Shares of Talkspace, Inc. (NASDAQ:TALK – Get Free Report) have earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $5.5625.
TALK has been the topic of several analyst reports. Barclays dropped their price target on shares of Talkspace from $5.50 to $5.25 and set an “equal weight” rating on the stock in a research note on Monday, March 9th. Canaccord Genuity Group lowered shares of Talkspace from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings lowered shares of Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Northland Securities cut shares of Talkspace from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Needham & Company LLC cut shares of Talkspace from a “buy” rating to a “hold” rating in a report on Monday, March 9th.
Talkspace Trading Down 0.4%
Talkspace (NASDAQ:TALK – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06). Talkspace had a net margin of 0.49% and a return on equity of 1.03%. The firm had revenue of $61.68 million during the quarter, compared to analyst estimates of $63.32 million. Analysts predict that Talkspace will post 0.13 EPS for the current year.
Insider Activity
In other news, insider John Charles Reilly sold 55,144 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $5.21, for a total value of $287,300.24. Following the completion of the transaction, 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 legal filing with the SEC, 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 owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in shares of Talkspace by 102.1% in the first quarter. Royal Bank of Canada now owns 8,192 shares of the company’s stock valued at $42,000 after acquiring an additional 4,138 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Talkspace in the second quarter valued at approximately $28,000. Neuberger Berman Group LLC bought a new stake in Talkspace during the fourth quarter worth approximately $38,000. Quantinno Capital Management LP bought a new stake in Talkspace during the first quarter worth approximately $55,000. Finally, Vise Technologies Inc. bought a new stake in Talkspace during the fourth quarter worth approximately $40,000. 57.37% of the stock is currently 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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