Glenview Capital Drops Below 5% Stake in Butterfly Network
BFLY has more than doubled off its 52-week low of $1.34.
Summary
Glenview Capital Management's stake in Butterfly Network fell below 5% after selling over 4.1 million shares, adding to a wave of insider selling.
Key Events · Ownership and Investor Activity · BFLY
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Glenview Drops Below 5%
As of August 13, 2026, Glenview Capital Management, LLC no longer holds a beneficial ownership stake exceeding five percent of Butterfly Network's Class A common stock.
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4.1M Shares Sold
Between July 31 and August 17, 2026, Glenview funds and Longview Investors LLC sold a combined 4,174,025 shares at prices ranging from $7.2282 to $9.575 per share.
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Robbins' Stake Now 6.17%
Larry Robbins, who controls Glenview, now beneficially owns 15,120,314 shares (6.17% of class), including 11,743,530 shares held by Glenview Funds and 2,964,187 shares held by Longview Investors LLC.
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Insider Selling Wave Continues
This filing follows significant sales by founder Jonathan Rothberg ($34.4M in July) and CEO Joseph DeVivo ($1.39M on July 20), indicating sustained distribution pressure.
Analysis · BFLY · Industrial Applications And Services
A major institutional holder, Glenview Capital Management, has cut its stake below the 5% reporting threshold, offloading more than 4.1 million shares in recent weeks. This adds to a pattern of significant insider and institutional selling at Butterfly Network, with founder Jonathan Rothberg and CEO Joseph DeVivo also selling large blocks in July. The sales come despite strong Q2 results, suggesting ongoing distribution pressure on the stock.
How filings like this one have moved
In the 30 days to Aug 24, 2026, 29.4% of the 2796 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.03%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BFLY was trading at $9.30 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2.4B. The 52-week trading range was $1.34 to $10.05. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.