Talkspace, Inc. (NASDAQ:TALK) Receives $5.56 Average PT from Analysts

Talkspace, Inc. (NASDAQ:TALK) has been assigned an average rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $5.5625.

Separately, Weiss Ratings lowered shares of Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th.

Talkspace Price Performance

Shares of Talkspace stock opened at $5.21 on Friday. Talkspace has a 12-month low of $2.22 and a 12-month high of $5.25. The firm has a market capitalization of $872.73 million, a PE ratio of 521.52 and a beta of 1.07. The stock’s fifty day moving average is $5.21 and its 200-day moving average is $4.82.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06). The company had revenue of $61.68 million for the quarter, compared to analyst estimates of $63.32 million. Talkspace had a return on equity of 1.03% and a net margin of 0.49%. Analysts expect that Talkspace will post 0.13 EPS for the current year.

Insider Transactions at Talkspace

In other news, insider John Charles Reilly sold 40,289 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $5.20, for a total value of $209,502.80. Following the completion of the sale, the insider owned 1,017,686 shares in the company, valued at $5,291,967.20. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 23.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Talkspace by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock valued at $364,000 after acquiring an additional 3,924 shares in the last quarter. Parallel Advisors LLC lifted its stake in Talkspace by 25.8% in the third quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock valued at $54,000 after acquiring an additional 4,000 shares during the last quarter. Royal Bank of Canada grew its position in Talkspace by 102.1% in the first quarter. Royal Bank of Canada now owns 8,192 shares of the company’s stock worth $42,000 after acquiring an additional 4,138 shares in the last quarter. Intech Investment Management LLC grew its position in Talkspace by 11.9% in the fourth quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock worth $180,000 after acquiring an additional 5,277 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Talkspace by 10.1% during the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock worth $319,000 after purchasing an additional 8,015 shares during the last quarter. 57.37% of the stock is owned by institutional investors and hedge funds.

About Talkspace

Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.