Insider Selling: American Well (NYSE:AMWL) Insider Sells 6,677 Shares of Stock

American Well Corporation (NYSE:AMWL) insider Phyllis Gotlib sold 6,677 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.33, for a total value of $62,296.41. Following the completion of the sale, the insider owned 152,754 shares in the company, valued at $1,425,194.82. The trade was a 4.19% decrease in their position. 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 transaction of $34,801.02.

American Well Stock Up 3.1%

Shares of AMWL stock traded up $0.28 during trading on Wednesday, reaching $9.40. The company’s stock had a trading volume of 95,615 shares, compared to its average volume of 87,135. The business has a fifty day moving average price of $7.98 and a 200-day moving average price of $6.13. The company has a market cap of $155.55 million, a price-to-earnings ratio of -1.73 and a beta of 1.69. American Well Corporation has a one year low of $3.71 and a one year high of $9.96.

American Well (NYSE:AMWL) last announced its earnings results on Tuesday, May 5th. The company reported ($0.66) EPS for the quarter, topping 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 business had revenue of $54.88 million during the quarter, compared to analysts’ expectations of $51.54 million. Research analysts anticipate that American Well Corporation will post -2.68 EPS for the current year.

Institutional Investors Weigh In On American Well

A number of institutional investors and hedge funds have recently modified their holdings of AMWL. Goldman Sachs Group Inc. grew its holdings 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 purchasing an additional 47,745 shares during the period. Jane Street Group LLC raised its stake in American Well by 232.9% in the first quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock valued at $505,000 after buying an additional 44,852 shares during the period. JPMorgan Chase & Co. raised its stake in American Well by 16.5% in the second quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock valued at $131,000 after buying an additional 2,081 shares during the period. Norges Bank acquired a new stake in shares of American Well in the second quarter valued at approximately $250,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of American Well in the second quarter valued at approximately $101,000. 56.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

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. Morgan Stanley boosted their price target on American Well from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. 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. Finally, Wall Street Zen raised shares of American Well from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.20.

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.