Talkspace (NASDAQ:TALK) Research Coverage Started at Needham & Company LLC

Equities research analysts at Needham & Company LLC assumed coverage on shares of Talkspace (NASDAQ:TALK) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a “hold” rating on the stock.

Talkspace Trading Up 3.8 %

Shares of NASDAQ:TALK opened at $2.18 on Monday. The firm has a 50 day moving average of $2.66 and a 200-day moving average of $2.76. The stock has a market capitalization of $369.90 million, a PE ratio of -27.25 and a beta of 1.21. Talkspace has a 12 month low of $1.16 and a 12 month high of $3.92.

Talkspace (NASDAQ:TALK) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $45.42 million during the quarter, compared to analysts’ expectations of $44.30 million. Talkspace had a negative net margin of 7.33% and a negative return on equity of 10.00%. On average, research analysts predict that Talkspace will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CMO Katelyn Watson sold 94,018 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $2.70, for a total transaction of $253,848.60. Following the completion of the transaction, the chief marketing officer now directly owns 478,473 shares in the company, valued at approximately $1,291,877.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 18.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Talkspace

Institutional investors have recently added to or reduced their stakes in the stock. Fifth Lane Capital LP acquired a new position in Talkspace during the 1st quarter worth approximately $55,000. Virtu Financial LLC acquired a new position in Talkspace during the 1st quarter worth approximately $74,000. Citigroup Inc. grew its holdings in Talkspace by 53,648.1% during the 3rd quarter. Citigroup Inc. now owns 43,536 shares of the company’s stock worth $85,000 after acquiring an additional 43,455 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Talkspace during the 1st quarter worth approximately $132,000. Finally, Advisory Alpha LLC bought a new stake in Talkspace during the 1st quarter worth approximately $296,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Talkspace Company Profile

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.