Millennium Management LLC Increases Holdings in Sharecare, Inc. (NASDAQ:SHCR)

Millennium Management LLC boosted its stake in shares of Sharecare, Inc. (NASDAQ:SHCR - Free Report) by 12,938.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,092,772 shares of the company's stock after buying an additional 6,046,044 shares during the quarter. Millennium Management LLC owned 1.68% of Sharecare worth $8,225,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Private Management Group Inc. boosted its position 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 worth $7,126,000 after buying an additional 5,201,296 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Sharecare by 7,841.4% in the second quarter. Squarepoint Ops LLC now owns 2,511,468 shares of the company's stock valued at $3,390,000 after purchasing an additional 2,479,843 shares during the last quarter. Gabelli Funds LLC acquired a new stake in shares of Sharecare in the second quarter valued at approximately $892,000. Sagefield Capital LP purchased a new position in shares of Sharecare during the 2nd quarter worth approximately $814,000. Finally, Wolverine Asset Management LLC raised its position in shares of Sharecare by 17,847.9% during the 2nd quarter. Wolverine Asset Management LLC now owns 550,463 shares of the company's stock worth $743,000 after purchasing an additional 547,396 shares during the last quarter. 35.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Sharecare Trading Up 0.7 %

Shares of Sharecare stock traded up $0.01 during trading hours on Thursday, reaching $1.43. 410,825 shares of the company's stock were exchanged, compared to its average volume of 2,448,763. Sharecare, Inc. has a 52-week low of $0.48 and a 52-week high of $1.43. The company has a fifty day moving average of $1.40 and a 200-day moving average of $1.11. The firm has a market capitalization of $518.25 million, a price-to-earnings ratio of -3.85 and a beta of 0.51.

Sharecare (NASDAQ:SHCR - Get Free Report) last released its 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 business had revenue of $94.27 million for the quarter, compared to analysts' expectations of $90.16 million. Sharecare had a negative return on equity of 22.81% and a negative net margin of 33.64%. On average, equities research analysts anticipate that Sharecare, Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeffrey T. Arnold sold 177,085 shares of the company's stock in a transaction that occurred on 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 owns 4,790,406 shares of the company's stock, valued at approximately $6,610,760.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 29.27% of the company's stock.

About Sharecare

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.