Talkspace, Inc. (NASDAQ:TALK) Given Average Rating of “Hold” by Analysts

Talkspace, Inc. (NASDAQ:TALK) has been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the company, Marketbeat reports. One investment 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 twelve-month target price among analysts that have covered the stock in the last year is $5.5625.

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

Insiders Place Their Bets

In related news, insider John Charles Reilly sold 55,144 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $5.21, for a total value of $287,300.24. Following the completion of the transaction, the insider directly owned 1,057,975 shares in the company, valued at $5,512,049.75. The trade was a 4.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.50% of the stock is currently owned by insiders.

Institutional Trading of Talkspace

Institutional investors and hedge funds have recently modified their holdings of the business. Regent Peak Wealth Advisors LLC purchased a new position in shares of Talkspace in the second quarter worth $85,000. Carmignac Gestion purchased a new stake in shares of Talkspace during the first quarter valued at $759,000. Verus Capital Partners LLC purchased a new stake in shares of Talkspace during the first quarter valued at $83,000. Groupe la Francaise bought a new stake in Talkspace in the 1st quarter worth about $3,378,000. Finally, Bank of America Corp DE increased its holdings in Talkspace by 63.2% in the 1st quarter. Bank of America Corp DE now owns 235,250 shares of the company’s stock worth $1,217,000 after buying an additional 91,097 shares in the last quarter. Institutional investors own 57.37% of the company’s stock.

Talkspace Stock Down 0.2%

Talkspace stock opened at $5.21 on Friday. The company has a market capitalization of $872.73 million, a P/E ratio of 521.52 and a beta of 1.07. The stock’s 50 day moving average is $5.21 and its 200 day moving average is $4.80. Talkspace has a twelve month low of $2.22 and a twelve month high of $5.25.

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

Talkspace Company Profile

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.