Phyllis Gotlib Sells 4,782 Shares of American Well Co. (NYSE:AMWL) Stock

American Well Co. (NYSE:AMWL - Get Free Report) insider Phyllis Gotlib sold 4,782 shares of American Well stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.61, for a total value of $31,609.02. Following the completion of the sale, the insider now directly owns 141,849 shares of the company's stock, valued at approximately $937,621.89. This represents a 3.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

American Well Price Performance

AMWL stock traded up $0.04 during trading on Friday, reaching $6.96. 19,965 shares of the stock traded hands, compared to its average volume of 86,615. The business's 50 day moving average price is $7.10 and its 200-day moving average price is $8.47. American Well Co. has a 52-week low of $5.00 and a 52-week high of $12.95. The firm has a market capitalization of $108.57 million, a PE ratio of -0.50 and a beta of 1.18.

American Well (NYSE:AMWL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($1.73) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.09) by $1.36. American Well had a negative return on equity of 56.73% and a negative net margin of 81.83%. The firm had revenue of $66.83 million during the quarter, compared to the consensus estimate of $60.15 million. On average, equities research analysts predict that American Well Co. will post -9.34 earnings per share for the current year.

Institutional Investors Weigh In On American Well

Several institutional investors and hedge funds have recently modified their holdings of AMWL. 4D Advisors LLC purchased a new stake in shares of American Well in the fourth quarter worth about $1,088,000. Takeda Pharmaceutical Co. Ltd. purchased a new stake in shares of American Well in the fourth quarter worth about $564,000. Senvest Management LLC boosted its position in shares of American Well by 3.9% in the fourth quarter. Senvest Management LLC now owns 1,300,611 shares of the company's stock worth $9,429,000 after buying an additional 48,800 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of American Well by 280.6% in 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. Finally, Jane Street Group LLC boosted its position in shares of American Well by 232.9% in the first quarter. Jane Street Group LLC now owns 64,112 shares of the company's stock worth $505,000 after buying an additional 44,852 shares during the period. Hedge funds and other institutional investors own 56.05% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMWL. Stifel Nicolaus lowered their price objective on American Well from $10.00 to $8.00 and set a "hold" rating for the company in a research report on Friday, May 2nd. Piper Sandler reaffirmed a "neutral" rating and issued a $8.00 price objective (down previously from $10.00) on shares of American Well in a research report on Friday, May 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of American Well in a research report on Friday, May 2nd. Truist Financial lowered their price objective on American Well from $12.00 to $7.50 and set a "hold" rating for the company in a research report on Thursday, April 10th. Finally, UBS Group lowered their price objective on American Well from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, American Well presently has an average rating of "Hold" and an average price target of $9.67.

American Well Company Profile

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Converge, a cloud-based platform that enables health providers, payers, and innovators to provide in-person, virtual and automated care; and delivers virtual primary care, post-discharge follow-up, chronic condition management, virtual nursing, e-sitting, on-demand and scheduled virtual visits, specialty consults, automated care, and behavioral health, as well as specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care to patients and members.