BFLY Butterfly Network, Inc.
Price Chart
Executive Summary
Butterfly Network's Chief Business Officer Steve Cashman sold ~$1.9M in open-market sales over a 7-day window, including a $1.37M sale on June 8. The total insider selling of ~$1.9M represents ~0.16% of the $1.2B market cap — modest in proportionality terms. However, the cluster is entirely C-suite selling with no insider buying, and the sales are not routine 10b5-1 pattern (irregular sizes and dates). The cross-filing actuarial verdicts show strong amplification for insider-trades + press-context and insider-trades + offering-context, suggesting elevated signaling value.
Key Financial Metrics
Actionable Insight
The CBO's concentrated selling without any insider buying is a cautionary signal, especially given the stock's 91% analyst bullish consensus. Monitor for upcoming earnings or material news that could explain the timing. The cross-filing amplifiers suggest this cluster may carry more weight than standalone proportionality would imply — consider hedging or reducing position size until clarity emerges.
Key Facts
- Chief Business Officer Steve Cashman sold 399,461 shares total (~$1.89M) on June 5 and June 8 at $4.66-$4.96
- Deputy General Counsel Nicholas Caezza sold 1,700 shares (~$8K) on June 2 at $4.52
- Total insider selling of ~$1.9M equals ~0.16% of BFLY's $1.2B market cap
- No insider purchases in the cluster — net direction is entirely selling
- Sales are not uniform in size or timing, reducing likelihood of routine 10b5-1 plan
- Prior 30-day insider activity showed 3 sells totaling $1.9M, consistent with this cluster
Financial Impact
~$1.9M in insider selling, ~0.16% of market cap
Risk Factors
- Insider selling may indicate management's view that the stock is overvalued or that near-term catalysts are weak
- No insider buying to offset the selling signal
- Stock has high analyst bullish consensus (91% buy) — insider selling creates divergence between street sentiment and insider behavior
- Historical calibration shows score-6/7/8 reports on BFLY have negative net alpha at T+20, suggesting the stock tends to fade after insider signals
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-BFLY-1781040075474 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 11, 2026
2d ago
|
Institutional Cluster
| $5.39 awaiting T+20 | awaiting T+20 | — | $5.54 (+2.88%) |
|
Jun 9, 2026
3d ago
|
Insider Cluster
| $5.12 awaiting T+20 | awaiting T+20 | — | $5.54 (−8.20%) |
|
May 8, 2026
5w ago
|
8-K
| $4.16 $4.57 | ▲ +9.86% | ▲ +9.83% | $5.54 (+33.17%) |
|
Apr 27, 2026
6w ago
|
DEFA14A
| $5.16 $4.54 | ▼ −12.02% | ▼ −17.48% | $5.54 (+7.36%) |
|
Mar 3, 2026
14w ago
|
Insider Cluster
| $3.68 $4.04 | ▼ −9.78% | ▼ −14.19% | $5.54 (−50.54%) |
|
Feb 26, 2026
15w ago
|
Insider Cluster
| $4.67 $4.15 | ▲ +11.13% | ▲ +4.73% | $5.54 (−18.63%) |
|
Feb 26, 2026
15w ago
|
8-K
| $4.67 $4.15 | ▼ −11.13% | ▼ −4.73% | $5.54 (+18.63%) |
US Market Status
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