Butterfly Network Director Louise Phanstiel Increases Stake with $1 Million Share Purchase

Key Points

• Louise S. Phanstiel acquired approximately 115,000 shares at $8.68 per share, for a total transaction value of about $1.0 million.

• The purchase increased her direct equity holdings by 20% and her indirect holdings by 62%.

• The shares were bought indirectly through The Phanstiel Trust (dated 2/5/02); she continues to hold roughly 391,000 shares directly.

• This follows a period of strong stock performance, delivering a 527% return over the one‑year period ending August 14, 2026.

Director Louise S. Phanstiel purchased 115,200 shares of Butterfly Network, Inc. (NYSE:BFLY) in an indirect transaction on August 14, 2026, as reported on SEC Form 4.

Transaction summary

Transaction value: $1.0 million
Shares purchased: 115,200
Post‑transaction shares (total): 691,413
Post‑transaction shares (directly held): 390,952
Post‑transaction shares (indirectly held): 300,461
Post‑transaction value: $6.11 million
Transaction value based on SEC Form 4 weighted‑average purchase price ($8.68); post‑transaction value based on the August 14, 2026 market close ($8.84).

Key questions

• What are the specific execution details of this purchase?
  The trade was executed at a weighted‑average price of $8.68 per share, with individual prices ranging from $8.49 to $8.865. All shares in this filing were acquired for the Phanstiel Trust, an entity that now holds roughly 43% of the director’s total equity stake.
• How does this move impact the insider’s overall alignment with shareholders?
  By increasing her total position to 691,413 shares, Louise S. Phanstiel’s beneficial ownership represents about 0.26% of the company. The purchase substantially expands the trust‑held portion of her portfolio while maintaining a separate direct holding of approximately 391,000 shares.
• What is the company’s current financial profile and scale?
  Butterfly Network reports a market capitalization of $2.4 billion as of the August 14, 2026 market close. Trailing twelve‑month revenue is $112.1 million, with a net loss of $74.8 million over the same period.

Company Overview

Share price (market close Aug 14, 2026): $8.84
Market capitalization: $2.4 billion
Trailing twelve‑month revenue: $112.1 million
Net income (TTM): –$74.8 million

Company Snapshot

• Butterfly Network designs, manufactures, and globally commercializes advanced ultrasound imaging technologies. Its core offerings include the portable Butterfly iQ single‑probe system for whole‑body ultrasound and the Butterfly iQ+, a point‑of‑care device with smartphone and tablet connectivity.
• The company uses a direct‑to‑customer and institutional sales model, generating revenue from proprietary ultrasound devices and associated software platforms that enable point‑of‑care diagnostics in clinical and non‑clinical settings.
• Its primary customers are hospitals, clinics, emergency departments, and individual healthcare professionals worldwide, with a strategic focus on expanding portable ultrasound access in underserved and emerging markets.

Butterfly Network is a digital health enterprise with a market capitalization of $2.4 billion, headquartered in Burlington, Massachusetts, and employing roughly 220 people. Trailing twelve‑month revenue reaches $112.1 million, though the company remains net‑negative as it scales commercialization. Its competitive edge lies in proprietary semiconductor‑based ultrasound technology, which delivers unprecedented portability and ease of use, positioning it to gain share in the global point‑of‑care ultrasound market.

What this transaction means for investors

Phanstiel serves as chair of the board of Myriad Genetics and has been a board member since September 2009. She also held several executive roles at Anthem, Inc. from 1996 to 2007, giving her deep healthcare expertise.

Insiders typically sell shares for personal cash needs, diversification, or a pessimistic outlook. The sole motive for an insider purchase is confidence in future price appreciation. By this logic, Phanstiel’s purchase signals bullish sentiment. Her sector expertise reinforces that view, and studies show insider buying often precedes higher share prices within 30 days.

Beyond insider activity, other bullish indicators exist. Wall Street analysts forecast Butterfly Network’s revenue to rise 19% in the current fiscal year to about $97.1 million, trimming the net loss by roughly one‑third. By 2028, analysts expect revenue to double relative to 2026 levels, with a substantially lower deficit.

While an insider purchase alone is not a guaranteed buy signal, it suggests investors examine the company’s positive fundamentals.

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