Talkspace (NASDAQ:TALK) Reaches New 1-Year High – What’s Next?

Shares of Talkspace, Inc. (NASDAQ:TALK) reached a new 52-week high during trading on Monday . The stock traded as high as $5.24 and last traded at $5.2350, with a volume of 100741 shares. The stock had previously closed at $5.23.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.56.

Talkspace Trading Up 0.1%

The company has a market capitalization of $876.93 million, a P/E ratio of 524.02 and a beta of 1.07. The stock’s fifty day moving average is $5.20 and its 200 day moving average is $4.76.

Talkspace (NASDAQ:TALK) last released its quarterly earnings data 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 business had revenue of $61.68 million during the quarter, compared to analysts’ expectations of $63.32 million. Talkspace had a return on equity of 1.03% and a net margin of 0.49%. On average, analysts expect that Talkspace, Inc. will post 0.13 EPS for the current fiscal year.

Insider Activity at Talkspace

In other news, insider John Charles Reilly sold 40,289 shares of Talkspace stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $5.20, for a total value of $209,502.80. Following the completion of the transaction, the insider owned 1,017,686 shares of the company’s stock, valued at $5,291,967.20. The trade was a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Talkspace

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC grew 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 valued at $1,189,000 after purchasing an additional 420,906 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Talkspace by 2.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after purchasing an additional 3,924 shares in the last quarter. Strs Ohio bought a new stake in Talkspace during the first quarter valued at about $58,000. Creative Planning raised its holdings in Talkspace by 24.4% during the second quarter. Creative Planning now owns 80,904 shares of the company’s stock valued at $225,000 after acquiring an additional 15,881 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Talkspace by 15.9% in the second quarter. Rhumbline Advisers now owns 171,477 shares of the company’s stock valued at $477,000 after acquiring an additional 23,497 shares in 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.