Insider Selling: Talkspace (NASDAQ:TALK) Insider Sells $287,300.24 in Stock

Talkspace, Inc. (NASDAQ:TALK) insider John Charles Reilly sold 55,144 shares of the company’s 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 completion of the sale, the insider directly owned 1,057,975 shares of the company’s stock, valued at $5,512,049.75. The trade was a 4.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Talkspace Stock Performance

NASDAQ TALK opened at $5.21 on Friday. The company has a market cap of $872.73 million, a PE ratio of 521.52 and a beta of 1.05. The firm’s 50 day moving average price is $5.19 and its 200-day moving average price is $4.55. Talkspace, Inc. has a 52-week low of $2.22 and a 52-week high of $5.23.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.04) 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 the consensus estimate of $63.32 million. Talkspace had a return on equity of 1.03% and a net margin of 0.49%. On average, analysts forecast that Talkspace, Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cerity Partners LLC acquired a new position in Talkspace during the 2nd quarter valued at about $28,000. Xponance Inc. acquired a new stake in Talkspace in the third quarter worth about $31,000. Nierenberg Investment Management Company Inc. purchased a new stake in shares of Talkspace during the third quarter worth about $32,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Talkspace during the third quarter worth about $35,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of Talkspace during the fourth quarter valued at about $38,000. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Needham & Company LLC downgraded Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. KeyCorp downgraded shares of Talkspace from an “overweight” rating to a “hold” rating in a report on Tuesday, March 10th. Wall Street Zen lowered shares of Talkspace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Canaccord Genuity Group cut shares of Talkspace from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, William Blair downgraded shares of Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.56.

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.