Talkspace (NASDAQ:TALK) Reaches New 52-Week High – Time to Buy?

Talkspace, Inc. (NASDAQ:TALK) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $5.25 and last traded at $5.2450, with a volume of 333697 shares. The stock had previously closed at $5.24.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Talkspace in a report on Friday. One investment 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.56.

Talkspace Stock Up 0.2%

The firm has a 50 day simple moving average of $5.21 and a 200 day simple moving average of $4.98.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $61.67 million for the quarter, compared to the consensus estimate of $67.99 million. Talkspace had a net margin of 0.08% and a return on equity of 0.17%. On average, equities analysts expect that Talkspace, Inc. will post 0.13 earnings per share for the current year.

Insider Buying and Selling

In other Talkspace news, insider John Charles Reilly sold 55,144 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 1,057,975 shares of the company’s stock, valued at $5,512,049.75. This trade represents a 4.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Talkspace

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Talkspace by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,453,000 shares of the company’s stock worth $26,090,000 after acquiring an additional 483,012 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Talkspace by 14.6% during 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Talkspace by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,413,825 shares of the company’s stock worth $12,395,000 after purchasing an additional 15,436 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Talkspace by 38.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,060,055 shares of the company’s stock worth $15,836,000 after purchasing an additional 855,015 shares in the last quarter. Finally, Royce & Associates LP increased its position 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 worth $11,022,000 after purchasing an additional 862,098 shares during the last quarter. Hedge funds and other institutional investors 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.