SCHEDULE 13G/A: ARK Investment Management Discloses 4.66% Stake in Butterfly Network

ARK Investment Management LLC has filed an amended Schedule 13G, disclosing a 4.66% beneficial ownership stake in Butterfly Network, Inc. as of September 30, 2024.

Summary

• ARK Investment Management LLC reported beneficial ownership of 8,676,233 shares of Butterfly Network, Inc. Common Stock.
• This ownership represents 4.66% of the total class of securities.
• ARK Investment Management LLC holds sole voting power and sole dispositive power over all 8,676,233 shares.
• The filing is an Amendment No. 2 to a Schedule 13G, indicating an update to a previously reported beneficial ownership position.
• The event date requiring this filing was September 30, 2024.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing (Schedule 13G) disclosing beneficial ownership, which is inherently neutral in sentiment. It provides factual information without expressing positive or negative operational or financial performance.

Positives

• ARK Investment Management LLC, a prominent investment adviser, maintains a significant beneficial ownership stake in Butterfly Network, Inc., which may be viewed positively by other investors.

Negatives

• The beneficial ownership percentage of 4.66% is below the 5% threshold, meaning ARK Investment Management LLC is not classified as a 5% owner requiring more extensive reporting (e.g., Schedule 13D).

Future Outlook

NA

Management Comments

• "To the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing reflects the ongoing investment activities of ARK Investment Management LLC, a firm known for its focus on disruptive innovation, in the healthcare technology sector, specifically in Butterfly Network, Inc., which operates in the medical imaging and ultrasound device market.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake, which could influence investor sentiment and perception of the company's value.

Key Dates

Keywords

ARK Investment Management, Butterfly Network, BFLY, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, SEC Filing