Insider Selling: American Well Co. (NYSE:AMWL) CTO Sells 19,575 Shares of Stock

American Well Co. (NYSE:AMWLGet Rating) CTO Serkan Kutan sold 19,575 shares of the business’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $3.58, for a total value of $70,078.50. Following the sale, the chief technology officer now directly owns 703,980 shares in the company, valued at approximately $2,520,248.40. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Serkan Kutan also recently made the following trade(s):

  • On Tuesday, March 1st, Serkan Kutan sold 17,893 shares of American Well stock. The stock was sold at an average price of $3.94, for a total value of $70,498.42.

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

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

A number of institutional investors and hedge funds have recently modified their holdings of the business. Swiss National Bank raised its holdings in American Well by 1.5% in the 3rd quarter. Swiss National Bank now owns 115,300 shares of the company’s stock valued at $1,050,000 after acquiring an additional 1,700 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in American Well by 6.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 50,320 shares of the company’s stock valued at $458,000 after acquiring an additional 2,900 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in American Well by 31.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 16,052 shares of the company’s stock valued at $146,000 after acquiring an additional 3,805 shares during the last quarter. Gagnon Securities LLC acquired a new position in American Well in the 4th quarter valued at $62,000. Finally, Gagnon Advisors LLC acquired a new stake in shares of American Well during the 4th quarter worth $64,000. Institutional investors own 42.31% of the company’s stock.

Several equities research analysts have recently commented on AMWL shares. The Goldman Sachs Group started coverage on American Well in a research note on Friday, February 11th. They set a “neutral” rating and a $6.00 price target on the stock. Zacks Investment Research raised American Well from a “sell” rating to a “hold” rating in a research note on Thursday, March 3rd. Piper Sandler reduced their target price on American Well from $12.00 to $7.00 in a research note on Friday, February 25th. Guggenheim started coverage on American Well in a research note on Wednesday, April 13th. They issued a “buy” rating and a $6.00 target price on the stock. Finally, Wells Fargo & Company reduced their target price on American Well from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Monday, February 28th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $9.13.

About American Well (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.

Further Reading

Insider Buying and Selling by Quarter for American Well (NYSE:AMWL)

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