Butterfly Network (NYSE:BFLY) CEO Joseph Devivo Sells 211,798 Shares of Stock

Butterfly Network, Inc. (NYSE:BFLY) CEO Joseph Devivo sold 211,798 shares of the stock in a transaction on Monday, July 20th. The stock was sold at an average price of $6.56, for a total value of $1,389,394.88. Following the completion of the transaction, the chief executive officer owned 7,672,046 shares of the company’s stock, valued at approximately $50,328,621.76. This trade represents a 2.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Joseph Devivo also recently made the following trade(s):

• On Tuesday, July 7th, Joseph Devivo sold 204,725 shares of Butterfly Network stock. The shares were sold at an average price of $7.87, for a total transaction of $1,611,185.75.

Butterfly Network Price Performance

Shares of Butterfly Network stock opened at $7.20 on Wednesday. The company has a 50-day moving average of $6.48 and a 200 day moving average of $4.94. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -24.01 and a beta of 2.05. Butterfly Network, Inc. has a 1 year low of $1.32 and a 1 year high of $9.69.

Butterfly Network (NYSE:BFLY) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business had revenue of $26.53 million for the quarter, compared to analyst estimates of $26.08 million. Butterfly Network had a negative net margin of 73.63% and a negative return on equity of 34.41%. On average, equities analysts anticipate that Butterfly Network, Inc. will post -0.18 EPS for the current year.

Key Headlines Impacting Butterfly Network

Here are the key news stories impacting Butterfly Network this week:

• Positive Sentiment: Investor focus is turning to Butterfly Network’s upcoming second-quarter results. Revenue is projected to increase 21.5%, supported by demand for the iQ3 ultrasound system, broader Compass AI adoption and growth in the company’s Embedded business. Strong execution in these areas could reinforce the stock’s recent rally. Can AI Momentum and Embedded Growth Lift BFLY’s Q2 Results?
• Neutral Sentiment: CEO Joseph DeVivo, EVP John N. Doherty and CTO Victor Ku collectively sold approximately 317,000 shares at about $6.56 per share. The transactions were made to cover tax-withholding obligations tied to vested equity awards, which makes them less indicative of a bearish view; the executives continue to hold substantial stakes. SEC filing for executive transactions
• Negative Sentiment: Founder and Director Jonathan Rothberg sold roughly 3.8 million shares for approximately $25.0 million between July 17 and July 22, substantially reducing his direct ownership. Although the sales were executed under a pre-arranged Rule 10b5-1 plan and described as related to estate planning, their size may create overhang and raise investor concerns about insider conviction after BFLY’s large one-year advance. Butterfly Network Founder Rothberg Sells Another 660,000 Shares

Institutional Trading of Butterfly Network

Several institutional investors have recently bought and sold shares of BFLY. Palumbo Wealth Management LLC lifted its stake in shares of Butterfly Network by 182.9% in the fourth quarter. Palumbo Wealth Management LLC now owns 413,317 shares of the company’s stock worth $1,571,000 after buying an additional 267,238 shares in the last quarter. Clough Capital Partners L P bought a new stake in shares of Butterfly Network during the fourth quarter valued at approximately $845,000. Counterpoint Mutual Funds LLC purchased a new position in Butterfly Network in the 1st quarter worth approximately $545,000. Keenan LLC purchased a new position in Butterfly Network in the 4th quarter worth approximately $339,000. Finally, DNB Asset Management AS lifted its position in Butterfly Network by 116.1% in the 4th quarter. DNB Asset Management AS now owns 780,335 shares of the company’s stock valued at $2,965,000 after acquiring an additional 419,197 shares in the last quarter. 37.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.56.

Butterfly Network Company Profile

Butterfly Network, Inc is a medical technology company focused on democratizing access to diagnostic imaging through its proprietary ultrasound-on-chip platform. The company’s flagship device, the Butterfly iQ, leverages semiconductor technology to deliver whole-body ultrasound imaging in a handheld form factor. This portable system connects to a compatible smart device, enabling point-of-care scanning across a variety of clinical settings.

Beyond its hardware offering, Butterfly Network provides a cloud-based software suite that supports image storage, analysis and remote collaboration.