Butterfly Network's CEO Still Holds $51.3 Million in Stock After a 260% Run
Key Points
The executive sold nearly 212,000 shares for about $1.4 million on July 20, 2026.
This disposition represented 3% of the reporting person's direct equity holdings.
The transaction was non-discretionary, executed to satisfy tax withholding obligations associated with the vesting of restricted stock units.
Joseph Devivo maintains a substantial long-term position with about 7.7 million shares held directly after the transaction.
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Joseph Devivo, the president and CEO of Butterfly Network, Inc. (NYSE:BFLY), sold nearly 212,000 shares of Class A Common Stock on July 20, 2026, according to a recent SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Transaction value | $1.4 million |
| Shares sold (directly held) | 211,798 |
| Post-transaction shares (directly held) | 7,672,046 |
| Post-transaction value | $51.33 million |
Transaction value based on SEC Form 4 weighted average sale price ($6.56); post-transaction value based on July 20, 2026 market close ($6.69).
Key questions
- What motivated this disposition of Class A Common Stock?
The transaction was non-discretionary and initiated automatically to cover tax withholding obligations associated with the vesting of restricted stock units. This is a common mechanism for executives to manage the tax liability of equity-based compensation and does not reflect a change in the executive's investment thesis regarding the company. - How does this transaction affect Joseph Devivo's overall equity stake?
Following this transaction, the President & CEO continues to hold 7,672,046 shares directly. This holding represents a market value of $51.33 million based on the July 20, 2026 market close, suggesting the executive remains heavily aligned with shareholder interests. - What is the current market context for the stock?
Shares of the Burlington-based medical device company have seen a one-year return of 260% as of the July 20, 2026 transaction date. The firm currently has a market capitalization of $1.8 billion and reported trailing-twelve-month revenue of $102.9 million.
Company Overview
| Metric | Value |
|---|---|
| Share Price (as of market close 2026-07-20) | $6.69 |
| Market Capitalization | $1.80 billion |
| Revenue (TTM) | $102.90 million |
| Net Income (TTM) | -$75.80 million |
Company Snapshot
- Butterfly Network designs, manufactures, and commercializes portable ultrasound imaging devices, including the Butterfly iQ and Butterfly iQ+, which enable point-of-care whole-body ultrasound imaging capabilities through smartphone and tablet connectivity.
- The company generates revenue through direct sales of its proprietary ultrasound systems and related software platforms to healthcare providers, hospitals, and clinical settings globally, leveraging a digital-first approach to medical imaging.
- The company primarily serves healthcare institutions, emergency departments, intensive care units, and point-of-care clinical environments seeking portable, cost-effective ultrasound solutions for diagnostic imaging applications.
Butterfly Network is a digital health enterprise headquartered in Burlington, operating within the medical devices sector. The company has demonstrated significant market momentum, with its stock appreciating 260% over the past year, reflecting investor confidence in its innovative ultrasound technology platform. Despite current operating losses, Butterfly Network is positioned as a disruptive player in portable medical imaging, targeting the substantial global ultrasound market with accessible, smartphone-integrated diagnostic solutions.
What this transaction means for investors
DeVivo's remaining stake (nearly 7.7 million shares, worth about $51.3 million) is clearly substantial, and set against that, roughly 212,000 shares leaving to satisfy a tax bill on vested stock looks somewhat negligible. It also means his personal wealth has ridden the same 260% climb shareholders enjoyed this past year, and remains overwhelmingly exposed to what happens next.
And on that front, alongside its core probe sales, which grew 5% with a richer mix of iQ3 devices lifting average selling prices 11%, Butterfly is building a licensing arm called Embedded and a home care operation. More than 40 companies are engaged on the licensing side, the firm said on its latest earnings call. CFO John Doherty pointed to "revenue attainment that was above consensus" in the quarter, with second-quarter revenue guided to $27 million to $31 million. Those two newer engines will be important to keep an eye on. With shares soaring as much as they have, it seems fair for investors to crave more than 5% growth, and the licensing pipeline and home care launch give the firm the opportunity to deliver on that front.
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Jonathan Ponciano 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.
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