Shares of Talkspace, Inc. (NASDAQ:TALK – Get Free Report) have earned a consensus recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $5.5625.
Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Talkspace in a report on Friday.
Get Our Latest Stock Analysis on Talkspace
Talkspace Price Performance
Talkspace (NASDAQ:TALK – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Talkspace had a return on equity of 0.17% and a net margin of 0.08%.The firm had revenue of $61.67 million for the quarter, compared to analyst estimates of $67.99 million. Sell-side analysts anticipate that Talkspace will post 0.13 EPS for the current year.
Insider Buying and Selling
In other Talkspace news, insider John Charles Reilly sold 55,144 shares of the business’s stock in a transaction that occurred on 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 directly owned 1,057,975 shares in the company, valued at $5,512,049.75. The trade was 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 currently owned by corporate insiders.
Hedge Funds Weigh In On Talkspace
Several hedge funds and other institutional investors have recently modified their holdings of the business. Capula Management Ltd bought a new stake in shares of Talkspace during the 1st quarter worth $2,588,000. ABC Arbitrage SA bought a new position in Talkspace in the first quarter valued at about $2,009,000. Hsbc Holdings PLC bought a new position in Talkspace in the first quarter valued at about $1,703,000. Occam Crest Management LP raised its stake in Talkspace by 77.7% during the fourth quarter. Occam Crest Management LP now owns 1,830,000 shares of the company’s stock worth $6,643,000 after acquiring an additional 800,000 shares in the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new position in Talkspace during the first quarter worth about $15,536,000. Institutional investors own 57.37% of the company’s stock.
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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