Director Jonathan Rothberg sold $29.4M in BFLY shares at $7.32, liquidating 99.1% of his directly held stake. This is a definitive exit by a long-time seller, but it follows nine prior sales and lacks any counter-signal from other insiders buying.

Where it could go — Our 5-6 conviction sells have beaten SPY at 30d 49% of the time; watch $5.60 as the bear break, $9.69 as the bull trigger.

CEO Joseph DeVivo sold $1.6M at $7.87, reducing his directly held shares by 2.5% from a price 18.8% below the 90-day high. This sale continues a pattern of consistent insider selling, with the CEO having sold $1.8M and $599K just four months prior, which contrasts sharply with the analyst consensus of 10 BUY ratings. Bear: a break below the recent $4.60 low could accelerate selling pressure, especially with earnings in 23 days.

Where it could go — Our 5-6 conviction officer sells: 52% beat SPY at 30d; bear breaks $4.60.

CFO John Doherty sold $435K worth of shares, reducing his directly held stake by 3.7% at a price 18.8% below the 90-day high. This trade follows a $240K sale in January, establishing a pattern of selling that contrasts with the analyst consensus of Strong Buy.

Where it could go — Our 5-6 conviction officer sells: 52% beat SPY at 30d; bear case if stock breaks the 90-day low of $3.76.

CTO Victor Ku sold $281K worth of shares, reducing his directly held stake by 3.2% at a price 19% below the 90-day high. This sale follows a $1.9M sale by another officer last month, creating a bearish cluster of selling despite a STRONG BUY analyst rating.

Where it could go — Our 1-4 conviction officer sells have beaten SPY 59% of the time at 30d; bear case if stock breaks the 30d low of $4.60.

CAO Carlson sold $329K of BFLY at $7.96, reducing her direct stake by 8.1% in her fourth consecutive sell transaction. This pattern of consistent selling by a finance officer suggests ongoing diversification despite the stock trading well above its recent lows and strong analyst support.

Where it could go — Our 5-6 conviction officer sells: 52% beat SPY at 30d (n=1197, avg +4.3% vs SPY); watch $7.50 as support break level.

Chief Business Officer Cashman Steve sold $1.9M worth of shares at $4.74, reducing his stake by 19.7% from a position 17.1% below the 90-day high. This sale is significant for its size but follows a clear pattern of regular selling, with six prior sales in the last year, indicating it is more likely routine portfolio management than a new vote of no confidence. Bear: breaks the recent support at $3.76; bull requires a hold above $4.50 to challenge the 90-day high of $5.72.

Where it could go — Broad base rate 37.5% positive at 90d; bear breaks $3.76, bull holds $4.50.