Needham & Company LLC Reaffirms Hold Rating for Talkspace (NASDAQ:TALK)

Talkspace (NASDAQ:TALK)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a report released on Tuesday, Benzinga reports.

Talkspace Stock Down 1.4 %

Shares of Talkspace stock traded down $0.03 during trading on Tuesday, hitting $1.75. 3,127,261 shares of the stock traded hands, compared to its average volume of 1,361,400. The firm’s fifty day moving average is $2.28 and its 200-day moving average is $2.70. Talkspace has a 52 week low of $1.41 and a 52 week high of $3.92. The stock has a market cap of $296.10 million, a price-to-earnings ratio of -21.81 and a beta of 1.21.

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

Insider Activity

In other Talkspace news, CMO Katelyn Watson sold 94,018 shares of Talkspace stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $2.70, for a total transaction of $253,848.60. Following the completion of the transaction, the chief marketing officer now owns 478,473 shares in the company, valued at $1,291,877.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.40% of the stock is currently owned by company insiders.

Institutional Trading of Talkspace

Large investors have recently modified their holdings of the company. Principal Financial Group Inc. purchased a new position in shares of Talkspace in the second quarter valued at about $38,000. Fifth Lane Capital LP bought a new position in shares of Talkspace during the first quarter valued at approximately $55,000. Virtu Financial LLC bought a new position in shares of Talkspace during the first quarter valued at approximately $74,000. Counterpoint Mutual Funds LLC bought a new position in shares of Talkspace during the first quarter valued at approximately $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Talkspace during the second quarter valued at approximately $264,000. 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.