American Well (NYSE:AMWL) Insider Phyllis Gotlib Sells 6,677 Shares

American Well Corporation (NYSE:AMWL) insider Phyllis Gotlib sold 6,677 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $9.33, for a total transaction of $62,296.41. Following the completion of the sale, the insider directly owned 152,754 shares in the company, valued at approximately $1,425,194.82. This represents a 4.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 value of $34,801.02.

American Well Stock Performance

Shares of NYSE AMWL opened at $9.40 on Thursday. The stock has a market capitalization of $155.55 million, a PE ratio of -1.73 and a beta of 1.69. American Well Corporation has a 52 week low of $3.71 and a 52 week high of $9.96. The stock has a 50 day moving average price of $8.04 and a 200 day moving average price of $6.17.

American Well (NYSE:AMWL) last issued its earnings results on Tuesday, May 5th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.11. The business 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, research analysts forecast that American Well Corporation will post -2.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMWL. Wall Street Zen raised shares of American Well from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Morgan Stanley raised 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. TD Cowen increased their price target on shares of American Well from $5.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Finally, Truist Financial set a $7.50 price objective on American Well in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, American Well currently has an average rating of “Hold” and a consensus target price of $7.20.

Institutional Investors Weigh In On American Well

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Senvest Management LLC increased its position in American Well by 213.3% during the 1st quarter. Senvest Management LLC now owns 1,136,558 shares of the company’s stock valued at $5,978,000 after purchasing an additional 773,834 shares during the period. Rock Point Advisors LLC raised its holdings in shares of American Well by 49.3% during the third quarter. Rock Point Advisors LLC now owns 259,171 shares of the company’s stock valued at $1,594,000 after purchasing an additional 85,581 shares during the period. Monaco Asset Management SAM bought a new position in American Well in the fourth quarter worth approximately $338,000. Squarepoint Ops LLC lifted its holdings in shares of American Well by 74.5% in the 4th quarter. Squarepoint Ops LLC now owns 115,061 shares of the company’s stock worth $565,000 after purchasing an additional 49,135 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings 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 valued at $510,000 after buying an additional 47,745 shares during the last quarter. Institutional investors and hedge funds own 56.05% of the company’s stock.

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.