American Well (NYSE:AMWL) Insider Dmitry Zamansky Sells 8,460 Shares

American Well Corporation (NYSE:AMWL) insider Dmitry Zamansky sold 8,460 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $9.33, for a total transaction of $78,931.80. Following the sale, the insider directly owned 232,620 shares in the company, valued at approximately $2,170,344.60. This represents a 3.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

American Well Stock Performance

American Well stock opened at $9.40 on Thursday. The business’s 50-day simple moving average is $8.04 and its two-hundred day simple moving average is $6.17. The company has a market cap of $155.55 million, a PE ratio of -1.73 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 issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.11. The company had revenue of $54.88 million for the quarter, compared to the consensus estimate of $51.54 million. American Well had a negative net margin of 37.02% and a negative return on equity of 32.11%. As a group, analysts predict that American Well Corporation will post -2.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMWL. Senvest Management LLC lifted its stake in American Well by 213.3% during the 1st quarter. Senvest Management LLC now owns 1,136,558 shares of the company’s stock worth $5,978,000 after acquiring an additional 773,834 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of American Well by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 650,102 shares of the company’s stock worth $3,998,000 after purchasing an additional 15,797 shares during the last quarter. Rock Point Advisors LLC lifted its holdings in American Well by 49.3% during the 3rd quarter. Rock Point Advisors LLC now owns 259,171 shares of the company’s stock worth $1,594,000 after buying an additional 85,581 shares during the last quarter. Geode Capital Management LLC boosted its holdings in American Well by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 152,742 shares of the company’s stock valued at $750,000 after purchasing an additional 3,450 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in 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 purchasing an additional 49,135 shares during the last quarter. 56.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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