Talkspace (NASDAQ:TALK) Reaches New 12-Month High – Here’s Why

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Talkspace in a research note on Friday, August 7th. 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 has a consensus rating of “Hold” and a consensus target price of $5.56.

Talkspace Stock Performance

The firm’s 50-day simple moving average is $5.21 and its 200 day simple moving average is $5.00.

Talkspace (NASDAQ:TALK) last released its 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). Talkspace had a return on equity of 0.17% and a net margin of 0.08%.The business had revenue of $61.67 million for the quarter, compared to the consensus estimate of $67.99 million. Equities research analysts anticipate that Talkspace, Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling at Talkspace

In related news, insider John Charles Reilly sold 40,289 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $5.20, for a total transaction of $209,502.80. Following the completion of the sale, the insider directly owned 1,017,686 shares in the company, valued at $5,291,967.20. This represents a 3.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 23.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Talkspace by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock valued at $364,000 after purchasing an additional 3,924 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Talkspace by 25.8% during the 3rd quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock valued at $54,000 after purchasing an additional 4,000 shares during the last quarter. Royal Bank of Canada increased its position in Talkspace by 102.1% during the 1st quarter. Royal Bank of Canada now owns 8,192 shares of the company’s stock worth $42,000 after purchasing an additional 4,138 shares in the last quarter. Intech Investment Management LLC increased its position in Talkspace by 11.9% during the 4th quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock worth $180,000 after purchasing an additional 5,277 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Talkspace by 10.1% in the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock valued at $319,000 after purchasing an additional 8,015 shares during the last quarter. Institutional investors and hedge funds own 57.37% of the company’s stock.

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.