American Well Co. (NYSE:AMWL) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in American Well Co. (NYSE:AMWL - Free Report) by 20.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,923 shares of the company's stock after selling 44,935 shares during the period. Renaissance Technologies LLC owned about 1.14% of American Well worth $1,268,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in AMWL. Geode Capital Management LLC lifted its stake in shares of American Well by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 147,925 shares of the company's stock valued at $1,073,000 after purchasing an additional 922 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of American Well during the 4th quarter valued at approximately $45,000. Norges Bank acquired a new stake in shares of American Well during the 4th quarter valued at approximately $204,000. Finally, Takeda Pharmaceutical Co. Ltd. purchased a new stake in shares of American Well during the 4th quarter worth approximately $564,000. Hedge funds and other institutional investors own 56.05% of the company's stock.

Insider Transactions at American Well

In other American Well news, insider Phyllis Gotlib sold 4,781 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.80, for a total transaction of $42,072.80. Following the completion of the sale, the insider now directly owns 147,998 shares in the company, valued at $1,302,382.40. The trade was a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AMWL shares. Truist Financial reduced their price objective on American Well from $12.00 to $7.50 and set a "hold" rating for the company in a report on Thursday, April 10th. Stifel Nicolaus decreased their price objective on shares of American Well from $10.00 to $8.00 and set a "hold" rating on the stock in a research report on Friday. Needham & Company LLC restated a "hold" rating on shares of American Well in a research report on Friday. Finally, Wells Fargo & Company raised shares of American Well from an "equal weight" rating to an "overweight" rating and set a $15.00 price target on the stock in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, American Well has an average rating of "Hold" and a consensus target price of $10.60.

American Well Trading Down 1.0 %

Shares of American Well stock traded down $0.08 during trading hours on Monday, reaching $7.34. 5,922 shares of the company's stock were exchanged, compared to its average volume of 64,452. American Well Co. has a 52-week low of $5.00 and a 52-week high of $12.95. The company has a fifty day moving average of $7.70 and a 200-day moving average of $8.82. The firm has a market capitalization of $114.50 million, a price-to-earnings ratio of -0.52 and a beta of 1.22.

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

American Well 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.