Talkspace (NASDAQ:TALK) Coverage Initiated at Needham & Company LLC

Needham & Company LLC started coverage on shares of Talkspace (NASDAQ:TALK) in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage issued a hold rating on the stock.

Talkspace Price Performance

Shares of TALK opened at $2.15 on Monday. The firm has a market capitalization of $364.81 million, a PE ratio of -26.88 and a beta of 1.21. Talkspace has a 1-year low of $1.16 and a 1-year high of $3.92. The company’s fifty day moving average price is $2.62 and its 200-day moving average price is $2.75.

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

Insider Buying and Selling at Talkspace

In other Talkspace news, CMO Katelyn Watson sold 94,018 shares of the company’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 directly owns 478,473 shares of the company’s stock, valued at $1,291,877.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 18.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TALK. Shannon River Fund Management LLC acquired a new position in shares of Talkspace in the fourth quarter worth about $12,700,000. G2 Investment Partners Management LLC raised its position in shares of Talkspace by 522.3% in the fourth quarter. G2 Investment Partners Management LLC now owns 2,874,417 shares of the company’s stock worth $7,301,000 after acquiring an additional 2,412,531 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Talkspace by 1.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,291,412 shares of the company’s stock worth $21,060,000 after acquiring an additional 123,738 shares during the period. Vanguard Group Inc. raised its position in shares of Talkspace by 1.5% in the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock worth $21,012,000 after acquiring an additional 84,933 shares during the period. Finally, Advisory Alpha LLC acquired a new position in shares of Talkspace in the first quarter worth about $296,000. Institutional investors and hedge funds 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.