American Well Co. (NYSE:AMWL) COO Sells $22,475.31 in Stock

American Well Co. (NYSE:AMWL – Get Rating) COO Kurt Knight sold 5,577 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $4.03, for a total transaction of $22,475.31. Following the completion of the sale, the chief operating officer now directly owns 1,497,652 shares in the company, valued at $6,035,537.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, June 6th, Kurt Knight sold 24,545 shares of American Well stock. The stock was sold at an average price of $4.13, for a total transaction of $101,370.85.
• On Wednesday, June 1st, Kurt Knight sold 18,116 shares of American Well stock. The shares were sold at an average price of $3.57, for a total transaction of $64,674.12.

American Well Stock Performance

AMWL opened at $4.99 on Friday. The company’s 50-day simple moving average is $4.38 and its two-hundred day simple moving average is $3.99. American Well Co. has a 52-week low of $2.52 and a 52-week high of $11.68.

American Well (NYSE:AMWL – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.01. The business had revenue of $64.52 million for the quarter, compared to analysts’ expectations of $64.13 million. American Well had a negative net margin of 90.47% and a negative return on equity of 19.00%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.15) EPS. On average, sell-side analysts predict that American Well Co. will post -0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Well

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of American Well by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 17,000,809 shares of the company’s stock worth $71,574,000 after purchasing an additional 148,001 shares during the period. Caledonia Private Investments Pty Ltd lifted its stake in shares of American Well by 29.5% in the 4th quarter. Caledonia Private Investments Pty Ltd now owns 16,384,786 shares of the company’s stock worth $98,964,000 after purchasing an additional 3,736,240 shares during the period. BlackRock Inc. lifted its stake in shares of American Well by 8.7% in the 1st quarter. BlackRock Inc. now owns 14,394,991 shares of the company’s stock worth $60,602,000 after purchasing an additional 1,153,940 shares during the period. State Street Corp lifted its stake in shares of American Well by 18.5% in the 1st quarter. State Street Corp now owns 4,582,797 shares of the company’s stock worth $19,294,000 after purchasing an additional 715,750 shares during the period. Finally, Eagle Health Investments LP lifted its stake in shares of American Well by 69.5% in the 1st quarter. Eagle Health Investments LP now owns 3,811,008 shares of the company’s stock worth $16,044,000 after purchasing an additional 1,563,100 shares during the period. Institutional investors own 43.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on AMWL shares. Piper Sandler increased their price objective on shares of American Well from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Thursday, June 23rd. Guggenheim started coverage on shares of American Well in a research report on Wednesday, April 13th. They set a “buy” rating and a $6.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, American Well currently has an average rating of “Moderate Buy” and an average price target of $9.00.

About American Well

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American Well Corporation operates as a telehealth software company that enables digital delivery of care for healthcare. The company products offer urgent care; scheduled visits; acute behavioral health; telestroke; pediatrics; retail health, school health, and home settings. Its application offers urgent care; pediatrics; therapy; menopause nutrition; end-stage renal disease and dialysis; dermatology care; behavioral health therapy; and musculoskeletal care.