Bank of New York Mellon Corp Reduces Stake in Sharecare, Inc. (NASDAQ:SHCR)

Bank of New York Mellon Corp lessened its holdings in Sharecare, Inc. (NASDAQ:SHCR - Free Report) by 97.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,859 shares of the company's stock after selling 1,112,237 shares during the quarter. Bank of New York Mellon Corp's holdings in Sharecare were worth $40,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SHCR. Private Management Group Inc. boosted its holdings in shares of Sharecare by 127.4% in the 1st quarter. Private Management Group Inc. now owns 9,284,572 shares of the company's stock valued at $7,126,000 after buying an additional 5,201,296 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Sharecare by 47.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 635,288 shares of the company's stock worth $488,000 after purchasing an additional 203,843 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Sharecare by 1.1% during the first quarter. Vanguard Group Inc. now owns 17,151,060 shares of the company's stock worth $13,163,000 after purchasing an additional 189,029 shares in the last quarter. StoneX Group Inc. purchased a new stake in shares of Sharecare in the 1st quarter valued at about $102,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Sharecare in the 1st quarter valued at about $83,000. 35.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley boosted their price objective on Sharecare from $1.00 to $1.43 and gave the company an "equal weight" rating in a research note on Monday, June 24th. Canaccord Genuity Group reiterated a "hold" rating and set a $1.43 price target (down previously from $2.00) on shares of Sharecare in a research note on Friday, June 21st. Finally, Canaccord Genuity Group lowered shares of Sharecare from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 21st.

Sharecare Stock Performance

Sharecare stock traded down $0.01 during mid-day trading on Friday, reaching $1.41. 341,262 shares of the company were exchanged, compared to its average volume of 2,512,896. The firm has a market cap of $511.00 million, a PE ratio of -3.81 and a beta of 0.50. The firm's 50-day simple moving average is $1.39 and its two-hundred day simple moving average is $1.09. Sharecare, Inc. has a twelve month low of $0.48 and a twelve month high of $1.42.

Sharecare (NASDAQ:SHCR - Get Free Report) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The company had revenue of $94.27 million for the quarter, compared to analyst estimates of $90.16 million. Sharecare had a negative return on equity of 22.81% and a negative net margin of 33.64%. As a group, equities research analysts anticipate that Sharecare, Inc. will post -0.24 EPS for the current year.

Insider Transactions at Sharecare

In related news, insider Jeffrey T. Arnold sold 177,085 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $1.38, for a total transaction of $244,377.30. Following the completion of the transaction, the insider now directly owns 4,790,406 shares of the company's stock, valued at $6,610,760.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 29.27% of the company's stock.

Sharecare 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.