Talkspace (NASDAQ:TALK) Sees Strong Trading Volume – What’s Next?

Talkspace, Inc. (NASDAQ:TALK) saw unusually-high trading volume on Friday . 5,509,779 shares were traded during trading, an increase of 101% from the previous session’s volume of 2,742,282 shares.The stock last traded at $5.2050 and had previously closed at $5.21.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.56.

Talkspace Stock Down 0.1%

The firm has a market cap of $871.89 million, a PE ratio of 521.02 and a beta of 1.10. The firm’s fifty day simple moving average is $5.21 and its two-hundred day simple moving average is $4.95.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06). Talkspace had a net margin of 0.49% and a return on equity of 1.03%. The firm had revenue of $61.68 million for the quarter, compared to the consensus estimate of $63.32 million. As a group, analysts anticipate that Talkspace, Inc. will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Talkspace news, insider John Charles Reilly sold 55,144 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $5.21, for a total transaction of $287,300.24. Following the completion of the sale, the insider directly owned 1,057,975 shares of the company’s stock, valued at $5,512,049.75. This trade represents a 4.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Talkspace

A number of hedge funds and other institutional investors have recently modified their holdings of TALK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Talkspace by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock valued at $364,000 after purchasing an additional 3,924 shares in the last quarter. Parallel Advisors LLC grew its holdings in Talkspace by 25.8% during the 3rd quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock valued at $54,000 after buying an additional 4,000 shares in the last quarter. Royal Bank of Canada increased its stake in Talkspace by 102.1% in the 1st quarter. Royal Bank of Canada now owns 8,192 shares of the company’s stock worth $42,000 after acquiring an additional 4,138 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Talkspace by 11.9% during the 4th quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock worth $180,000 after acquiring an additional 5,277 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Talkspace by 10.1% during the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock valued at $319,000 after acquiring an additional 8,015 shares during the last quarter. Institutional investors own 57.37% of the company’s stock.

About Talkspace

Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.