Phyllis Gotlib, President of International at American Well Corp (NYSE:AMWL), has recently sold shares of the company, according to the latest SEC filings. The transactions, which occurred on May 1, 2024, involved the sale of 4,469 shares at a price of $0.5211 each, amounting to a total value of over $2,300.
The sales were part of an automatic transaction to cover tax liabilities related to the vesting of restricted stock units. It's important to note that these were not discretionary trades by Gotlib but were necessary to fulfill tax obligations.
Following these transactions, Gotlib still holds a significant number of shares in American Well Corp, with 2,455,110 shares owned directly and an additional 1,285,011 shares owned indirectly through her husband. This indicates a continued investment in the company's future.
Investors often keep a close eye on insider transactions as they can provide insights into an executive's perspective on the company's value. However, in this case, the sales appear to be routine and related to tax obligations rather than a reflection of the executive's outlook on the company's financial health or stock performance.
American Well Corp, with its headquarters in Boston, Massachusetts, operates in the business services sector and is incorporated in Delaware. The company's stock is traded on the New York Stock Exchange under the ticker symbol AMWL.
InvestingPro Insights
As American Well Corp (NYSE:AMWL) navigates the complexities of the business services sector, recent market data and analysis shed light on its financial position and stock performance. According to InvestingPro metrics, American Well Corp holds a market capitalization of $169.9 million. The company's revenue in the last twelve months as of Q1 2024 stood at $254.57 million, though it has experienced a decline in revenue growth by -8.08% in the same period. This underscores challenges in expanding its top-line financials.
InvestingPro Tips highlight several areas of concern and interest for investors. Notably, the company is quickly burning through cash, which is a critical factor for potential investors to consider. Moreover, American Well Corp does not pay a dividend to shareholders, which may influence investment strategies focused on income generation. Additionally, the company's stock has seen a significant downturn over the past year, with a price total return of -75.46%, reflecting market sentiment and potential headwinds faced by the company.
For investors seeking a comprehensive analysis and further insights, InvestingPro offers additional tips on American Well Corp. These insights could provide a deeper understanding of the company's financial health and future prospects. For those interested, a yearly or biyearly Pro and Pro+ subscription is available with an extra 10% off using the coupon code PRONEWS24. There are 10 more InvestingPro Tips available which can be accessed at: https://www.investing.com/pro/AMWL.
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