Talkspace, Inc. (NASDAQ:TALK) Receives Average Rating of "Hold" from Brokerages

Key Points

• Talkspace has a consensus “Hold” rating from nine analysts: seven holds, one sell and one buy. The average 12-month price target is $5.5625, while Weiss Ratings reaffirmed a “sell (d+)” rating.
• Talkspace reported quarterly revenue of $61.67 million and an EPS loss of $0.01, missing analyst estimates of $67.99 million in revenue and $0.01 EPS. The stock opened at $5.24, near its 52-week high of $5.25.
• Insider John Charles Reilly sold 55,144 shares for approximately $287,300 to cover tax withholding obligations, while institutional investors own 57.37% of the company.

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) has received a consensus rating of "Hold" from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $5.5625.

Separately, Weiss Ratings reissued a "sell (d+)" rating on shares of Talkspace in a report on Friday.

Talkspace Price Performance

TALK stock opened at $5.24 on Wednesday. Talkspace has a one year low of $2.45 and a one year high of $5.25. The company has a fifty day moving average price of $5.21 and a two-hundred day moving average price of $4.98.

Talkspace (NASDAQ:TALK - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $61.67 million during the quarter, compared to the consensus estimate of $67.99 million. Talkspace had a net margin of 0.08% and a return on equity of 0.17%. Research analysts forecast that Talkspace will post 0.13 EPS for the current year.

Insider Activity at Talkspace

In other news, insider John Charles Reilly sold 55,144 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $5.21, for a total transaction of $287,300.24. Following the transaction, the insider owned 1,057,975 shares in the company, valued at approximately $5,512,049.75. This trade represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 23.50% of the company's stock.

Institutional Trading of Talkspace

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Talkspace by 2.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company's stock valued at $364,000 after buying an additional 3,924 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of 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 buying an additional 4,000 shares during the period. Royal Bank of Canada grew its position in Talkspace by 102.1% during the first quarter. Royal Bank of Canada now owns 8,192 shares of the company's stock worth $42,000 after buying an additional 4,138 shares in the last quarter. Intech Investment Management LLC grew its position in Talkspace by 11.9% during the fourth quarter. Intech Investment Management LLC now owns 49,701 shares of the company's stock worth $180,000 after buying an additional 5,277 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Talkspace by 10.1% during the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company's stock worth $319,000 after acquiring an additional 8,015 shares during the period. 57.37% of the stock is currently 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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