Needham & Company LLC Reiterates “Hold” Rating for Talkspace (NASDAQ:TALK)

Needham & Company LLC reissued their hold rating on shares of Talkspace (NASDAQ:TALK) in a research report released on Tuesday,Benzinga reports.

Separately, Canaccord Genuity Group initiated coverage on Talkspace in a report on Thursday, April 3rd. They set a “buy” rating and a $5.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $4.50.

Talkspace Stock Performance

Shares of Talkspace stock opened at $3.04 on Tuesday. Talkspace has a one year low of $1.60 and a one year high of $4.36. The company has a market cap of $511.21 million, a P/E ratio of 303.80 and a beta of 1.13. The firm has a fifty day moving average of $2.84 and a two-hundred day moving average of $3.10.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. The firm had revenue of $48.72 million during the quarter, compared to the consensus estimate of $49.94 million. As a group, equities analysts predict that Talkspace will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jon R. Cohen purchased 75,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $2.86 per share, with a total value of $214,500.00. Following the purchase, the chief executive officer now directly owns 2,267,980 shares of the company’s stock, valued at $6,486,422.80. This represents a 3.42 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have bought a total of 82,270 shares of company stock worth $235,312 in the last quarter. Company insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Talkspace

A number of large investors have recently added to or reduced their stakes in TALK. JPMorgan Chase & Co. grew its holdings in Talkspace by 448.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock valued at $1,101,000 after buying an additional 430,861 shares during the last quarter. Evernest Financial Advisors LLC purchased a new stake in shares of Talkspace in the fourth quarter valued at $337,000. Barclays PLC boosted its stake in shares of Talkspace by 322.3% during the third quarter. Barclays PLC now owns 175,990 shares of the company’s stock valued at $368,000 after acquiring an additional 134,313 shares during the last quarter. Geode Capital Management LLC increased its position in Talkspace by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company’s stock worth $9,512,000 after purchasing an additional 63,072 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in Talkspace by 87.9% in the 4th quarter. MetLife Investment Management LLC now owns 77,294 shares of the company’s stock valued at $239,000 after purchasing an additional 36,154 shares during the last quarter. 57.37% of the stock is owned by institutional investors and hedge funds.

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.