Geode Capital Management LLC Trims Stock Holdings in American Well Co. (NYSE:AMWL)

Geode Capital Management LLC reduced its position in American Well Co. (NYSE:AMWL) by 94.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,003 shares of the company’s stock after selling 2,691,117 shares during the quarter. Geode Capital Management LLC owned about 0.96% of American Well worth $1,394,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMWL. BNP Paribas Financial Markets purchased a new stake in American Well in the 3rd quarter valued at $95,000. PDT Partners LLC acquired a new position in American Well in the third quarter valued at $107,000. Walleye Capital LLC purchased a new stake in shares of American Well in the third quarter valued at about $167,000. HighTower Advisors LLC acquired a new stake in shares of American Well during the third quarter worth about $355,000. Finally, Rock Point Advisors LLC grew 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 buying an additional 43,500 shares during the last quarter. 56.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on AMWL shares. Morgan Stanley reduced their price objective on American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of American Well in a report on Thursday, October 31st.

American Well Stock Down 0.7 %

Shares of NYSE:AMWL opened at $7.35 on Friday. American Well Co. has a fifty-two week low of $5.00 and a fifty-two week high of $29.00. The firm’s 50-day simple moving average is $8.44 and its 200-day simple moving average is $8.63. The company has a market cap of $112.60 million, a price-to-earnings ratio of -0.50 and a beta of 1.11.

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.