BFLY
INSIDER BUYINSIDER SELLButterfly Network, Inc.
Research: Finviz ↗·Perplexity ↗
No convergence signal this quarter — shown because tracked funds have filed 13D/G on this stock.
News Summary
PositiveButterfly Network delivered a strong Q2 2026 earnings beat with narrowing losses and raised full-year guidance to $119M–$123M, coupled with new analyst coverage (Evercore ISI Outperform, $15 PT) and significant partnership wins including a potential $74M Midjourney Medical deal and Brazilian market entry. However, founder Jonathan Rothberg executed substantial pre-planned share sales (~660K shares) coinciding with the stock's 527% one-year surge, raising questions about valuation timing despite the operational improvements.
Red flags
- •Founder selling ~660K shares on July 22, 2026 via pre-arranged plan at elevated valuations (stock up 527% YTD)
- •CFO insider selling activity on July 20, 2026 (though non-discretionary tax-withholding driven)
- •Stock valuation at extreme levels (260% YTD, 527% annually) relative to near-term profitability trajectory
- •Q3 revenue guidance midpoint ($28M) appears conservative vs. consensus ($28.56M), suggesting potential caution
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| DEVIVO JOSEPH | President & CEO | SELL | 3K | $10.02 | $0.03M | 2026-09-23 | ↗ |
| DEVIVO JOSEPH | President & CEO | SELL | 3K | $10.00 | $0.03M | 2026-09-22 | ↗ |
| Cashman Steve | Chief Business Officer | SELL | 140K | $7.30 | $1.02M | 2026-09-04 | ↗ |
| Carlson Megan | CAO and SVP, Finance | SELL | 14K | $7.30 | $0.10M | 2026-09-04 | ↗ |
| Caezza Nicholas | Deputy General Counsel | SELL | 2K | $8.15 | $0.01M | 2026-09-02 | ↗ |
| ROBBINS LARRY | — | SELL | 583K | $8.97 | $5.23M | 2026-08-17 | ↗ |
| ROBBINS LARRY | — | SELL | 825K | $8.70 | $7.17M | 2026-08-14 | ↗ |
| Phanstiel S. Louise | — | BUY | 115K | $8.68 | $1.00M | 2026-08-14 | ↗ |
| ROBBINS LARRY | — | SELL | 500K | $9.24 | $4.62M | 2026-08-13 | ↗ |
| ROBBINS LARRY | — | SELL | 215K | $9.54 | $2.05M | 2026-08-13 | ↗ |
| ROBBINS LARRY | — | SELL | 175K | $8.86 | $1.55M | 2026-08-13 | ↗ |
| Caezza Nicholas | Deputy General Counsel | SELL | 10K | $9.75 | $0.10M | 2026-08-11 | ↗ |
| DEVIVO JOSEPH | President & CEO | SELL | 68K | $10.01 | $0.68M | 2026-08-10 | ↗ |
| ROBBINS LARRY | — | SELL | 156K | $8.10 | $1.27M | 2026-08-03 | ↗ |
| Carlson Megan | CAO and SVP, Finance | SELL | 69K | $7.86 | $0.54M | 2026-07-31 | ↗ |
| ROBBINS LARRY | — | SELL | 1.7M | $7.39 | $12.72M | 2026-07-31 | ↗ |
| ROTHBERG JONATHAN M | — | SELL | 73K | $6.47 | $0.47M | 2026-07-22 | ↗ |
| ROTHBERG JONATHAN M | — | SELL | 54K | $6.47 | $0.35M | 2026-07-22 | ↗ |
| ROTHBERG JONATHAN M | — | SELL | 497K | $6.47 | $3.21M | 2026-07-22 | ↗ |
| ROTHBERG JONATHAN M | — | SELL | 36K | $6.47 | $0.24M | 2026-07-22 | ↗ |
| ROTHBERG JONATHAN M | — | SELL | 753K | $6.74 | $5.07M | 2026-07-21 | ↗ |
| DEVIVO JOSEPH | President & CEO | SELL | 212K | $6.56 | $1.39M | 2026-07-20 | ↗ |
| ROTHBERG JONATHAN M | — | SELL | 1.2M | $6.61 | $7.79M | 2026-07-20 | ↗ |
| Ku Victor | Chief Technology Officer | SELL | 49K | $6.56 | $0.32M | 2026-07-20 | ↗ |
| Doherty John N. | EVP, CFO | SELL | 57K | $6.56 | $0.37M | 2026-07-20 | ↗ |
| ROTHBERG JONATHAN M | — | SELL | 1.2M | $6.60 | $7.89M | 2026-07-17 | ↗ |
| ROTHBERG JONATHAN M | — | SELL | 1.2M | $7.09 | $8.60M | 2026-07-16 | ↗ |
| ROTHBERG JONATHAN M | — | SELL | 254K | $7.09 | $1.80M | 2026-07-16 | ↗ |
| ROTHBERG JONATHAN M | — | SELL | 1.7M | $7.32 | $12.67M | 2026-07-15 | ↗ |
| ROTHBERG JONATHAN M | — | SELL | 816K | $7.72 | $6.29M | 2026-07-14 | ↗ |
| Ku Victor | Chief Technology Officer | SELL | 36K | $7.87 | $0.28M | 2026-07-07 | ↗ |
| Doherty John N. | EVP, CFO | SELL | 55K | $7.87 | $0.43M | 2026-07-07 | ↗ |
| DEVIVO JOSEPH | President & CEO | SELL | 205K | $7.87 | $1.61M | 2026-07-07 | ↗ |
| Carlson Megan | CAO and SVP, Finance | SELL | 41K | $7.96 | $0.33M | 2026-07-02 | ↗ |
Fund 13D/13G Filings (2)
Tracked funds' beneficial-ownership filings on this stock — disclosed within days of a position change, fresher than the quarterly 13F. Since Filing compares the stock to SPY from the filing date (shown for filings within the last 90 days).
| Fund | Form | ∆ Shares | % of Class | Since Filing | Filed | Src |
|---|---|---|---|---|---|---|
| Glenview Capital | SC 13D/A | — | 6.2% | +3.5% vs SPY +4.0% abs | 2026-08-17 | ↗ |
| Glenview Capital | SC 13D/A | — | 8.5% | — | 2026-02-17 | ↗ |
Tracked Funds Holding (1)
| Fund | Manager | Shares Held | Position Value |
|---|---|---|---|
| Glenview Capital | Larry Robbins | 14.3M | $121M |
Quarter-end 13F positions for the tracked funds holding this stock.