Talkspace (NASDAQ:TALK) Reaches New 12-Month High – Still a Buy?

Shares of Talkspace, Inc. (NASDAQ:TALK) reached a new 52-week high during mid-day 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.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Talkspace in a research note on Friday. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Talkspace presently has a consensus rating of “Hold” and an average target price of $5.56.

Talkspace Stock Performance

The stock’s fifty day simple moving average is $5.21 and its 200-day simple moving average is $4.98.

Talkspace (NASDAQ:TALK) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Talkspace had a net margin of 0.08% and a return on equity of 0.17%. The firm had revenue of $61.67 million for the quarter, compared to the consensus estimate of $67.99 million. As a group, sell-side analysts anticipate that Talkspace, Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity at Talkspace

In other news, insider John Charles Reilly sold 55,144 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was 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 in the company, valued at $5,512,049.75. The trade was a 4.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 corporate insiders.

Institutional Trading of Talkspace

A number of institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Talkspace by 2.8% in 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. Parallel Advisors LLC lifted its holdings in Talkspace by 25.8% during the third 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 boosted its position in Talkspace by 102.1% during the first 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 during the period. Intech Investment Management LLC boosted its position in Talkspace by 11.9% during the fourth 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 during the period. Finally, Invesco Ltd. increased its stake in shares of Talkspace by 10.1% in the fourth quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock worth $319,000 after purchasing an additional 8,015 shares in the last quarter. 57.37% of the stock is owned by hedge funds and other institutional investors.

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.