Talkspace's (TALK) "Hold" Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Talkspace (NASDAQ:TALK - Free Report) in a report published on Wednesday morning, Benzinga reports.

Separately, Barclays boosted their price target on Talkspace from $2.00 to $3.00 and gave the company an "equal weight" rating in a research note on Tuesday.

Talkspace Price Performance

Talkspace stock traded down $0.01 during mid-day trading on Wednesday, hitting $3.17. 3,770,599 shares of the company's stock traded hands, compared to its average volume of 1,596,651. Talkspace has a fifty-two week low of $1.41 and a fifty-two week high of $3.92. The stock has a market cap of $533.23 million, a price-to-earnings ratio of -63.60 and a beta of 1.21. The firm has a 50 day simple moving average of $2.21 and a two-hundred day simple moving average of $2.35.

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 return on equity of 6.52% and a negative net margin of 4.44%. The business had revenue of $47.40 million during the quarter, compared to the consensus estimate of $47.50 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. On average, research analysts anticipate that Talkspace will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ian Jiro Harris acquired 19,500 shares of Talkspace stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average cost of $2.20 per share, for a total transaction of $42,900.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 21.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in Talkspace by 2,480.3% during the second quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company's stock valued at $814,000 after purchasing an additional 340,030 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Talkspace during the second quarter valued at approximately $921,000. Divisadero Street Capital Management LP raised its position in Talkspace by 13.2% during the second quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company's stock valued at $7,157,000 after purchasing an additional 361,717 shares during the period. Vanguard Group Inc. grew its stake in shares of Talkspace by 1.5% during the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company's stock valued at $21,012,000 after buying an additional 84,933 shares during the last quarter. Finally, Advisory Alpha LLC bought a new position in shares of Talkspace during the first quarter valued at approximately $296,000. 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.