Talkspace, Inc. (NASDAQ:TALK) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Talkspace has a consensus analyst rating of Hold from nine brokerages, with one sell, seven hold, and one buy rating. The average 1-year price target is $5.56.
• The company recently reported quarterly earnings of -$0.04 per share, missing expectations, while revenue of $61.68 million also came in below estimates.
• Insider John Charles Reilly sold 55,144 shares at $5.21, and although institutional ownership remains high at 57.37%, the stock has been trading near its 12-month high of $5.25.

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) has earned an average rating of "Hold" from the nine brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $5.5625.

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

Talkspace Stock Down 0.2%

Shares of TALK opened at $5.21 on Friday. Talkspace has a twelve month low of $2.22 and a twelve month high of $5.25. The stock has a market cap of $872.73 million, a PE ratio of 521.52 and a beta of 1.07. The business's 50-day moving average price is $5.21 and its 200-day moving average price is $4.80.

Talkspace (NASDAQ:TALK - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.06). The business had revenue of $61.68 million during the quarter, compared to analysts' expectations 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 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider John Charles Reilly sold 55,144 shares of Talkspace stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $5.21, for a total value of $287,300.24. Following the transaction, the insider owned 1,057,975 shares in the company, valued at approximately $5,512,049.75. The trade was a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.

Hedge Funds Weigh In On Talkspace

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Talkspace by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,453,000 shares of the company's stock valued at $26,090,000 after purchasing an additional 483,012 shares during the period. Deutsche Bank AG boosted its position in shares of Talkspace by 14.6% during the fourth quarter. Deutsche Bank AG now owns 7,094,525 shares of the company's stock valued at $25,753,000 after purchasing an additional 905,304 shares in the last quarter. Geode Capital Management LLC grew its stake in Talkspace by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,413,825 shares of the company's stock worth $12,395,000 after purchasing an additional 15,436 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Talkspace by 38.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,060,055 shares of the company's stock worth $15,836,000 after purchasing an additional 855,015 shares during the period. Finally, Royce & Associates LP raised its holdings in Talkspace by 39.7% in the fourth quarter. Royce & Associates LP now owns 3,036,360 shares of the company's stock worth $11,022,000 after purchasing an additional 862,098 shares in the last quarter. 57.37% of the stock is owned by institutional investors.

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.

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