Talkspace (NASDAQ:TALK) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Talkspace shares saw unusually high activity, with 5.51 million shares traded—101% above the prior session—while the stock was essentially flat at $5.205.
• Analyst sentiment remains cautious: Weiss Ratings downgraded the stock to “sell,” while the broader consensus is “Hold” with a $5.56 price target. Talkspace also missed quarterly expectations, reporting a $0.04 loss per share versus an expected $0.02 profit and revenue below estimates.
• An insider sold 40,289 shares worth about $209,500, though insiders still own 23.5% of the company. Institutional investors hold 57.37% of Talkspace shares and several funds recently increased their positions.

Shares of Talkspace, Inc. (NASDAQ:TALK - Get Free Report) saw unusually-strong trading volume on Friday . 5,509,779 shares were traded during trading, an increase of 101% from the previous session's volume of 2,742,282 shares.The stock last traded at $5.2050 and had previously closed at $5.21.

Analyst Ratings Changes

Separately, Weiss Ratings cut Talkspace from a "hold (c)" rating to a "sell (d+)" rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $5.56.

Talkspace Trading Down 0.1%

The firm has a market capitalization of $871.89 million, a P/E ratio of 521.02 and a beta of 1.10. The business's 50 day simple moving average is $5.21 and its two-hundred day simple moving average is $4.95.

Talkspace (NASDAQ:TALK - Get Free Report) last issued its earnings results 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 firm had revenue of $61.68 million during the quarter, compared to the consensus estimate of $63.32 million. Talkspace had a return on equity of 1.03% and a net margin of 0.49%. Analysts predict that Talkspace, Inc. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Talkspace 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 transaction of $209,502.80. Following the sale, the insider directly owned 1,017,686 shares in the company, valued at approximately $5,291,967.20. This trade represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 23.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Talkspace by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company's stock valued at $364,000 after purchasing an additional 3,924 shares during the period. Parallel Advisors LLC lifted its stake in shares of Talkspace by 25.8% in the 3rd quarter. Parallel Advisors LLC now owns 19,500 shares of the company's stock worth $54,000 after purchasing an additional 4,000 shares during the period. Royal Bank of Canada lifted its stake in shares of Talkspace by 102.1% in the 1st quarter. Royal Bank of Canada now owns 8,192 shares of the company's stock worth $42,000 after purchasing an additional 4,138 shares during the period. Intech Investment Management LLC boosted its holdings in shares of 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 buying an additional 5,277 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Talkspace by 10.1% in the fourth quarter. Invesco Ltd. now owns 87,765 shares of the company's stock worth $319,000 after buying an additional 8,015 shares during 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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