Insider Selling: American Well Co. (NYSE:AMWL) COO Sells 3,053 Shares of Stock

American Well Co. (NYSE:AMWL - Get Free Report) COO Kurt Knight sold 3,053 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total value of $24,027.11. Following the completion of the sale, the chief operating officer now owns 146,286 shares of the company's stock, valued at $1,151,270.82. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Thursday, August 1st, Kurt Knight sold 268 shares of American Well stock. The stock was sold at an average price of $9.56, for a total value of $2,562.08.
• On Monday, July 1st, Kurt Knight sold 681 shares of American Well stock. The shares were sold at an average price of $6.00, for a total value of $4,086.00.

American Well Trading Up 2.7 %

NYSE AMWL traded up $0.21 on Thursday, hitting $8.00. 35,145 shares of the stock traded hands, compared to its average volume of 125,169. The company has a market capitalization of $118.58 million, a P/E ratio of -0.33 and a beta of 1.04. The stock has a 50-day moving average of $8.10 and a 200 day moving average of $11.41. American Well Co. has a twelve month low of $5.00 and a twelve month high of $31.60.

American Well (NYSE:AMWL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($3.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.94) by $0.58. The business had revenue of $62.79 million for the quarter, compared to analyst estimates of $60.78 million. American Well had a negative return on equity of 50.36% and a negative net margin of 120.44%. During the same period in the prior year, the company posted ($4.60) EPS. As a group, equities research analysts expect that American Well Co. will post -13.91 earnings per share for the current year.

Hedge Funds Weigh In On American Well

Several institutional investors have recently modified their holdings of AMWL. Point72 DIFC Ltd lifted its position in American Well by 1,418.5% in the 2nd quarter. Point72 DIFC Ltd now owns 103,457 shares of the company's stock valued at $34,000 after purchasing an additional 96,644 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of American Well in the first quarter valued at approximately $46,000. Cubist Systematic Strategies LLC raised its holdings in shares of American Well by 7,673.8% during the second quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company's stock valued at $60,000 after buying an additional 181,715 shares during the last quarter. Cowen AND Company LLC acquired a new position in shares of American Well during the second quarter worth approximately $81,000. Finally, RPO LLC bought a new position in American Well in the 4th quarter valued at about $85,000. Institutional investors own 56.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMWL. UBS Group lowered their target price on American Well from $30.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, May 23rd. Needham & Company LLC reiterated a "hold" rating on shares of American Well in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lowered their target price on American Well from $40.00 to $15.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 6th.

American Well Company Profile

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Converge, a cloud-based platform that enables health providers, payers, and innovators to provide in-person, virtual and automated care; and delivers virtual primary care, post-discharge follow-up, chronic condition management, virtual nursing, e-sitting, on-demand and scheduled virtual visits, specialty consults, automated care, and behavioral health, as well as specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care to patients and members.

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