Insider Selling: American Well (NYSE:AMWL) Insider Sells $42,161.40 in Stock

American Well Corporation (NYSE:AMWL) insider Phyllis Gotlib sold 3,573 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $11.80, for a total transaction of $42,161.40. Following the completion of the transaction, the insider directly owned 149,181 shares of the company’s stock, valued at $1,760,335.80. This represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Phyllis Gotlib also recently made the following trade(s):

• On Wednesday, July 1st, Phyllis Gotlib sold 6,677 shares of American Well stock. The shares were sold at an average price of $9.33, for a total transaction of $62,296.41.

American Well Price Performance

Shares of AMWL opened at $12.99 on Friday. The firm has a 50-day moving average of $11.41 and a 200-day moving average of $8.40. American Well Corporation has a one year low of $3.71 and a one year high of $14.19. The company has a market cap of $214.98 million, a PE ratio of -2.72 and a beta of 1.71.

American Well (NYSE:AMWL) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.27. American Well had a negative net margin of 35.75% and a negative return on equity of 30.12%. The company had revenue of $52.05 million for the quarter, compared to analyst estimates of $49.87 million. Analysts expect that American Well Corporation will post -2.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AMWL shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Well in a research report on Friday, July 17th. Truist Financial set a $12.00 price target on American Well and gave the company a “hold” rating in a research note on Thursday, August 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a report on Wednesday, August 5th. Finally, Wells Fargo & Company lifted their price objective on shares of American Well from $9.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.50.

Institutional Investors Weigh In On American Well

Institutional investors have recently modified their holdings of the business. Senvest Management LLC boosted its holdings in American Well by 213.3% in the 1st quarter. Senvest Management LLC now owns 1,136,558 shares of the company’s stock valued at $5,978,000 after purchasing an additional 773,834 shares during the period. Monaco Asset Management SAM acquired a new stake in shares of American Well in the fourth quarter valued at approximately $338,000. Prelude Capital Management LLC acquired a new stake in shares of American Well in the third quarter valued at approximately $86,000. Squarepoint Ops LLC boosted its stake in shares of American Well by 74.5% in the fourth quarter. Squarepoint Ops LLC now owns 115,061 shares of the company’s stock valued at $565,000 after buying an additional 49,135 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in American Well by 280.6% during the first quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock worth $510,000 after buying an additional 47,745 shares in the last quarter. Institutional investors own 56.05% of the company’s stock.

About American Well

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.