Talkspace (NASDAQ:TALK) Insider John Charles Reilly Sells 55,144 Shares of Stock

Talkspace, Inc. (NASDAQ:TALK) insider John Charles Reilly sold 55,144 shares of Talkspace stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $5.21, for a total value of $287,300.24. Following the sale, the insider owned 1,057,975 shares in the company, valued at $5,512,049.75. This trade represents a 4.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Talkspace Stock Performance

TALK opened at $5.20 on Wednesday. The business’s 50-day simple moving average is $5.19 and its 200-day simple moving average is $4.52. Talkspace, Inc. has a one year low of $2.22 and a one year high of $5.23. The stock has a market capitalization of $871.05 million, a P/E ratio of 520.52 and a beta of 1.05.

Talkspace (NASDAQ:TALK) last posted its earnings results on Monday, May 11th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). Talkspace had a return on equity of 1.03% and a net margin of 0.49%.The firm had revenue of $61.68 million for the quarter, compared to analyst estimates of $63.32 million. On average, equities research analysts forecast that Talkspace, Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. KeyCorp cut Talkspace from an “overweight” rating to a “hold” rating in a research report on Tuesday, March 10th. William Blair cut Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Needham & Company LLC cut Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Northland Securities cut Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings cut Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.56.

Hedge Funds Weigh In On Talkspace

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Talkspace by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,453,000 shares of the company’s stock valued at $26,090,000 after acquiring an additional 483,012 shares during the period. Deutsche Bank AG increased its position in Talkspace by 14.6% in the 4th quarter. Deutsche Bank AG now owns 7,094,525 shares of the company’s stock valued at $25,753,000 after acquiring an additional 905,304 shares during the period. Geode Capital Management LLC increased its position in Talkspace by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,413,825 shares of the company’s stock valued at $12,395,000 after acquiring an additional 15,436 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Talkspace by 38.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,060,055 shares of the company’s stock valued at $15,836,000 after acquiring an additional 855,015 shares during the period. Finally, Royce & Associates LP boosted its holdings in shares of Talkspace by 39.7% in the fourth quarter. Royce & Associates LP now owns 3,036,360 shares of the company’s stock valued at $11,022,000 after acquiring an additional 862,098 shares in the last quarter. Institutional investors and hedge funds 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.