Vanguard Group Inc. Has $20.37 Million Stock Position in American Well Co. (NYSE:AMWL)

Vanguard Group Inc. lowered its stake in shares of American Well Co. (NYSE:AMWL - Free Report) by 20.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 17,411,299 shares of the company's stock after selling 4,549,856 shares during the period. Vanguard Group Inc. owned approximately 6.05% of American Well worth $20,371,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC purchased a new position in American Well in the 4th quarter valued at approximately $501,952,000. Senvest Management LLC lifted its position in shares of American Well by 3.7% during the 3rd quarter. Senvest Management LLC now owns 23,022,624 shares of the company's stock worth $26,936,000 after purchasing an additional 813,244 shares during the last quarter. BlackRock Inc. lifted its position in shares of American Well by 6.6% during the 2nd quarter. BlackRock Inc. now owns 21,268,892 shares of the company's stock worth $44,665,000 after purchasing an additional 1,319,202 shares during the last quarter. State Street Corp lifted its position in shares of American Well by 1.9% during the 1st quarter. State Street Corp now owns 6,112,889 shares of the company's stock worth $14,426,000 after purchasing an additional 112,631 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of American Well by 9.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,982,984 shares of the company's stock worth $10,464,000 after purchasing an additional 447,778 shares during the last quarter. Hedge funds and other institutional investors own 56.05% of the company's stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley decreased their price objective on shares of American Well from $1.75 to $1.00 and set an "equal weight" rating for the company in a research report on Monday.

Insider Buying and Selling at American Well

In other American Well news, insider Kathy Johnson Weiler sold 283,192 shares of American Well stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $308,679.28. Following the transaction, the insider now directly owns 3,975,617 shares in the company, valued at $4,333,422.53. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Robert Shepardson sold 319,214 shares of American Well stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $347,943.26. Following the sale, the chief financial officer now owns 2,845,148 shares of the company's stock, valued at $3,101,211.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kathy Johnson Weiler sold 283,192 shares of American Well stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $1.09, for a total transaction of $308,679.28. Following the completion of the sale, the insider now directly owns 3,975,617 shares in the company, valued at approximately $4,333,422.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,227,447 shares of company stock worth $1,329,908. 12.94% of the stock is owned by company insiders.

American Well Trading Down 3.1 %

NYSE:AMWL traded down $0.02 during midday trading on Monday, hitting $0.56. 6,150,704 shares of the company were exchanged, compared to its average volume of 1,868,886. The company has a fifty day simple moving average of $0.96 and a 200 day simple moving average of $1.12. American Well Co. has a fifty-two week low of $0.54 and a fifty-two week high of $2.74. The company has a market capitalization of $161.23 million, a PE ratio of -0.25 and a beta of 1.00.

American Well (NYSE:AMWL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.02. American Well had a negative net margin of 260.63% and a negative return on equity of 40.19%. The firm had revenue of $70.68 million for the quarter, compared to analyst estimates of $70.16 million. During the same period last year, the business earned ($0.22) EPS. American Well's revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, equities research analysts expect that American Well Co. will post -0.7 EPS for the current year.

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.