CEO Joseph DeVivo Unloads $1.39M in Butterfly Network Stock
BFLY has more than doubled off its 52-week low of $1.32.
Summary
Butterfly Network CEO Joseph DeVivo sold $1.39 million in company stock on July 20, adding to a wave of insider selling that includes the founder's $29.3 million sale last week.
Key Events · Ownership and Investor Activity · BFLY
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CEO Sells $1.39M in Open Market
President and CEO Joseph DeVivo sold 211,798 shares at $6.56 each, totaling $1,389,395, on July 20, 2026.
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Part of Broader Insider Selling Wave
This sale follows $6.4 million in open-market sales by five insiders over the past 90 days, including founder Jonathan Rothberg's $29.3 million sale disclosed on July 17.
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Sell-to-Cover for Tax Obligations
The filing notes the sale was automatic under a 'sell-to-cover' policy to satisfy tax withholding on vesting restricted stock units, not a discretionary trade.
Analysis · BFLY · Industrial Applications And Services
President and CEO Joseph DeVivo sold $1.39 million worth of shares at $6.56 each in an open-market transaction, not a routine tax withholding or option exercise. Although the sale represents a modest 0.078% of the company's market cap, it arrives amid a broader pattern of insider selling — five insiders have offloaded over $6.4 million in the past 90 days, including founder Jonathan Rothberg's $29.3 million sale last week. The CEO's move adds to the distribution signal, though a footnote indicates it was a 'sell-to-cover' for tax obligations on vesting restricted stock units, which somewhat tempers the conviction signal.
At the time of this filing, BFLY was trading at $6.83 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $1.8B. The 52-week trading range was $1.32 to $9.69. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.