John Charles Reilly Sells 55,144 Shares of Talkspace (NASDAQ:TALK) Stock

Talkspace, Inc. (NASDAQ:TALK) insider John Charles Reilly sold 55,144 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $5.21, for a total value of $287,300.24. Following the completion of the sale, the insider owned 1,057,975 shares of the company’s stock, valued at approximately $5,512,049.75. This represents a 4.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Talkspace Stock Performance

NASDAQ TALK remained flat at $5.20 on Tuesday. The company’s stock had a trading volume of 2,279,269 shares, compared to its average volume of 1,609,962. Talkspace, Inc. has a one year low of $2.22 and a one year high of $5.23. The company’s 50-day moving average is $5.19 and its 200-day moving average is $4.52. The firm has a market capitalization of $871.05 million, a PE ratio of 520.52 and a beta of 1.05.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). Talkspace had a net margin of 0.49% and a return on equity of 1.03%. The firm had revenue of $61.68 million during the quarter, compared to analysts’ expectations of $63.32 million. On average, equities research analysts anticipate that Talkspace, Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Talkspace

Several large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Talkspace by 2.8% during 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 during the last quarter. Parallel Advisors LLC grew its holdings in Talkspace by 25.8% during the third quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock worth $54,000 after acquiring an additional 4,000 shares during the period. Royal Bank of Canada grew its holdings 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 acquiring an additional 4,138 shares during the period. Intech Investment Management LLC grew its holdings 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 acquiring an additional 5,277 shares during the period. Finally, Invesco Ltd. grew its holdings in Talkspace by 10.1% during the fourth quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock worth $319,000 after acquiring an additional 8,015 shares during the period. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Wall Street Analyst Weigh In

TALK has been the subject of several analyst reports. Canaccord Genuity Group cut Talkspace from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Barclays cut their price target on Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a research note on Monday, March 9th. Northland Securities cut Talkspace from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. William Blair cut Talkspace from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Wall Street Zen cut Talkspace from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.56.

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.