Geode Capital Management LLC Decreases Stake in American Well Co. (NYSE:AMWL)

Geode Capital Management LLC decreased its holdings in American Well Co. (NYSE:AMWL) by 94.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 147,003 shares of the company’s stock after selling 2,691,117 shares during the quarter. Geode Capital Management LLC’s holdings in American Well were worth $1,394,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Cubist Systematic Strategies LLC grew its holdings in shares of American Well by 7,673.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock worth $60,000 after acquiring an additional 181,715 shares during the period. AQR Capital Management LLC grew its holdings in American Well by 28.1% in the second quarter. AQR Capital Management LLC now owns 1,895,730 shares of the company’s stock valued at $616,000 after purchasing an additional 416,387 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of American Well in the third quarter valued at $95,000. HighTower Advisors LLC acquired a new position in shares of American Well during the 3rd quarter worth $355,000. Finally, PDT Partners LLC purchased a new stake in shares of American Well in the 3rd quarter worth about $107,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

Wall Street Analysts Forecast Growth

AMWL has been the subject of several recent research reports. Morgan Stanley dropped their target price on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research note on Thursday, October 31st.

American Well Trading Down 0.7 %

American Well stock opened at $7.35 on Friday. The stock has a 50-day moving average price of $8.44 and a 200 day moving average price of $8.63. American Well Co. has a 52 week low of $5.00 and a 52 week high of $29.00. The stock has a market cap of $112.60 million, a PE ratio of -0.50 and a beta of 1.11.

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.