Wells Fargo & Company MN Has $41,000 Stake in American Well Co. (NYSE:AMWL)

Wells Fargo & Company MN decreased its position in American Well Co. (NYSE:AMWL) by 36.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,668 shares of the company’s stock after selling 3,228 shares during the quarter. Wells Fargo & Company MN’s holdings in American Well were worth $41,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMWL. Takeda Pharmaceutical Co. Ltd. acquired a new stake in American Well during the fourth quarter worth approximately $564,000. Norges Bank acquired a new stake in American Well during the fourth quarter worth approximately $204,000. Compagnie Lombard Odier SCmA acquired a new stake in American Well during the fourth quarter worth approximately $45,000. Finally, Geode Capital Management LLC grew its position in American Well by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 147,925 shares of the company’s stock worth $1,073,000 after buying an additional 922 shares in the last quarter. Institutional investors and hedge funds own 56.05% of the company’s stock.

Insider Activity

In other news, insider Phyllis Gotlib sold 4,781 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.80, for a total value of $42,072.80. Following the completion of the transaction, the insider now directly owns 147,998 shares in the company, valued at approximately $1,302,382.40. This represents a 3.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research report on Friday, May 2nd. Truist Financial cut their target price on American Well from $12.00 to $7.50 and set a “hold” rating for the company in a research note on Thursday, April 10th. Stifel Nicolaus cut their target price on American Well from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, May 2nd. Finally, UBS Group cut their target price on American Well from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.00.

American Well Price Performance

NYSE AMWL opened at $7.11 on Thursday. The business has a fifty day moving average price of $7.37 and a two-hundred day moving average price of $8.67. American Well Co. has a fifty-two week low of $5.00 and a fifty-two week high of $12.95. The stock has a market capitalization of $110.99 million, a PE ratio of -0.51 and a beta of 1.22.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($1.73) EPS for the quarter, beating analysts’ consensus estimates of ($3.09) by $1.36. American Well had a negative return on equity of 56.73% and a negative net margin of 81.83%. The company had revenue of $66.83 million during the quarter, compared to analysts’ expectations of $60.15 million. As a group, sell-side analysts expect that American Well Co. will post -9.34 earnings per share for the current year.

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.