American Well (NYSE:AMWL) Insider 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 value of $78,931.80. Following the sale, the insider directly owned 232,620 shares in the company, valued at approximately $2,170,344.60. The trade was a 3.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

American Well Stock Performance

NYSE AMWL traded up $0.28 on Wednesday, reaching $9.40. The company’s stock had a trading volume of 95,615 shares, compared to its average volume of 87,135. American Well Corporation has a twelve month low of $3.71 and a twelve month high of $9.96. The firm’s 50 day moving average is $7.98 and its two-hundred day moving average is $6.13. The stock has a market cap of $155.55 million, a PE ratio of -1.73 and a beta of 1.69.

American Well (NYSE:AMWL) last issued its earnings results on Tuesday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.11. American Well had a negative return on equity of 32.11% and a negative net margin of 37.02%.The business had revenue of $54.88 million for the quarter, compared to analysts’ expectations of $51.54 million. Equities research analysts anticipate 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 made changes to their positions in AMWL. Senvest Management LLC grew its position in American Well by 213.3% during the first quarter. Senvest Management LLC now owns 1,136,558 shares of the company’s stock worth $5,978,000 after buying an additional 773,834 shares in the last quarter. Vanguard Group Inc. increased its stake in American Well by 2.5% during the third quarter. Vanguard Group Inc. now owns 650,102 shares of the company’s stock valued at $3,998,000 after acquiring an additional 15,797 shares during the period. Rock Point Advisors LLC raised its holdings in American Well by 49.3% in the 3rd quarter. Rock Point Advisors LLC now owns 259,171 shares of the company’s stock valued at $1,594,000 after acquiring an additional 85,581 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of American Well by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 152,742 shares of the company’s stock worth $750,000 after acquiring an additional 3,450 shares during the period. Finally, Squarepoint Ops LLC lifted its position 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 acquiring an additional 49,135 shares during the period. Institutional investors and hedge funds own 56.05% of the company’s stock.

Analysts Set New Price Targets

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