Jonathan M. Rothberg, a director and ten percent owner of Butterfly Network, Inc. (NYSE:BFLY), sold a total of 4,013,452 shares of company stock over three days in mid-July, amounting to approximately $29.4 million. These transactions were executed through a Rule 10b5-1 trading plan, which was adopted by Dr. Rothberg on March 13, 2026, for estate planning purposes. The sales come as BFLY shares have surged 279% over the past year and 84% year-to-date, though the stock has declined 12% over the past week. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value, placing it among the most overvalued stocks tracked by the platform.
On July 14, 2026, Dr. Rothberg sold 815,632 shares of Class A Common Stock. The shares were sold at a weighted average price of $7.7178 per share, with individual sale prices ranging from $7.545 to $8.00.
The following day, July 15, 2026, he disposed of an additional 1,730,319 shares of Class A Common Stock. These shares were sold at a weighted average price of $7.3228 per share, with prices ranging from $7.0873 to $7.83.
On July 16, 2026, Dr. Rothberg completed two separate sales. He directly sold 253,867 shares of Class A Common Stock at a weighted average price of $7.0889 per share, with prices for these sales ranging from $6.845 to $7.45. Additionally, an indirect sale of 1,213,634 shares of Class B Common Stock was reported. In accordance with its terms, the Class B common stock automatically converted into Class A common stock, on a one-to-one basis, upon sale. These shares were sold at a weighted average price of $7.0889, with prices ranging from $6.845 to $7.45. This indirect transaction was conducted through JNR TR, LLC, an entity for which Dr. Rothberg serves as Manager.
The total value of these sales, which occurred at weighted average prices between $7.0889 and $7.7178, collectively reached $29,368,632. The stock closed at $7.01 following these transactions, giving Butterfly Network a market capitalization of $1.84 billion. InvestingPro Tips highlight that BFLY’s stock movements are quite volatile, with a beta of 2.05, and that shares have taken a big hit over the last week. Investors seeking deeper insights can access 11 additional ProTips and comprehensive analysis through the platform’s Pro Research Report, available for BFLY and over 1,400 other US equities.
Following these transactions, Dr. Rothberg directly holds 105,881 shares of Class A Common Stock. He also maintains significant indirect holdings through various entities and his spouse. These include 36,366 shares of Class B Common Stock through JNR TR, LLC; 726,696 shares of Class A Common Stock held by Bonnie E Gould Rothberg MD (Dr. Rothberg’s spouse); and substantial Class B Common Stock holdings through 4C Holdings I, LLC, 4C Holdings II, LLC, 4C Holdings III, LLC, 4C Holdings IV, LLC, 4C Holdings V, LLC, NVR TR, LLC, GBR TR, LLC, and EJR TR, LLC. Dr. Rothberg disclaims beneficial ownership of these indirectly held securities except to the extent of his pecuniary interest therein.
In other recent news, Butterfly Network, Inc. reported its Q1 2026 earnings, surpassing analyst expectations with an earnings per share (EPS) of -$0.03, compared to the forecasted -$0.04. The company’s revenue also exceeded projections, reaching $26.5 million against the anticipated $25.74 million. Additionally, Butterfly Network announced the commercial availability of its Butterfly iQ+ and iQ3 handheld ultrasound devices in Brazil, the largest medical device market in Latin America. The company also disclosed that Midjourney’s full-body imaging scanner incorporates 40 of its Ultrasound-on-Chip imaging modules per system under a co-development agreement. Future generations of the scanner are expected to utilize more imaging modules. Furthermore, Butterfly Network appointed Caroll H. Neubauer, former CEO of B. Braun USA, to its Board of Directors. Neubauer will serve on the Board’s Compensation and Technology Committees. These developments are part of Butterfly Network’s recent strategic moves.
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