Butterfly Network CEO Joseph Devivo Sells 68,346 Shares

Written by John Ballard for The Motley Fool

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 value based on SEC Form 4 weighted average sale price ($10.01); post-transaction value based on Aug. 10, 2026 market close ($9.70).

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.

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.

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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.