:BFLY) last issued its earnings results on Thursday, May 13th. The company reported ($0.46) earnings per share (EPS) for the quarter. The firm had revenue of $12.44 million for the quarter. Equities analysts forecast that Butterfly Network, Inc. will post -0.81 earnings per share for the current year.

In other news, Director Larry Robbins bought 150,000 shares of the company’s stock in a transaction dated Wednesday, May 26th. The shares were bought at an average cost of $11.09 per share, with a total value of $1,663,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO David Perri sold 151,417 shares of the stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $14.00, for a total transaction of $2,119,838.00. Following the completion of the transaction, the chief operating officer now directly owns 13,625 shares in the company, valued at $190,750. The disclosure for this sale can be found here. 42.11% of the stock is currently owned by corporate insiders.

About Butterfly Network

Butterfly Network, Inc, a digital health company, 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; and Butterfly iQ+, a point-of-care ultrasound imaging device that connects with a smart phone or tablet.

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Institutional Ownership by Quarter for Butterfly Network (NASDAQ:BFLY)

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