Sharecare (NASDAQ:SHCR) Reaches New 12-Month High – What’s Next?

Sharecare, Inc. (NASDAQ:SHCR)’s stock price reached a new 52-week high on Monday . The company traded as high as $1.43 and last traded at $1.43, with a volume of 231518 shares. The stock had previously closed at $1.42.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group downgraded shares of Sharecare from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 21st. Morgan Stanley boosted their price objective on Sharecare from $1.00 to $1.43 and gave the company an “equal weight” rating in a report on Monday, June 24th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $1.43 target price (down from $2.00) on shares of Sharecare in a report on Friday, June 21st.

Sharecare Stock Performance

The firm’s 50 day moving average is $1.40 and its 200-day moving average is $1.13. The stock has a market capitalization of $518.25 million, a price-to-earnings ratio of -3.86 and a beta of 0.51.

Sharecare (NASDAQ:SHCR) last posted its earnings results on Friday, August 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Sharecare had a negative return on equity of 22.81% and a negative net margin of 33.64%. The firm had revenue of $94.27 million for the quarter, compared to analysts’ expectations of $90.16 million. As a group, sell-side analysts forecast that Sharecare, Inc. will post -0.24 earnings per share for the current year.

Insider Activity

In related news, insider Jeffrey T. Arnold sold 177,085 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $1.38, for a total value of $244,377.30. Following the completion of the sale, the insider now owns 4,790,406 shares of the company’s stock, valued at approximately $6,610,760.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 29.27% of the company’s stock.

Institutional Investors Weigh In On Sharecare

Several institutional investors have recently bought and sold shares of SHCR. Vanguard Group Inc. lifted its position in shares of Sharecare by 1.1% in the first quarter. Vanguard Group Inc. now owns 17,151,060 shares of the company’s stock valued at $13,163,000 after acquiring an additional 189,029 shares in the last quarter. Private Management Group Inc. raised its stake in Sharecare by 12.1% in the 2nd quarter. Private Management Group Inc. now owns 10,408,903 shares of the company’s stock valued at $14,052,000 after purchasing an additional 1,124,331 shares during the last quarter. Millennium Management LLC lifted its holdings in Sharecare by 12,938.8% in the 2nd quarter. Millennium Management LLC now owns 6,092,772 shares of the company’s stock valued at $8,225,000 after purchasing an additional 6,046,044 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Sharecare by 7,841.4% during the 2nd quarter. Squarepoint Ops LLC now owns 2,511,468 shares of the company’s stock worth $3,390,000 after purchasing an additional 2,479,843 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Sharecare by 26.4% during the 2nd quarter. Renaissance Technologies LLC now owns 831,600 shares of the company’s stock worth $1,123,000 after purchasing an additional 173,800 shares during the last quarter. 35.08% of the stock is currently owned by institutional investors and hedge funds.

Sharecare Company Profile

Sharecare, Inc operates as a digital healthcare platform company. Its Sharecare platform connects people, patients, providers, employers, health plans, government organizations, and communities that optimize individual and population-wide well-being. The company offers enterprise solutions based on a software-as-a-service model that allows enterprise clients to message, motivate, and manage their populations, as well as measure their population progress; a suite of data and information-driven solutions; and life sciences solutions, which provides members with personalized information, programs, and resources to improve their health and well-being.