Talkspace (NASDAQ:TALK) Announces Earnings Results

Talkspace (NASDAQ:TALK) announced its earnings results on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04), Zacks reports. Talkspace had a net margin of 0.49% and a return on equity of 1.03%. The company had revenue of $61.67 million for the quarter, compared to the consensus estimate of $67.93 million.

Talkspace Trading Up 0.2%

NASDAQ TALK traded up $0.01 on Friday, hitting $5.22. 7,090,357 shares of the company’s stock traded hands, compared to its average volume of 1,378,855. The firm’s 50-day moving average price is $5.21 and its two-hundred day moving average price is $4.95. The firm has a market capitalization of $874.40 million, a PE ratio of 522.52 and a beta of 1.10. Talkspace has a 1-year low of $2.45 and a 1-year high of $5.25.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.56.

Insider Buying and Selling at Talkspace

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

Hedge Funds Weigh In On Talkspace

A number of institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in shares of Talkspace by 963.3% in the first quarter. AQR Capital Management LLC now owns 464,599 shares of the company’s stock worth $1,189,000 after buying an additional 420,906 shares during the last quarter. 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. Strs Ohio purchased a new position in Talkspace during the first quarter valued at approximately $58,000. Creative Planning lifted its holdings in Talkspace by 24.4% in the second quarter. Creative Planning now owns 80,904 shares of the company’s stock valued at $225,000 after acquiring an additional 15,881 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Talkspace by 15.9% during the second quarter. Rhumbline Advisers now owns 171,477 shares of the company’s stock worth $477,000 after purchasing an additional 23,497 shares in the last quarter. Hedge funds and other institutional investors own 57.37% of the company’s stock.

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.