American Well (NYSE:AMWL) Insider Phyllis Gotlib Sells 3,707 Shares of Stock

American Well Corporation (NYSE:AMWL) insider Phyllis Gotlib sold 3,707 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $4.85, for a total value of $17,978.95. Following the sale, the insider owned 119,870 shares in the company, valued at approximately $581,369.50. This represents a 3.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, December 1st, Phyllis Gotlib sold 3,574 shares of American Well stock. The shares were sold at an average price of $4.06, for a total value of $14,510.44.

American Well Stock Performance

NYSE:AMWL opened at $5.21 on Tuesday. The business’s fifty day moving average is $4.42 and its 200 day moving average is $6.14. The firm has a market cap of $85.35 million, a price-to-earnings ratio of -0.72 and a beta of 1.26. American Well Corporation has a 52-week low of $3.71 and a 52-week high of $12.95.

American Well (NYSE:AMWL) last posted its earnings results on Tuesday, November 4th. The company reported ($1.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.83) by $0.09. American Well had a negative return on equity of 39.80% and a negative net margin of 42.80%.The business had revenue of $56.29 million during the quarter, compared to analyst estimates of $54.56 million. Equities analysts predict that American Well Corporation will post -9.34 EPS for the current fiscal year.

Analysts Set New Price Targets

AMWL has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of American Well in a report on Wednesday, October 8th. Morgan Stanley reduced their price target on shares of American Well from $10.50 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, December 18th. Stifel Nicolaus lowered their price objective on American Well from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, November 5th. Wall Street Zen cut American Well from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Wells Fargo & Company decreased their target price on American Well from $12.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.58.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Rock Point Advisors LLC raised its position in American Well by 49.3% during the third quarter. Rock Point Advisors LLC now owns 259,171 shares of the company’s stock valued at $1,594,000 after purchasing an additional 85,581 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of American Well by 280.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock valued at $510,000 after purchasing an additional 47,745 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of American Well by 232.9% during the 1st quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock valued at $505,000 after buying an additional 44,852 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of American Well by 19.5% during the 1st quarter. Acadian Asset Management LLC now owns 188,217 shares of the company’s stock valued at $1,481,000 after buying an additional 30,669 shares in the last quarter. Finally, Norges Bank bought a new stake in American Well in the 2nd quarter worth approximately $250,000. Institutional investors own 56.05% of the company’s stock.

About American Well

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.