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

Needham & Company LLC reiterated their hold rating on shares of Talkspace (NASDAQ:TALK) in a report issued on Wednesday morning, Benzinga reports.

Separately, Barclays boosted their target price on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday.

Talkspace Stock Down 0.3 %

NASDAQ:TALK opened at $3.17 on Wednesday. The stock’s 50 day moving average price is $2.21 and its two-hundred day moving average price is $2.35. Talkspace has a 12-month low of $1.41 and a 12-month high of $3.92. The firm has a market capitalization of $533.23 million, a price-to-earnings ratio of -63.60 and a beta of 1.21.

Talkspace (NASDAQ:TALK) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. The business had revenue of $47.40 million for the quarter, compared to the consensus estimate of $47.50 million. Talkspace had a negative net margin of 4.44% and a negative return on equity of 6.52%. During the same period in the prior year, the company posted ($0.03) earnings per share. Equities research analysts expect that Talkspace will post -0.04 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Ian Jiro Harris acquired 23,100 shares of the stock in a transaction dated Thursday, September 19th. The stock was bought at an average cost of $2.11 per share, for a total transaction of $48,741.00. Following the completion of the transaction, the chief financial officer now directly owns 397,657 shares of the company’s stock, valued at $839,056.27. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Talkspace

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Talkspace by 1.5% during the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock worth $21,012,000 after acquiring an additional 84,933 shares in the last quarter. Divisadero Street Capital Management LP raised its stake in Talkspace by 13.2% during the 2nd quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock worth $7,157,000 after buying an additional 361,717 shares during the period. Essex Investment Management Co. LLC grew its stake in Talkspace by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 1,339,494 shares of the company’s stock valued at $4,782,000 after acquiring an additional 20,613 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Talkspace during the second quarter worth approximately $921,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Talkspace by 2,480.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock worth $814,000 after purchasing an additional 340,030 shares in the last quarter. 57.37% of the stock is 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.