Talkspace, Inc. (NASDAQ:TALK) Given Average Recommendation of “Hold” by Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have been given an average rating of “Hold” by the nine research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average 1 year 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 research report on Friday, August 7th.

Insider Buying and Selling

In other Talkspace news, insider John Reilly sold 55,144 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $5.21, for a total value of $287,300.24. Following the sale, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 hedge funds and other institutional investors have recently made changes to their positions in TALK. Royal Bank of Canada lifted its stake 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 purchasing an additional 4,138 shares during the last quarter. Cerity Partners LLC purchased a new position in Talkspace in the second quarter valued at approximately $28,000. California State Teachers Retirement System raised its holdings in Talkspace by 31.9% during the second quarter. California State Teachers Retirement System now owns 10,296 shares of the company’s stock worth $54,000 after purchasing an additional 2,491 shares in the last quarter. Neuberger Berman Group LLC acquired a new stake in Talkspace during the fourth quarter worth approximately $38,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of Talkspace during the 1st quarter worth approximately $55,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Talkspace Price Performance

TALK opened at $5.25 on Friday. The business has a fifty day moving average price of $5.23 and a 200 day moving average price of $5.14. Talkspace has a 12 month low of $2.49 and a 12 month high of $5.25.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). Talkspace had a net margin of 0.08% and a return on equity of 0.17%. The company had revenue of $61.67 million during the quarter, compared to analysts’ expectations of $67.99 million. Research analysts anticipate that Talkspace will post 0.14 EPS for the current year.

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.