Insider Selling: American Well (NYSE:AMWL) Insider Sells $86,801.00 in Stock

American Well Corporation (NYSE:AMWL) insider Phyllis Gotlib sold 6,677 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $13.00, for a total transaction of $86,801.00. Following the transaction, the insider owned 142,504 shares of the company’s stock, valued at approximately $1,852,552. This represents a 4.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, September 1st, Phyllis Gotlib sold 3,573 shares of American Well stock. The stock was sold at an average price of $11.80, for a total value of $42,161.40.

American Well Trading Up 3.1%

AMWL opened at $12.65 on Thursday. American Well Corporation has a 1-year low of $3.71 and a 1-year high of $14.19. The firm has a 50-day moving average price of $12.63 and a two-hundred day moving average price of $9.65. The stock has a market capitalization of $209.37 million, a PE ratio of -2.65 and a beta of 1.67.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in American Well stock. Whetstone Capital Advisors LLC acquired a new stake in shares of American Well Corporation (NYSE:AMWL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,000 shares of the company’s stock, valued at approximately $123,000. Whetstone Capital Advisors LLC owned about 0.15% of American Well at the end of the most recent reporting period. Hedge funds and other institutional investors own 56.05% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on AMWL. Needham & Company LLC restated a “hold” rating on shares of American Well in a research note on Wednesday, August 5th. Wells Fargo & Company boosted their price target on American Well from $9.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Well in a research note on Friday, July 17th. Finally, Truist Financial set a $12.00 price target on shares of American Well and gave the stock a “hold” rating in a research report on Thursday, August 13th. 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $9.50.

American Well Company Profile

American Well Corporation, doing business as Amwell, is a digital health company that provides technology and services for virtual care. Its platform connects patients with healthcare professionals through video and other digital channels, supporting services such as urgent care, behavioral health, primary care, specialty care and chronic-condition management.

Amwell also provides software and infrastructure that enable health systems, health plans, employers and government organizations to offer and manage digital healthcare programs.