Talkspace’s (TALK) “Hold” Rating Reiterated at Needham & Company LLC

Talkspace (NASDAQ:TALK)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports.

Talkspace Price Performance

Shares of Talkspace stock traded down $0.03 during trading hours on Tuesday, hitting $1.75. The company’s stock had a trading volume of 3,127,261 shares, compared to its average volume of 1,361,400. Talkspace has a 12 month low of $1.41 and a 12 month high of $3.92. The stock has a 50 day moving average of $2.28 and a 200 day moving average of $2.70. The company has a market capitalization of $296.10 million, a PE ratio of -21.81 and a beta of 1.21.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. Talkspace had a negative return on equity of 10.00% and a negative net margin of 7.33%. The company had revenue of $45.42 million during the quarter, compared to the consensus estimate of $44.30 million. Equities analysts expect that Talkspace will post -0.04 EPS for the current year.

Insider Buying and Selling

In related news, CMO Katelyn Watson sold 94,018 shares of the stock in a transaction dated Tuesday, May 21st. The stock was 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 $1,291,877.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 18.40% of the stock is owned by corporate insiders.

Institutional Trading of Talkspace

A number of hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its position in shares of Talkspace by 1.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,291,412 shares of the company’s stock valued at $21,060,000 after buying an additional 123,738 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Talkspace by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock worth $21,012,000 after purchasing an additional 84,933 shares during the last quarter. Shannon River Fund Management LLC acquired a new stake in Talkspace during the 4th quarter worth approximately $12,700,000. G2 Investment Partners Management LLC lifted its holdings in Talkspace by 522.3% during the 4th quarter. G2 Investment Partners Management LLC now owns 2,874,417 shares of the company’s stock worth $7,301,000 after purchasing an additional 2,412,531 shares during the last quarter. Finally, Essex Investment Management Co. LLC lifted its holdings in Talkspace by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 1,339,494 shares of the company’s stock worth $4,782,000 after purchasing an additional 20,613 shares during the last quarter. 57.37% of the stock is owned by institutional investors and hedge funds.

About Talkspace

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.