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

Butterfly Network, Inc. (NYSE:BFLY) CEO Joseph Devivo sold 211,798 shares of the business’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $6.56, for a total transaction of $1,389,394.88. Following the completion of the transaction, the chief executive officer owned 7,672,046 shares in the company, valued at approximately $50,328,621.76. This trade represents a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 stock was sold at an average price of $7.87, for a total transaction of $1,611,185.75.

Butterfly Network Trading Down 0.2%

NYSE:BFLY opened at $7.16 on Thursday. Butterfly Network, Inc. has a 1 year low of $1.32 and a 1 year high of $9.69. The firm has a 50 day moving average of $6.53 and a 200-day moving average of $4.96. The stock has a market capitalization of $1.82 billion, a P/E ratio of -23.85 and a beta of 2.05.

Butterfly Network (NYSE:BFLY) last announced its earnings results 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 the consensus estimate of $26.08 million. Butterfly Network had a negative return on equity of 34.41% and a negative net margin of 73.63%. As a group, analysts forecast that Butterfly Network, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Butterfly Network in a 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Butterfly Network currently has an average rating of “Hold” and a consensus price target of $5.56.

Key Stories Impacting Butterfly Network

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

• Positive Sentiment: Investor attention is focused on Butterfly Network’s upcoming second-quarter results. Analysts expect revenue to rise 21.5%, supported by demand for the iQ3 ultrasound system, wider adoption of Compass AI and growth in the Embedded business. A strong report could support the recent rally. Can AI Momentum and Embedded Growth Lift BFLY’s Q2 Results?
• Neutral Sentiment: CEO Joseph DeVivo, EVP John Doherty and CTO Victor Ku collectively sold approximately 317,000 shares at $6.56 per share. The sales were made to cover tax-withholding obligations when equity awards vested, reducing their significance as a signal of weakening confidence; all three executives retain sizable holdings. SEC filing for executive transactions
• Neutral Sentiment: Institutional ownership stands at 37.85%. Recent activity included new positions and a significant increase by BNP Paribas Financial Markets, although the disclosed purchases were relatively small and provide limited evidence of a major change in institutional conviction.
• Negative Sentiment: Founder and Director Jonathan Rothberg sold about 3.8 million shares for roughly $25 million from July 17 through July 22 under a pre-arranged Rule 10b5-1 plan. While the sales were reportedly connected to estate planning, the sharp reduction in his direct ownership may concern investors and add potential overhang. Butterfly Network Founder Sells Shares
• Negative Sentiment: Valuation concerns remain: BFLY is still unprofitable, with analysts expecting a full-year loss, while the consensus rating is “Hold” and the $5.56 target price is below recent trading levels.

Hedge Funds Weigh In On Butterfly Network

A number of institutional investors have recently modified their holdings of BFLY. Invesco Ltd. bought a new stake in shares of Butterfly Network during the first quarter valued at approximately $85,000. Goldman Sachs Group Inc. raised its position in Butterfly Network by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 756,426 shares of the company’s stock worth $1,725,000 after purchasing an additional 29,958 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Butterfly Network by 9,055.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 92,017 shares of the company’s stock worth $184,000 after buying an additional 91,012 shares in the last quarter. Legal & General Group Plc lifted its holdings in Butterfly Network by 136.5% during the 2nd quarter. Legal & General Group Plc now owns 206,985 shares of the company’s stock worth $414,000 after buying an additional 119,455 shares in the last quarter. Finally, Rhumbline Advisers bought a new position in Butterfly Network in the 2nd quarter valued at $475,000. 37.85% of the stock is owned by institutional investors.

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.