American Well Co. (NYSE:AMWL) Shares Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lifted its stake in shares of American Well Co. (NYSE:AMWL) by 7,673.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,083 shares of the company’s stock after buying an additional 181,715 shares during the period. Cubist Systematic Strategies LLC’s holdings in American Well were worth $60,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of American Well by 1.4% during the first quarter. Vanguard Group Inc. now owns 13,398,096 shares of the company’s stock worth $10,862,000 after buying an additional 190,922 shares during the period. Renaissance Technologies LLC raised its holdings in shares of American Well by 63.9% during the second quarter. Renaissance Technologies LLC now owns 6,833,500 shares of the company’s stock worth $2,220,000 after purchasing an additional 2,665,300 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of American Well by 80.5% during the second quarter. Acadian Asset Management LLC now owns 3,761,310 shares of the company’s stock worth $1,220,000 after purchasing an additional 1,677,505 shares during the last quarter. Rock Point Advisors LLC raised its holdings in shares of American Well by 1.9% during the second quarter. Rock Point Advisors LLC now owns 2,308,617 shares of the company’s stock worth $750,000 after purchasing an additional 43,500 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of American Well by 28.1% during the second quarter. AQR Capital Management LLC now owns 1,895,730 shares of the company’s stock worth $616,000 after purchasing an additional 416,387 shares during the last quarter. 56.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMWL has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of American Well in a report on Tuesday, September 24th. Wells Fargo & Company reduced their target price on shares of American Well from $40.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th.

Insider Buying and Selling at American Well

In other news, insider Kathy Johnson Weiler sold 7,266 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $57,183.42. Following the completion of the sale, the insider now owns 188,027 shares of the company’s stock, valued at $1,479,772.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Kathy Johnson Weiler sold 7,266 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $57,183.42. Following the completion of the sale, the insider now owns 188,027 shares of the company’s stock, valued at $1,479,772.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Shepardson sold 5,177 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total transaction of $40,742.99. Following the sale, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at $889,247.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,141 shares of company stock valued at $178,729. Corporate insiders own 12.80% of the company’s stock.

American Well Stock Performance

AMWL opened at $10.28 on Thursday. American Well Co. has a fifty-two week low of $5.00 and a fifty-two week high of $31.60. The company has a fifty day moving average of $9.02 and a two-hundred day moving average of $9.27. The stock has a market capitalization of $152.38 million, a price-to-earnings ratio of -0.42 and a beta of 1.05.

American Well (NYSE:AMWL) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($3.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.94) by $0.58. American Well had a negative net margin of 120.44% and a negative return on equity of 50.36%. The company had revenue of $62.79 million during the quarter, compared to analysts’ expectations of $60.78 million. During the same quarter in the previous year, the company earned ($4.60) earnings per share. On average, equities research analysts forecast that American Well Co. will post -13.46 earnings per share for the current year.

About American Well

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.