Senvest Management LLC Has $11.87 Million Holdings in American Well Co. (NYSE:AMWL)

Senvest Management LLC reduced its holdings in American Well Co. (NYSE:AMWL - Free Report) by 94.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,251,811 shares of the company's stock after selling 22,850,437 shares during the quarter. Senvest Management LLC owned 8.17% of American Well worth $11,867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cubist Systematic Strategies LLC increased its position in shares of American Well by 7,673.8% in the second quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company's stock worth $60,000 after acquiring an additional 181,715 shares in the last quarter. AQR Capital Management LLC grew its position in American Well by 28.1% in the second quarter. AQR Capital Management LLC now owns 1,895,730 shares of the company's stock worth $616,000 after acquiring an additional 416,387 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in American Well by 2,690.2% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 419,841 shares of the company's stock worth $136,000 after acquiring an additional 404,794 shares in the last quarter. Point72 DIFC Ltd grew its position in American Well by 1,418.5% in the second quarter. Point72 DIFC Ltd now owns 103,457 shares of the company's stock worth $34,000 after acquiring an additional 96,644 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in American Well by 63.9% in the second quarter. Renaissance Technologies LLC now owns 6,833,500 shares of the company's stock worth $2,220,000 after acquiring an additional 2,665,300 shares in the last quarter. 56.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other American Well news, CFO Robert Shepardson sold 5,177 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total value of $40,742.99. Following the sale, the chief financial officer now owns 112,992 shares in the company, valued at $889,247.04. This represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kathy Johnson Weiler sold 7,266 shares of American Well stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total transaction of $57,183.42. Following the transaction, the insider now directly owns 188,027 shares of the company's stock, valued at approximately $1,479,772.49. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,640 shares of company stock worth $173,939. Company insiders own 12.80% of the company's stock.

American Well Trading Up 1.1 %

Shares of NYSE:AMWL traded up $0.09 during mid-day trading on Friday, reaching $8.10. The stock had a trading volume of 52,519 shares, compared to its average volume of 48,164. The firm has a market cap of $124.09 million, a PE ratio of -0.55 and a beta of 1.04. The firm has a 50 day simple moving average of $9.44 and a two-hundred day simple moving average of $8.69. American Well Co. has a twelve month low of $5.00 and a twelve month high of $31.60.

Analysts Set New Price Targets

Several research firms have commented on AMWL. Needham & Company LLC reissued a "hold" rating on shares of American Well in a research report on Thursday, October 31st. Wells Fargo & Company lowered their target price on shares of American Well from $40.00 to $15.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 6th.

American Well 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.