Insider Selling: American Well Co. (NYSE:AMWL) COO Sells 22,269 Shares of Stock

American Well Co. (NYSE:AMWL – Get Rating) COO Kurt Knight sold 22,269 shares of the company’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $3.58, for a total transaction of $79,723.02. Following the completion of the sale, the chief operating officer now directly owns 1,545,890 shares of the company’s stock, valued at approximately $5,534,286.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Kurt Knight also recently made the following trade(s):

• On Monday, March 7th, Kurt Knight sold 25,850 shares of American Well stock. The shares were sold at an average price of $3.67, for a total transaction of $94,869.50.

Shares of AMWL traded down $0.04 during mid-day trading on Wednesday, hitting $3.69. 1,320,186 shares of the company’s stock were exchanged, compared to its average volume of 3,141,648. The company has a market cap of $971.63 million, a price-to-earnings ratio of -5.35 and a beta of 0.60. American Well Co. has a fifty-two week low of $3.02 and a fifty-two week high of $19.21. The stock’s 50-day moving average is $3.90 and its 200-day moving average is $5.70.

American Well (NYSE:AMWL – Get Rating) last issued its quarterly earnings results on Thursday, February 24th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.10. The business had revenue of $72.80 million for the quarter, compared to analysts’ expectations of $68.93 million. American Well had a negative net margin of 69.80% and a negative return on equity of 14.21%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.21) earnings per share. As a group, research analysts predict that American Well Co. will post -0.87 EPS for the current fiscal year.

AMWL has been the topic of a number of recent analyst reports. Piper Sandler decreased their target price on shares of American Well from $12.00 to $7.00 in a research report on Friday, February 25th. Wells Fargo & Company decreased their target price on shares of American Well from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Monday, February 28th. Guggenheim initiated coverage on shares of American Well in a research report on Wednesday, April 13th. They issued a “buy” rating and a $6.00 target price on the stock. Zacks Investment Research raised shares of American Well from a “sell” rating to a “hold” rating in a research report on Thursday, March 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of American Well in a research report on Friday, February 11th. They issued a “neutral” rating and a $6.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $9.13.

A number of large investors have recently modified their holdings of the stock. Caledonia Private Investments Pty Ltd raised its holdings in American Well by 29.5% in the fourth quarter. Caledonia Private Investments Pty Ltd now owns 16,384,786 shares of the company’s stock valued at $98,964,000 after acquiring an additional 3,736,240 shares in the last quarter. BlackRock Inc. raised its holdings in American Well by 4.0% in the fourth quarter. BlackRock Inc. now owns 13,241,051 shares of the company’s stock valued at $79,977,000 after acquiring an additional 514,187 shares in the last quarter. State Street Corp raised its holdings in American Well by 19.3% in the fourth quarter. State Street Corp now owns 3,867,047 shares of the company’s stock valued at $23,357,000 after acquiring an additional 624,542 shares in the last quarter. Senvest Management LLC acquired a new stake in American Well in the fourth quarter valued at approximately $20,814,000. Finally, Geode Capital Management LLC raised its holdings in American Well by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 3,207,389 shares of the company’s stock valued at $19,372,000 after acquiring an additional 152,635 shares in the last quarter. 42.31% of the stock is currently owned by hedge funds and other institutional investors.

American Well Company Profile (Get Rating)

American Well Corporation operates as a telehealth company that enables digital delivery of care for healthcare. The company products offers urgent care; scheduled visits; acute behavioral health; telestroke; pediatrics; retail health, school health, Its application offers urgent care; pediatrics; therapy; menopause nutrition; end-stage renal disease and dialysis; dermatology care; behavioral health therapy; musculoskeletal care.

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