Dmitry Zamansky Sells 8,460 Shares of American Well (NYSE:AMWL) Stock

American Well Corporation (NYSE:AMWL) insider Dmitry Zamansky sold 8,460 shares of American Well stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $9.33, for a total value of $78,931.80. Following the completion of the transaction, the insider owned 232,620 shares in the company, valued at $2,170,344.60. The trade was a 3.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

American Well Stock Down 1.1%

Shares of American Well stock opened at $9.27 on Friday. American Well Corporation has a 12-month low of $3.71 and a 12-month high of $9.96. The firm has a market capitalization of $153.35 million, a PE ratio of -1.71 and a beta of 1.69. The stock’s fifty day moving average is $8.10 and its 200-day moving average is $6.20.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial set a $7.50 price target on shares of American Well in a research report on Monday, June 8th. Morgan Stanley boosted their target price on shares of American Well from $6.00 to $6.50 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. TD Cowen increased their target price on American Well from $5.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen raised American Well from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMWL. Monaco Asset Management SAM purchased a new stake in American Well in the 4th quarter worth approximately $338,000. Occudo Quantitative Strategies LP acquired a new position in shares of American Well in the fourth quarter worth $74,000. Vanguard Group Inc. increased its stake in shares of American Well by 2.5% in the third quarter. Vanguard Group Inc. now owns 650,102 shares of the company’s stock worth $3,998,000 after acquiring an additional 15,797 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of American Well by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 152,742 shares of the company’s stock worth $750,000 after acquiring an additional 3,450 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in American Well by 74.5% during the fourth quarter. Squarepoint Ops LLC now owns 115,061 shares of the company’s stock valued at $565,000 after purchasing an additional 49,135 shares during the last quarter. 56.05% of the stock is owned by hedge funds and other institutional investors.

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.