Officer Steven Cashman Files Intent to Sell $520K in Shares, Continuing Insider Distribution
BFLY has more than doubled off its 52-week low of $1.32.
Summary
An officer at Butterfly Network has filed to sell over $520,000 worth of shares, continuing a pattern of insider selling that has seen over $1.7 million in dispositions by the same individual in the last three months.
Key Events · Ownership and Investor Activity · BFLY
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Officer Files Intent to Sell Shares
Officer Steven Cashman filed a Form 144 to sell 104,781 shares of Class A common stock, valued at approximately $520,173.67.
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Continuation of Insider Selling Pattern
This proposed sale follows Cashman's previous dispositions of 347,518 shares totaling $1,768,633.76 over the last three months, indicating an ongoing pattern of insider distribution.
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Shares from Compensation
The shares intended for sale were acquired through restricted stock vesting on April 28, 2026, suggesting the sale is related to compensation.
Analysis · BFLY · Industrial Applications And Services
Officer Steven Cashman has filed a Form 144 indicating intent to sell 104,781 shares of Class A common stock, valued at approximately $520,173. This proposed sale continues a pattern of insider distribution, as Cashman has already sold $1.76 million worth of shares over the past three months. The shares intended for sale were acquired through restricted stock vesting, suggesting compensation-related selling rather than open-market purchases, but the consistent selling by an officer is a notable negative signal.
At the time of this filing, BFLY was trading at $4.54 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $1.32 to $5.72. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.