Insider Selling: American Well Co. (NYSE:AMWL) COO Sells 24,545 Shares of Stock

American Well Co. (NYSE:AMWLGet Rating) COO Kurt Knight sold 24,545 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $4.13, for a total value of $101,370.85. Following the completion of the sale, the chief operating officer now owns 1,503,229 shares in the company, valued at $6,208,335.77. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

  • 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 value of $64,674.12.
  • On Monday, April 18th, Kurt Knight sold 22,269 shares of American Well stock. The shares were sold at an average price of $3.58, for a total value of $79,723.02.

AMWL traded down $0.18 during midday trading on Tuesday, hitting $4.00. The stock had a trading volume of 2,171,108 shares, compared to its average volume of 2,995,937. The business has a fifty day moving average of $3.54 and a 200 day moving average of $4.43. American Well Co. has a 1 year low of $2.52 and a 1 year high of $14.76.

American Well (NYSE:AMWLGet Rating) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). The company had revenue of $64.20 million for the quarter, compared to analysts’ expectations of $64.94 million. American Well had a negative net margin of 79.91% and a negative return on equity of 16.72%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the company posted ($0.16) EPS. On average, equities analysts anticipate that American Well Co. will post -0.98 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Gagnon Securities LLC purchased a new stake in American Well in the fourth quarter worth $62,000. Gagnon Advisors LLC purchased a new stake in American Well in the fourth quarter worth $64,000. Point72 Hong Kong Ltd lifted its stake in American Well by 175.1% in the first quarter. Point72 Hong Kong Ltd now owns 8,087 shares of the company’s stock worth $34,000 after acquiring an additional 5,147 shares during the period. Nisa Investment Advisors LLC lifted its stake in American Well by 440.0% in the first quarter. Nisa Investment Advisors LLC now owns 8,100 shares of the company’s stock worth $34,000 after acquiring an additional 6,600 shares during the period. Finally, Vigilant Capital Management LLC purchased a new stake in American Well in the first quarter worth $42,000. 43.75% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on AMWL shares. The Goldman Sachs Group began coverage on American Well in a research note on Friday, February 11th. They issued a “neutral” rating and a $6.00 price objective on the stock. Guggenheim began coverage on American Well in a research report on Wednesday, April 13th. They set a “buy” rating and a $6.00 price target on the stock. Zacks Investment Research cut American Well from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. Piper Sandler reiterated an “overweight” rating and set a $5.00 price target (down from $7.00) on shares of American Well in a research report on Monday, May 16th. Finally, Wells Fargo & Company decreased their price target on American Well from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Monday, February 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.93.

American Well Company Profile (Get Rating)

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.

Further Reading

Insider Buying and Selling by Quarter for American Well (NYSE:AMWL)

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