The concentrated and accelerating insider selling, particularly by the CEO and a large director, is a strong bearish signal. Traders should monitor for any negative news or guidance revisions that may have prompted these sales. The stock's recent run-up to ~$10 may be at risk of a pullback given the insider exodus.
Price Chart
Executive Summary
A cluster of insider selling at Butterfly Network (BFLY) shows three insiders, including the CEO and a director, selling a total of ~$2.84M in open-market transactions over a one-week period. Director Larry Robbins alone sold over $20.6M in the last 7 days, dwarfing the cluster's total and signaling a significant reduction in insider exposure. While the company has a strong analyst consensus (91% bullish), the concentrated selling by top insiders warrants caution, especially given the stock's recent high valuation near $10.
Key Financial Metrics
Key Facts
- Three insiders sold a total of ~$2.84M in open-market transactions from Aug 6-13, 2026.
- Director Larry Robbins sold an additional $20.6M in the last 7 days, bringing his total recent sales to over $23.4M.
- CEO Joseph DeVivo sold 68.3K shares at $10.01 for ~$684K.
- Deputy General Counsel Nicholas Caezza sold 10K shares at $9.75 for ~$98K.
- Total insider selling over the past 30 days is $35.9M, representing ~1.5% of the $2.4B market cap.
- The cluster is not 10b5-1 pattern-based; sales are concentrated and accelerating.
- Analyst consensus is 91% bullish (3 Strong Buy, 7 Buy, 1 Hold), but insider actions contradict this optimism.
Financial Impact
Insider selling of ~$2.84M in the cluster, plus $20.6M from Robbins in the last 7 days, totals ~$23.4M. This is ~1.0% of the $2.4B market cap, which is a material signal.
Risk Factors
- Insider selling could indicate upcoming negative news or a peak in the stock price.
- The stock may face selling pressure as the market digests the scale of insider sales.
- The bullish analyst consensus may be overly optimistic if insiders are reducing exposure.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-BFLY-1787007754606 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | 3 | $7.25 $7.47 | ▲ +3.03% | ▲ +2.61% | $6.66 (−8.14%) |
Oct 6, 2026 20d ago | 144 | $8.70 $8.27 | ▼ −4.94% | ▼ −4.70% | $6.66 (−23.45%) |
Oct 5, 2026 21d ago | 8-K | $9.38 $8.70 | ▼ −7.25% | ▼ −7.80% | $6.66 (−29.00%) |
Sep 23, 2026 4w ago | 144 | $9.41 $9.39 | ▼ −0.21% | ▼ −0.76% | $6.66 (−29.22%) |
Sep 22, 2026 4w ago | 144 | $9.20 $9.41 | ▲ +2.28% | ▲ +2.36% | $6.66 (−27.61%) |
Sep 9, 2026 6w ago | Insider Cluster | $7.12 $7.33 | ▲ +2.95% | ▲ +2.10% | $6.66 (−6.46%) |
Aug 17, 2026 10w ago | Insider Cluster | $9.00 $9.17 | ▼ −1.89% | ▼ −1.68% | $6.66 (+26.00%) |
Aug 17, 2026 10w ago | Insider Cluster | $9.00 $9.17 | ▼ −1.89% | ▼ −1.68% | $6.66 (+26.00%) |
Aug 15, 2026 10w ago | Institutional Cluster | $9.02 $9.00 | ▼ −0.22% | ▲ +0.45% | $6.66 (−26.16%) |
Aug 12, 2026 10w ago | Insider Cluster | $8.86 $8.84 | ▼ −0.23% | ▼ −0.03% | $6.66 (−24.83%) |
US Market Status
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