American Well (NYSE:AMWL) Insider Sells $109,746.00 in Stock

Key Points

• Amwell insider Dmitry Zamansky sold 8,442 shares at $13.00 each for total proceeds of $109,746, reducing his holdings by 3.63% to 224,178 shares.
• AMWL shares traded at $12.73, with a market capitalization of approximately $210.6 million; the stock’s 12-month range is $3.71 to $14.19.
• Amwell’s latest quarterly results exceeded expectations, with revenue of $52.05 million and an adjusted EPS loss of $0.59 versus the expected $0.86 loss. Analysts maintain a consensus “Hold” rating with a $9.50 price target.

American Well Corporation (NYSE:AMWL - Get Free Report) insider Dmitry Zamansky sold 8,442 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $13.00, for a total transaction of $109,746.00. Following the completion of the transaction, the insider owned 224,178 shares in the company, valued at $2,914,314. This represents a 3.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

American Well Stock Performance

NYSE:AMWL traded up $0.34 during midday trading on Monday, reaching $12.73. 82,244 shares of the stock traded hands, compared to its average volume of 99,318. The company has a fifty day moving average of $12.54 and a 200 day moving average of $9.50. American Well Corporation has a 12 month low of $3.71 and a 12 month high of $14.19. The stock has a market capitalization of $210.62 million, a P/E 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) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.86) by $0.27. The firm had revenue of $52.05 million for the quarter, compared to analysts' expectations of $49.87 million. American Well had a negative net margin of 35.75% and a negative return on equity of 30.12%. On average, analysts predict that American Well Corporation will post -2.56 EPS for the current fiscal year.

Institutional Trading of American Well

A hedge fund recently raised its position in American Well stock. Senvest Management LLC grew its position in shares of American Well Corporation (NYSE:AMWL - Free Report) by 213.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,136,558 shares of the company's stock after acquiring an additional 773,834 shares during the period. Senvest Management LLC owned about 6.87% of American Well worth $5,978,000 at the end of the most recent quarter. Institutional investors and hedge funds own 56.05% of the company's stock.

Analyst Ratings Changes

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

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