Talkspace (NASDAQ:TALK) Sets New 12-Month High – Here’s What Happened

Talkspace, Inc. (NASDAQ:TALK) reached a new 52-week high on Monday . The stock traded as high as $5.24 and last traded at $5.2350, with a volume of 100741 shares trading hands. The stock had previously closed at $5.23.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.56.

Talkspace Price Performance

The stock has a market cap of $874.40 million, a price-to-earnings ratio of 522.52 and a beta of 1.07. The stock’s 50 day simple moving average is $5.20 and its two-hundred day simple moving average is $4.78.

Talkspace (NASDAQ:TALK) last announced 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). Talkspace had a net margin of 0.49% and a return on equity of 1.03%. The business had revenue of $61.68 million during the quarter, compared to analyst estimates of $63.32 million. As a group, analysts predict that Talkspace, Inc. will post 0.13 earnings per share for the current year.

Insider Transactions at Talkspace

In other Talkspace news, insider John Charles Reilly sold 55,144 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $5.21, for a total transaction of $287,300.24. Following the completion of the transaction, the insider owned 1,057,975 shares in the company, valued at $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 available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Talkspace

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its position in shares of Talkspace by 963.3% during the 1st quarter. AQR Capital Management LLC now owns 464,599 shares of the company’s stock worth $1,189,000 after buying an additional 420,906 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 acquiring an additional 3,924 shares during the period. Strs Ohio acquired a new position in Talkspace during the first quarter worth $58,000. Creative Planning raised its stake in Talkspace by 24.4% during the second quarter. Creative Planning now owns 80,904 shares of the company’s stock worth $225,000 after acquiring an additional 15,881 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Talkspace by 15.9% during the second quarter. Rhumbline Advisers now owns 171,477 shares of the company’s stock valued at $477,000 after acquiring an additional 23,497 shares during the period. 57.37% of the stock is currently owned by institutional investors.

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.