Stephen Schlegel Sells 9,750 Shares of American Well (NYSE:AMWL) Stock

American Well Corporation (NYSE:AMWL) Director Stephen Schlegel sold 9,750 shares of American Well stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $8.76, for a total transaction of $85,410.00. Following the transaction, the director owned 54,553 shares in the company, valued at approximately $477,884.28. This trade represents a 15.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

American Well Stock Performance

Shares of NYSE:AMWL traded down $0.34 during mid-day trading on Monday, reaching $8.77. 30,257 shares of the company’s stock were exchanged, compared to its average volume of 87,813. The firm has a market capitalization of $145.16 million, a price-to-earnings ratio of -1.62 and a beta of 1.69. The business’s fifty day moving average price is $7.27 and its 200-day moving average price is $5.75. American Well Corporation has a twelve month low of $3.71 and a twelve month high of $9.96.

American Well (NYSE:AMWL) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.11. American Well had a negative net margin of 37.02% and a negative return on equity of 32.11%. The company had revenue of $54.88 million for the quarter, compared to analyst estimates of $51.54 million. Analysts predict that American Well Corporation will post -2.68 EPS for the current fiscal year.

Institutional Investors Weigh In On American Well

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in American Well by 16.5% in the second quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock valued at $131,000 after purchasing an additional 2,081 shares in the last quarter. Geode Capital Management LLC increased its stake in American Well by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 152,742 shares of the company’s stock valued at $750,000 after purchasing an additional 3,450 shares in the last quarter. State Street Corp increased its stake in American Well by 7.8% in the fourth quarter. State Street Corp now owns 52,299 shares of the company’s stock valued at $257,000 after purchasing an additional 3,800 shares in the last quarter. Headlands Technologies LLC bought a new stake in American Well in the second quarter valued at $39,000. Finally, Two Sigma Investments LP increased its stake in American Well by 22.6% in the third quarter. Two Sigma Investments LP now owns 46,329 shares of the company’s stock valued at $285,000 after purchasing an additional 8,553 shares in the last quarter. 56.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMWL has been the topic of a number of recent analyst reports. Truist Financial set a $7.50 price objective on American Well in a research note on Monday, June 8th. Wall Street Zen raised American Well from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Morgan Stanley lifted their target price on American Well from $6.00 to $6.50 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, TD Cowen boosted their price target on American Well from $5.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.20.

About American Well

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.