American Well (NYSE:AMWL) Insider Phyllis Gotlib Sells 3,573 Shares of Stock

American Well Corporation (NYSE:AMWL) insider Phyllis Gotlib sold 3,573 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $11.80, for a total transaction of $42,161.40. Following the transaction, the insider directly owned 149,181 shares in the company, valued at $1,760,335.80. This trade represents a 2.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

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

American Well Stock Performance

NYSE AMWL opened at $13.28 on Friday. The firm’s 50 day moving average price is $11.33 and its 200-day moving average price is $8.37. American Well Corporation has a 52-week low of $3.71 and a 52-week high of $14.19. The company has a market cap of $219.78 million, a PE ratio of -2.78 and a beta of 1.71.

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

Analysts Set New Price Targets

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

Institutional Trading of American Well

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in American Well in the second quarter valued at $39,000. Engineers Gate Manager LP acquired a new position in shares of American Well during the 2nd quarter worth $101,000. Prelude Capital Management LLC purchased a new position in shares of American Well in the 3rd quarter valued at about $86,000. JPMorgan Chase & Co. lifted its stake in shares of 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 purchasing an additional 2,081 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new stake in American Well during the fourth quarter worth about $74,000. Hedge funds and other 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.