Needham & Company LLC Initiates Coverage on Talkspace (NASDAQ:TALK)

Investment analysts at Needham & Company LLC began coverage on shares of Talkspace (NASDAQ:TALK) in a report released on Monday, Marketbeat.com reports. The firm set a “hold” rating on the stock.

Talkspace Trading Up 3.8 %

Shares of Talkspace stock opened at $2.18 on Monday. The stock has a market capitalization of $369.90 million, a price-to-earnings ratio of -27.25 and a beta of 1.21. Talkspace has a 1-year low of $1.16 and a 1-year high of $3.92. The firm’s 50-day moving average price is $2.66 and its two-hundred day moving average price is $2.76.

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

Insider Activity

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

Institutional Trading of Talkspace

Several hedge funds have recently modified their holdings of TALK. Fifth Lane Capital LP bought a new stake in shares of Talkspace during the first quarter valued at approximately $55,000. Virtu Financial LLC bought a new position in Talkspace in the first quarter valued at approximately $74,000. Citigroup Inc. boosted its stake in Talkspace by 53,648.1% in the third quarter. Citigroup Inc. now owns 43,536 shares of the company’s stock valued at $85,000 after acquiring an additional 43,455 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in Talkspace in the first quarter valued at approximately $132,000. Finally, Advisory Alpha LLC bought a new position in Talkspace in the first quarter valued at approximately $296,000. 57.37% of the stock is owned by institutional investors.

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.