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.
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
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
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-1781040075474 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 12d ago | 3 | $7.25 $7.47 | ▲ +3.03% | ▲ +2.61% | $7.38 (+1.79%) |
Oct 6, 2026 21d ago | 144 | $8.70 $8.27 | ▼ −4.94% | ▼ −4.70% | $7.38 (−15.17%) |
Oct 5, 2026 22d ago | 8-K | $9.38 $8.70 | ▼ −7.25% | ▼ −7.80% | $7.38 (−21.32%) |
Sep 23, 2026 4w ago | 144 | $9.41 $9.39 | ▼ −0.21% | ▼ −0.76% | $7.38 (−21.57%) |
Sep 22, 2026 5w ago | 144 | $9.20 $9.41 | ▲ +2.28% | ▲ +2.36% | $7.38 (−19.78%) |
Sep 9, 2026 6w ago | Insider Cluster | $7.12 $7.33 | ▲ +2.95% | ▲ +2.10% | $7.38 (+3.65%) |
Aug 17, 2026 10w ago | Insider Cluster | $9.00 $9.17 | ▼ −1.89% | ▼ −1.68% | $7.38 (+18.00%) |
Aug 17, 2026 10w ago | Insider Cluster | $9.00 $9.17 | ▼ −1.89% | ▼ −1.68% | $7.38 (+18.00%) |
Aug 15, 2026 10w ago | Institutional Cluster | $9.02 $9.00 | ▼ −0.22% | ▲ +0.45% | $7.38 (−18.18%) |
Aug 12, 2026 10w ago | Insider Cluster | $8.86 $8.84 | ▼ −0.23% | ▼ −0.03% | $7.38 (−16.70%) |
US Market Status
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