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

American Well Corporation (NYSE:AMWL) insider Phyllis Gotlib sold 3,573 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $11.80, for a total value of $42,161.40. Following the completion of the transaction, the insider 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 legal filing with the SEC, which is accessible through this link.

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 value of $62,296.41.

American Well Stock Performance

Shares of American Well stock traded up $0.45 on Thursday, hitting $13.28. The stock had a trading volume of 107,140 shares, compared to its average volume of 99,077. The stock has a 50 day moving average of $11.23 and a 200 day moving average of $8.31. The firm has a market capitalization of $219.78 million, a P/E ratio of -2.78 and a beta of 1.71. American Well Corporation has a twelve month low of $3.71 and a twelve month high of $14.19.

American Well (NYSE:AMWL) last posted its earnings results on Tuesday, August 4th. The company reported ($0.59) EPS 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 business had revenue of $52.05 million for the quarter, compared to the consensus estimate of $49.87 million. Equities analysts expect that American Well Corporation will post -2.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position 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 period. Jane Street Group LLC lifted its holdings 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. lifted its holdings 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 bought a new stake in American Well during the second quarter valued at $250,000. Finally, Engineers Gate Manager LP bought a new stake in American Well during the second quarter valued at $101,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AMWL shares. TD Cowen boosted their price objective on shares of American Well from $5.00 to $8.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Morgan Stanley raised their target price 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. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a report on Wednesday, August 5th. Wells Fargo & Company upped their price target on American Well from $9.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of American Well in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $9.50.

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.