American Well (NYSE:AMWL) Insider Sells $62,296.41 in Stock

American Well Corporation (NYSE:AMWL) insider Phyllis Gotlib sold 6,677 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.33, for a total value of $62,296.41. Following the transaction, the insider directly owned 152,754 shares of the company’s stock, valued at approximately $1,425,194.82. This represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, June 1st, Phyllis Gotlib sold 3,573 shares of American Well stock. The shares were sold at an average price of $9.74, for a total value of $34,801.02.

American Well Stock Performance

Shares of NYSE AMWL opened at $9.27 on Friday. The stock’s 50-day simple moving average is $8.16 and its 200-day simple moving average is $6.22. The firm has a market capitalization of $153.34 million, a PE ratio of -1.71 and a beta of 1.69. American Well Corporation has a fifty-two week low of $3.71 and a fifty-two week high of $9.96.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.11. American Well had a negative net margin of 37.02% and a negative return on equity of 32.11%. The company had revenue of $54.88 million for the quarter, compared to analyst estimates of $51.54 million. On average, sell-side analysts forecast that American Well Corporation will post -2.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in shares of 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 during the last quarter. Jane Street Group LLC lifted its position in American Well by 232.9% during the 1st quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock worth $505,000 after acquiring an additional 44,852 shares during the period. JPMorgan Chase & Co. grew its stake in shares of American Well by 16.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock valued at $131,000 after purchasing an additional 2,081 shares during the last quarter. Norges Bank acquired a new position in shares of American Well in the second quarter valued at approximately $250,000. Finally, Engineers Gate Manager LP acquired a new position in shares of American Well in the second quarter valued at approximately $101,000. 56.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMWL shares. Truist Financial set a $7.50 target price on American Well in a research report on Monday, June 8th. Wall Street Zen raised American Well from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Morgan Stanley boosted their price objective on American Well from $6.00 to $6.50 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, TD Cowen increased their price objective on American Well from $5.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.20.

American Well Company Profile

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.