Talkspace (NASDAQ:TALK) Trading Down 4.8% - Here's What Happened

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) shares fell 4.8% on Monday . The company traded as low as $2.94 and last traded at $2.99. 300,379 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,595,744 shares. The stock had previously closed at $3.14.

Analysts Set New Price Targets

A number of brokerages have weighed in on TALK. Barclays upped their price objective on shares of Talkspace from $2.00 to $3.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Needham & Company LLC restated a "hold" rating on shares of Talkspace in a report on Wednesday, October 30th.

Talkspace Stock Down 0.3 %

The stock's fifty day moving average price is $2.29 and its 200 day moving average price is $2.35. The stock has a market cap of $526.50 million, a PE ratio of -313.00 and a beta of 1.10.

Talkspace (NASDAQ:TALK - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. The firm had revenue of $47.40 million for the quarter, compared to analysts' expectations of $47.50 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. On average, equities research analysts expect that Talkspace, Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ian Jiro Harris bought 19,500 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The shares were bought at an average price of $2.20 per share, for a total transaction of $42,900.00. Following the completion of the acquisition, the chief financial officer now owns 347,057 shares of the company's stock, valued at $763,525.40. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 21.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. bought a new position in Talkspace in the second quarter worth approximately $38,000. Virtu Financial LLC bought a new stake in shares of Talkspace during the 1st quarter valued at $74,000. Creative Planning raised its position in shares of Talkspace by 30.6% during the 3rd quarter. Creative Planning now owns 26,386 shares of the company's stock valued at $55,000 after purchasing an additional 6,179 shares during the period. Clear Harbor Asset Management LLC bought a new stake in shares of Talkspace during the 3rd quarter valued at $84,000. Finally, SG Americas Securities LLC bought a new stake in shares of Talkspace during the 3rd quarter valued at $99,000. 57.37% of the stock is currently owned by institutional investors.

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.