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

Talkspace, Inc. (NASDAQ:TALK) insider John Charles Reilly sold 55,144 shares of the firm’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 value of $287,300.24. Following the transaction, the insider owned 1,057,975 shares of the company’s stock, valued at $5,512,049.75. This represents a 4.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Talkspace Price Performance

NASDAQ TALK opened at $5.20 on Thursday. The stock has a market capitalization of $871.05 million, a PE ratio of 520.52 and a beta of 1.05. The business has a 50 day simple moving average of $5.19 and a two-hundred day simple moving average of $4.53. Talkspace, Inc. has a 1-year low of $2.22 and a 1-year high of $5.23.

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

Institutional Investors Weigh In On Talkspace

A number of institutional investors and hedge funds have recently modified their holdings of TALK. AQR Capital Management LLC lifted its stake in shares of Talkspace by 963.3% during the 1st quarter. AQR Capital Management LLC now owns 464,599 shares of the company’s stock worth $1,189,000 after acquiring an additional 420,906 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Talkspace by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after acquiring an additional 3,924 shares during the last quarter. Strs Ohio bought a new stake in shares of Talkspace during the 1st quarter worth approximately $58,000. Creative Planning lifted its stake in shares of Talkspace by 24.4% during the 2nd quarter. Creative Planning now owns 80,904 shares of the company’s stock worth $225,000 after acquiring an additional 15,881 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Talkspace by 15.9% during the 2nd quarter. Rhumbline Advisers now owns 171,477 shares of the company’s stock worth $477,000 after acquiring an additional 23,497 shares during the last quarter. 57.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered Talkspace from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. William Blair lowered Talkspace from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Canaccord Genuity Group lowered Talkspace from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Barclays lowered their price objective on Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a research note on Monday, March 9th. Finally, KeyCorp lowered Talkspace from an “overweight” rating to a “hold” rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Talkspace presently has an average rating of “Hold” and an average price target 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.