Talkspace (NASDAQ:TALK) Shares Up 4.4%

Talkspace, Inc. (NASDAQ:TALK)’s stock price traded up 4.4% during trading on Friday . The company traded as high as $3.10 and last traded at $3.10. 234,517 shares traded hands during trading, a decline of 81% from the average session volume of 1,241,990 shares. The stock had previously closed at $2.97.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TALK shares. TheStreet raised shares of Talkspace from a “d” rating to a “c-” rating in a report on Thursday, February 22nd. Barclays raised their price objective on Talkspace from $2.50 to $3.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd.

Talkspace Price Performance

The company’s 50-day moving average is $3.12 and its 200 day moving average is $2.48.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. Talkspace had a negative net margin of 12.78% and a negative return on equity of 16.06%. The business had revenue of $42.42 million for the quarter, compared to analyst estimates of $38.30 million. During the same quarter in the prior year, the business posted ($0.08) EPS. As a group, research analysts anticipate that Talkspace, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Talkspace

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Talkspace by 174.6% in the first quarter. Vanguard Group Inc. now owns 4,734,995 shares of the company’s stock worth $8,239,000 after purchasing an additional 3,010,380 shares during the last quarter. XTX Topco Ltd purchased a new position in Talkspace during the 1st quarter worth approximately $53,000. State Street Corp lifted its stake in Talkspace by 4.4% during the 1st quarter. State Street Corp now owns 844,173 shares of the company’s stock valued at $1,469,000 after acquiring an additional 35,535 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Talkspace by 44.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,081,589 shares of the company’s stock valued at $8,842,000 after acquiring an additional 1,571,383 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Talkspace in the 1st quarter valued at $1,914,000. Hedge funds and other 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.