Sharecare (NASDAQ:SHCR) Sees Strong Trading Volume - Time to Buy?

Sharecare, Inc. (NASDAQ:SHCR - Get Free Report) saw strong trading volume on Tuesday . 2,461,485 shares traded hands during mid-day trading, a decline of 2% from the previous session's volume of 2,513,661 shares.The stock last traded at $1.43 and had previously closed at $1.43.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SHCR. Canaccord Genuity Group lowered Sharecare from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 21st. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $1.43 target price (down from $2.00) on shares of Sharecare in a research report on Friday, June 21st. Finally, Morgan Stanley increased their target price on Sharecare from $1.00 to $1.43 and gave the company an "equal weight" rating in a research note on Monday, June 24th.

Sharecare Price Performance

The firm has a market cap of $518.25 million, a P/E ratio of -3.86 and a beta of 0.51. The firm's 50-day moving average price is $1.40 and its 200 day moving average price is $1.13.

Sharecare (NASDAQ:SHCR - Get Free Report) last released its earnings results on Friday, August 9th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $90.16 million. Analysts forecast that Sharecare, Inc. will post -0.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jeffrey T. Arnold sold 177,085 shares of the business's 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 sale, the insider now owns 4,790,406 shares of the company's stock, valued at $6,610,760.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 29.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DRW Securities LLC acquired a new stake in shares of Sharecare in the second quarter valued at approximately $38,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Sharecare in the 2nd quarter valued at approximately $42,000. XTX Topco Ltd bought a new stake in Sharecare during the 2nd quarter valued at $42,000. Panagora Asset Management Inc. acquired a new position in Sharecare during the 2nd quarter worth $56,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Sharecare during the second quarter valued at $60,000. Institutional investors and hedge funds own 35.08% 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.