Insider Selling: American Well (NYSE:AMWL) Insider Sells 6,677 Shares

American Well Corporation (NYSE:AMWL) insider Phyllis Gotlib sold 6,677 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $9.33, for a total value of $62,296.41. Following the sale, the insider directly owned 152,754 shares of the company’s stock, valued at $1,425,194.82. This represents a 4.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Phyllis Gotlib also recently made the following trade(s):

• On Monday, June 1st, Phyllis Gotlib sold 3,573 shares of American Well stock. The stock was sold at an average price of $9.74, for a total transaction of $34,801.02.

American Well Trading Up 3.1%

Shares of NYSE:AMWL traded up $0.28 on Wednesday, hitting $9.40. The company had a trading volume of 95,615 shares, compared to its average volume of 87,135. American Well Corporation has a 1-year low of $3.71 and a 1-year high of $9.96. The stock has a market cap of $155.55 million, a price-to-earnings ratio of -1.73 and a beta of 1.69. The stock has a 50 day moving average price of $7.98 and a 200 day moving average price of $6.13.

American Well (NYSE:AMWL) last posted its earnings results on Tuesday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.11. The company had revenue of $54.88 million during the quarter, compared to analysts’ expectations of $51.54 million. American Well had a negative net margin of 37.02% and a negative return on equity of 32.11%. Sell-side analysts anticipate that American Well Corporation will post -2.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMWL. Wall Street Zen upgraded shares of American Well from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. TD Cowen upped their target price on American Well from $5.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Morgan Stanley increased their target price on American Well from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Truist Financial set a $7.50 price target on American Well in a report on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.20.

Institutional Investors Weigh In On American Well

A number of institutional investors have recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in shares of American Well in the second quarter valued at about $39,000. Occudo Quantitative Strategies LP acquired a new stake in American Well in the 4th quarter worth about $74,000. NewEdge Advisors LLC acquired a new stake in American Well in the 4th quarter worth about $82,000. Prelude Capital Management LLC bought a new stake in American Well in the 3rd quarter valued at about $86,000. Finally, Engineers Gate Manager LP bought a new stake in American Well in the 2nd quarter valued at about $101,000. Institutional investors own 56.05% of the company’s stock.

American Well Company Profile

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.