Talkspace (NASDAQ:TALK) Announces Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Talkspace (NASDAQ:TALK) announced its quarterly earnings results on Thursday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04), Zacks reports. The business had revenue of $61.67 million for the quarter, compared to the consensus estimate of $67.93 million. Talkspace had a net margin of 0.49% and a return on equity of 1.03%.

Talkspace Trading Up 0.2%

Shares of TALK traded up $0.01 on Friday, reaching $5.22. 7,090,357 shares of the company’s stock traded hands, compared to its average volume of 1,378,855. The stock’s 50 day simple moving average is $5.21 and its two-hundred day simple moving average is $4.95. Talkspace has a 52-week low of $2.45 and a 52-week high of $5.25. The stock has a market cap of $874.40 million, a PE ratio of 522.52 and a beta of 1.10.

Insiders Place Their Bets

In related news, 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 value 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 represents a 4.95% decrease in their ownership of the stock. The transaction 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. 23.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TALK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Talkspace by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after purchasing an additional 3,924 shares during the period. Parallel Advisors LLC grew its stake in shares of Talkspace by 25.8% during 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 last quarter. Intech Investment Management LLC increased 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 period. Invesco Ltd. lifted its stake in shares of Talkspace by 10.1% in the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock valued at $319,000 after acquiring an additional 8,015 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in Talkspace during the 2nd quarter valued at about $28,000. 57.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Talkspace 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.