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

Key Points

• Phyllis Gotlib sold 6,677 American Well shares at an average price of $13, generating $86,801 and reducing her direct holdings by 4.48% to 142,504 shares.
• American Well shares rose 2.7% to $12.73, while the company reported better-than-expected quarterly results with an EPS loss of $0.59 and revenue of $52.05 million.
• Analysts maintain a consensus “Hold” rating with an average price target of $9.50; meanwhile, Senvest Management increased its stake by 213.3% and institutional investors own 56.05% of the stock.

American Well Corporation (NYSE:AMWL - Get Free Report) insider Phyllis Gotlib sold 6,677 shares of the company's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $13.00, for a total value of $86,801.00. Following the transaction, the insider directly owned 142,504 shares in the company, valued at $1,852,552. This represents a 4.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Stock Up 2.7%

AMWL traded up $0.34 during trading hours on Monday, hitting $12.73. The stock had a trading volume of 82,244 shares, compared to its average volume of 99,318. American Well Corporation has a 1 year low of $3.71 and a 1 year high of $14.19. The company's fifty day simple moving average is $12.54 and its 200 day simple moving average is $9.50. The stock has a market cap of $210.62 million, a PE ratio of -2.67 and a beta of 1.67.

American Well (NYSE:AMWL - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.27. The business had revenue of $52.05 million for the quarter, compared to the consensus estimate of $49.87 million. American Well had a negative net margin of 35.75% and a negative return on equity of 30.12%. As a group, equities analysts expect that American Well Corporation will post -2.56 EPS for the current year.

Hedge Funds Weigh In On American Well

A hedge fund recently raised its position in American Well stock. Senvest Management LLC boosted its holdings in shares of American Well Corporation (NYSE:AMWL - Free Report) by 213.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,136,558 shares of the company's stock after buying an additional 773,834 shares during the period. Senvest Management LLC owned approximately 6.87% of American Well worth $5,978,000 as of its most recent SEC filing. 56.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of American Well in a research note on Friday, July 17th. Wells Fargo & Company boosted their target price on shares of American Well from $9.00 to $16.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Truist Financial set a $12.00 target price on American Well and gave the stock a "hold" rating in a research report on Thursday, August 13th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of American Well in a report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.