Talkspace (NASDAQ:TALK) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Talkspace (NASDAQ:TALK) in a research report sent to investors on Monday morning, MarketBeat reports. The firm issued a hold rating on the stock.

Talkspace Trading Down 8.7 %

Talkspace stock opened at $2.10 on Monday. Talkspace has a 1-year low of $1.16 and a 1-year high of $3.92. The firm has a market capitalization of $356.34 million, a PE ratio of -26.25 and a beta of 1.23. The firm’s 50 day simple moving average is $2.68 and its 200 day simple moving average is $2.76.

Talkspace (NASDAQ:TALK) last posted its earnings results on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. Talkspace had a negative return on equity of 10.00% and a negative net margin of 7.33%. The business had revenue of $45.42 million during the quarter, compared to analysts’ expectations of $44.30 million. Research analysts forecast that Talkspace will post -0.04 earnings per share for the current year.

Insider Activity

In other Talkspace news, CMO Katelyn Watson sold 94,018 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $2.70, for a total value of $253,848.60. Following the sale, the chief marketing officer now owns 478,473 shares of the company’s stock, valued at approximately $1,291,877.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 18.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Talkspace

Hedge funds have recently bought and sold shares of the business. Shannon River Fund Management LLC purchased a new stake in shares of Talkspace in the fourth quarter worth $12,700,000. G2 Investment Partners Management LLC boosted its stake in Talkspace by 522.3% in the 4th quarter. G2 Investment Partners Management LLC now owns 2,874,417 shares of the company’s stock worth $7,301,000 after purchasing an additional 2,412,531 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Talkspace by 1.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,291,412 shares of the company’s stock valued at $21,060,000 after purchasing an additional 123,738 shares during the last quarter. Vanguard Group Inc. grew its position in Talkspace by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock valued at $21,012,000 after purchasing an additional 84,933 shares during the last quarter. Finally, Advisory Alpha LLC bought a new stake in Talkspace during the 1st quarter valued at about $296,000. Institutional investors own 57.37% of the company’s stock.

About Talkspace

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.