Talkspace’s (TALK) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Talkspace (NASDAQ:TALK) in a research report sent to investors on Wednesday, Benzinga reports.

Separately, Barclays increased their price objective on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th.

Talkspace Stock Up 0.3 %

Shares of TALK opened at $3.14 on Wednesday. Talkspace has a twelve month low of $1.41 and a twelve month high of $3.92. The company has a 50 day moving average of $2.29 and a 200-day moving average of $2.36.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $47.40 million during the quarter, compared to analysts’ expectations of $47.50 million. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. During the same period last year, the business earned ($0.03) EPS. On average, sell-side analysts predict that Talkspace will post -0.03 EPS for the current fiscal year.

Insider Activity

In related news, CFO Ian Jiro Harris acquired 23,100 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $2.11 per share, with a total value of $48,741.00. Following the acquisition, the chief financial officer now owns 397,657 shares in the company, valued at $839,056.27. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 21.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Talkspace

Several hedge funds have recently added to or reduced their stakes in TALK. Principal Financial Group Inc. acquired a new stake in Talkspace during the 2nd quarter valued at $38,000. Fifth Lane Capital LP acquired a new stake in Talkspace during the 1st quarter valued at $55,000. Creative Planning lifted its holdings in Talkspace by 30.6% during the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after purchasing an additional 6,179 shares during the last quarter. Virtu Financial LLC acquired a new stake in Talkspace during the 1st quarter valued at $74,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in Talkspace during the 3rd quarter valued at $84,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Talkspace Company Profile

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.