Talkspace (NASDAQ:TALK) Sees Strong Trading Volume – Should You Buy?

Talkspace, Inc. (NASDAQ:TALK) saw an uptick in trading volume on Friday . Approximately 5,509,779 shares were traded during mid-day trading, an increase of 101% from the previous session’s volume of 2,742,282 shares.The stock last traded at $5.2050 and had previously closed at $5.21.

Wall Street Analyst Weigh In

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

Talkspace Stock Performance

The stock has a market cap of $874.40 million, a PE ratio of 522.00 and a beta of 1.10. The firm’s 50-day moving average is $5.21 and its 200 day moving average is $4.95.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). The business had revenue of $61.67 million for the quarter, compared to analysts’ expectations of $67.99 million. Talkspace had a return on equity of 1.03% and a net margin of 0.49%. On average, sell-side analysts predict that Talkspace, Inc. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Talkspace

In related news, insider John Charles Reilly sold 40,289 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $5.20, for a total transaction of $209,502.80. Following the transaction, the insider owned 1,017,686 shares of the company’s stock, valued at $5,291,967.20. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 23.50% of the company’s stock.

Institutional Trading of Talkspace

Several institutional investors and hedge funds have recently added to or reduced their stakes in TALK. Vanguard Group Inc. lifted its position in Talkspace by 5.4% during 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 period. Deutsche Bank AG increased its holdings in shares of Talkspace by 14.6% in the fourth quarter. Deutsche Bank AG now owns 7,094,525 shares of the company’s stock valued at $25,753,000 after purchasing an additional 905,304 shares during the period. Geode Capital Management LLC raised its stake 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 during the last quarter. Arrowstreet Capital Limited Partnership raised its stake 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 during the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of Talkspace by 39.7% during 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 period. 57.37% of the stock is owned by hedge funds and other institutional investors.

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.