Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTSeena Hassouna, The Motley FoolSun, July 5, 2026 at 2:44 PM GMT+2 5 min readOn June 5 and June 8, 2026, Butterfly Network (NYSE:BFLY) Chief Business Officer Steve Cashman disclosed the direct sale of 399,461 shares of Common Stock via open-market transactions for a total of approximately $1.89 million, according to a SEC Form 4 filing.Transaction summaryMetricValueShares sold (direct)399,461Transaction value~$1.9 millionPost-transaction shares (direct)1,630,407Post-transaction value (direct ownership)~$7.8 millionTransaction value based on SEC Form 4 weighted average purchase price ($4.74); post-transaction value based on June 8, 2026 market close ($4.78).Key questionsHow does the size of this transaction compare to Cashman's past open-market sales?The 399,461 shares sold in this event mark Cashman's largest single open-market sale to date, with the previous maximum being 250,000 shares sold on Feb. 26, 2026; this latest sale exceeds the average sale size (217,274 shares) across his six historical sell transactions.What proportion of his direct Common Stock holdings did Cashman sell, and what remains?The sale represented 19.68% of his direct holdings before the transactions, leaving him with 1,630,407 directly held shares of Common Stock post-transaction.Were any indirect holdings or derivative securities involved in this sale?No; all shares sold were held directly by Cashman, with no indirect (e.g., trust or LLC) or derivative (e.g., option exercise) participation in this transaction.Does Cashman maintain a material position after this transaction?Yes; in addition to the 1,630,407 directly held Common Stock shares, he retains 3,555,494 Class A Common Stock shares, which may be converted to Common Stock if liquidity or governance needs arise.Company overviewMetricValuePrice (as of market close July 2, 2026)$7.68Market capitalization$2 billionRevenue (TTM)$102.9 million1-year price change291.8%* 1-year performance calculated using July 2, 2026 as the reference date.Company snapshotButterfly Network's product portfolio includes portable ultrasound devices (Butterfly iQ, Butterfly iQ+), a system-wide ultrasound platform (Butterfly Blueprint), and cloud-based software for imaging, teleguidance, and clinical education.Its revenue is generated through hardware sales, software subscriptions, and service offerings, delivered via direct sales, distributors, and e-commerce channels.The company's primary customers are healthcare systems, individual physicians, and medical professionals in both domestic and international markets.Butterfly Network leverages proprietary ultrasound-on-chip technology to deliver portable, connected imaging solutions for the healthcare sector. The company's integrated approach—combining hardware, software, and cloud-based services—enables scalable deployment of point-of-care imaging across diverse clinical environments. Butterfly Network's focus on accessibility and interoperability positions it as a disruptive force in the medical devices industry.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info