Daiwa Securities Group Inc. Sells 12,205 Shares of Butterfly Network, Inc. (NYSE:BFLY)

Daiwa Securities Group Inc. cut its holdings in shares of Butterfly Network, Inc. (NYSE:BFLY) by 39.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,611 shares of the company’s stock after selling 12,205 shares during the period. Daiwa Securities Group Inc.’s holdings in Butterfly Network were worth $58,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Oppenheimer & Co. Inc. lifted its position in Butterfly Network by 22.0% during the third quarter. Oppenheimer & Co. Inc. now owns 258,920 shares of the company’s stock valued at $458,000 after acquiring an additional 46,630 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Butterfly Network by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 955,331 shares of the company’s stock valued at $1,691,000 after acquiring an additional 35,800 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Butterfly Network during the third quarter valued at approximately $57,000. Kovitz Investment Group Partners LLC purchased a new stake in Butterfly Network during the third quarter valued at approximately $44,000. Finally, XTX Topco Ltd lifted 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 last quarter. 37.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, William Blair assumed coverage on shares of Butterfly Network in a research report on Monday. They set an “outperform” rating for the company.

Insiders Place Their Bets

In other Butterfly Network news, CFO Heather C. Getz sold 30,136 shares of the firm’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 $92,216.16. Following the completion of the transaction, the chief financial officer now owns 2,669,333 shares of the company’s stock, valued at approximately $8,168,158.98. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steve Cashman sold 164,079 shares of Butterfly Network 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 sale, the insider now directly 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. Corporate insiders own 27.28% of the company’s stock.

Butterfly Network Stock Up 0.9 %

NYSE:BFLY opened at $2.71 on Tuesday. Butterfly Network, Inc. has a 52 week low of $0.67 and a 52 week high of $4.98. The firm has a 50 day moving average of $3.78 and a 200 day moving average of $2.92. The stock has a market capitalization of $657.11 million, a price-to-earnings ratio of -5.88 and a beta of 2.48.

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.