Officer Steven Cashman Files Intent to Sell $865K in BFLY Shares
BFLY has more than doubled off its 52-week low of $1.32.
Summary
An officer at Butterfly Network has filed a Form 144 to sell approximately $865,000 worth of shares, continuing a pattern of insider selling that has seen over $2.29 million in net insider distribution over the past 90 days.
Key Events · Ownership and Investor Activity · BFLY
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Officer Files Intent to Sell
Steven Cashman, an officer at Butterfly Network, has filed a Form 144 indicating an intent to sell 184,680 shares of Class A common stock.
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Value of Proposed Sale
The proposed sale has an approximate market value of $865,447.77, based on the current stock price.
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Continuation of Selling Pattern
This filing follows previous sales by Steven Cashman, who sold 452,299 shares for $2,288,807.43 in the past three months. Overall, the company has seen a net insider distribution of over $2.29 million in the last 90 days.
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Shares Acquired Through Vesting
The shares intended for sale were acquired through restricted stock vesting on March 1, 2026, and April 28, 2026.
Analysis · BFLY · Industrial Applications And Services
This Form 144 indicates an officer's intent to sell a substantial amount of shares, adding to a recent pattern of insider selling at Butterfly Network. While the shares were acquired through vesting, the consistent disposition by an officer could be interpreted as a move to monetize compensation or a lack of conviction. This continued selling is noteworthy, especially following recent positive news regarding FDA clearance and strong Q1 results.
At the time of this filing, BFLY was trading at $4.73 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.