Butterfly Network CEO Joseph Devivo Sells 68,346 Shares
Key Points
68,346 shares were sold for ~$684,143 on August 10, 2026.
The transaction represents a 0.89% reduction in direct equity holdings.
This disposition was executed directly under a Rule 10b5-1 trading plan established on December 12, 2025.
Activity reflects routine portfolio management following a period where the equity produced a 629% return over 12 months as of the transaction date.
Joseph Devivo, President & CEO of Butterfly Network (NYSE:BFLY), sold 68,346 shares of Class A Common Stock on Aug. 10, 2026, according to a SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Transaction value | ~$684,143 |
| Shares sold (directly held) | 68,346 |
| Post-transaction shares (directly held) | ~7.6 million |
| Post-transaction value | $74 million |
Transaction value based on SEC Form 4 weighted average sale price ($10.01); post-transaction value based on Aug. 10, 2026 market close ($9.70).
Key questions
- What governs the timing and execution of this sale?
The transaction was non-discretionary, occurring via a Rule 10b5-1 trading plan adopted by the CEO on Dec. 12, 2025, which allows insiders to schedule trades in advance to mitigate potential conflicts of interest. - How does this sale impact the executive's total equity position?
Joseph Devivo retains direct ownership of ~7.6 million shares in the company, representing a total market value of approximately $74 million as of the Aug. 10, 2026, close. - What was the market performance context for this transaction?
Butterfly Network shares were priced at $9.37 as of the Aug. 11, 2026 market close, having achieved a 629% return during the 12 months ending on the transaction date. - What are the current financial fundamentals of the organization?
The Burlington-based medical device enterprise reported trailing-twelve-month revenue of $112 million and a net loss of $75 million, maintaining a market capitalization of $2.3 billion as of the latest data.
Company Overview
| Metric | Value |
|---|---|
| Share Price (as of market close 2026-08-11) | $9.37 |
| Market Capitalization | $2.3 billion |
| Revenue (TTM) | $112 million |
| Net Income (TTM) | -$75 million |
Company Snapshot
- Butterfly Network designs, manufactures, and commercializes portable ultrasound imaging devices, including the Butterfly iQ and Butterfly iQ+, that enable point-of-care whole-body ultrasound imaging accessible via smartphone and tablet connectivity.
- The company generates revenue through direct sales of its proprietary ultrasound hardware and software platforms, leveraging a digital health model that extends imaging capabilities to non-traditional healthcare settings and enables remote diagnostic capabilities.
- The company serves healthcare providers, hospitals, clinics, and point-of-care facilities globally, targeting markets where portable, cost-effective ultrasound imaging can improve diagnostic accessibility and clinical outcomes.
Butterfly Network operates as a digital health enterprise focused on democratizing ultrasound imaging through innovative portable technology. With a market capitalization of $2.3 billion and TTM revenues of $112 million, the company is scaling its commercialization efforts across domestic and international markets.
The company's competitive advantage lies in its proprietary single-probe ultrasound architecture and seamless smartphone integration, positioning it to capture significant market share in the point-of-care ultrasound segment.
What this transaction means for investors
This sale shouldn’t concern investors. It represented a tiny percentage of the CEO’s overall stake in the company. Devivo’s holding is still significantly valued at around $74 million following the sale.
Additionally, it was completed under a pre-adopted Rule 10b5-1 plan. Executives often use this to execute transactions in their own stock without appearing to act on non-public information or on their view of valuation or business performance.
Importantly, the company’s TTM revenue grew 28% year over year, reflecting strong sales momentum with its technology. Management continues to shift resources to high-margin revenue streams, which could be beneficial in advancing toward profitability and growing earnings over time.
However, investors should expect the stock to be highly volatile as the business works toward improving its operating losses. Analysts expect continued losses for the foreseeable future.
John Ballard has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.