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

Shares of Talkspace, Inc. (NASDAQ:TALK) have been given an average rating of “Hold” by the nine brokerages that are covering the stock, Marketbeat Ratings reports. One 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 12-month target price among brokers that have issued ratings 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, August 7th.

Talkspace Price Performance

Shares of NASDAQ TALK opened at $5.25 on Friday. Talkspace has a 52-week low of $2.49 and a 52-week high of $5.25. The business has a 50-day moving average price of $5.23 and a 200 day moving average price of $5.14.

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

Insider Transactions at Talkspace

In other Talkspace news, insider John Reilly sold 55,144 shares of Talkspace stock in a transaction 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 transaction, the insider directly owned 1,057,975 shares in the company, valued at approximately $5,512,049.75. The trade was a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 23.50% of the company’s stock.

Institutional Trading of Talkspace

Hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC purchased a new position in shares of Talkspace in the 2nd quarter valued at approximately $28,000. Dynamic Technology Lab Private Ltd purchased a new position in Talkspace in the 3rd quarter valued at $35,000. Neuberger Berman Group LLC acquired a new position in Talkspace in the 4th quarter valued at $38,000. Engineers Gate Manager LP purchased a new position in Talkspace during the 2nd quarter worth $39,000. Finally, Vise Technologies Inc. purchased a new position in Talkspace during the 4th quarter worth $40,000. 57.37% of the stock is owned by institutional investors and hedge funds.

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.