Talkspace (NASDAQ:TALK) Posts Earnings Results, Misses Estimates By $0.04 EPS

Talkspace (NASDAQ:TALK) issued its quarterly earnings results on Thursday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04), Zacks reports. The firm had revenue of $61.67 million for the quarter, compared to analysts’ expectations of $67.93 million. Talkspace had a net margin of 0.49% and a return on equity of 1.03%.

Talkspace Price Performance

Shares of TALK traded up $0.01 during midday trading on Friday, hitting $5.22. 7,090,357 shares of the company traded hands, compared to its average volume of 1,378,855. Talkspace has a one year low of $2.45 and a one year high of $5.25. The firm has a market cap of $874.40 million, a P/E ratio of 522.52 and a beta of 1.10. The stock has a 50-day moving average of $5.21 and a 200-day moving average of $4.95.

Insider Activity at Talkspace

In related news, insider John Charles Reilly sold 55,144 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $5.21, for a total transaction of $287,300.24. Following the sale, the insider owned 1,057,975 shares of the company’s stock, valued at approximately $5,512,049.75. This represents a 4.95% decrease in their position. The transaction was disclosed in a legal 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. Company insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Talkspace by 5.4% in the third quarter. Vanguard Group Inc. now owns 9,453,000 shares of the company’s stock worth $26,090,000 after buying an additional 483,012 shares in the last quarter. Deutsche Bank AG grew its position in Talkspace by 14.6% during the fourth quarter. Deutsche Bank AG now owns 7,094,525 shares of the company’s stock worth $25,753,000 after buying an additional 905,304 shares in the last quarter. Geode Capital Management LLC increased its stake in Talkspace by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,413,825 shares of the company’s stock worth $12,395,000 after acquiring an additional 15,436 shares during the last quarter. Metavasi Capital LP increased its stake in Talkspace by 77.3% in the 4th quarter. Metavasi Capital LP now owns 2,704,577 shares of the company’s stock worth $9,818,000 after acquiring an additional 1,179,156 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Talkspace by 11.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,415,657 shares of the company’s stock valued at $8,767,000 after acquiring an additional 251,381 shares in the last quarter. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.56.

Talkspace Company Profile

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.