Insider Buying: Talkspace, Inc. (NASDAQ:TALK) CEO Purchases 75,000 Shares of Stock

Talkspace, Inc. (NASDAQ:TALK) CEO Jon R. Cohen acquired 75,000 shares of Talkspace stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $2.86 per share, for a total transaction of $214,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,267,980 shares of the company’s stock, valued at approximately $6,486,422.80. This represents a 3.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Talkspace Stock Down 2.8 %

Shares of TALK stock traded down $0.08 during trading hours on Monday, hitting $2.78. 2,652,129 shares of the company were exchanged, compared to its average volume of 1,756,474. The firm has a fifty day moving average of $3.27 and a 200 day moving average of $2.86. Talkspace, Inc. has a 1 year low of $1.60 and a 1 year high of $4.36. The firm has a market cap of $469.61 million, a PE ratio of 278.28 and a beta of 1.14.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. The company had revenue of $48.72 million for the quarter, compared to the consensus estimate of $49.94 million. Analysts expect that Talkspace, Inc. will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TALK. Creative Planning raised its holdings in shares of Talkspace by 30.6% in the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after purchasing an additional 6,179 shares during the period. Aigen Investment Management LP raised its holdings in Talkspace by 37.8% in the third quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock valued at $74,000 after buying an additional 9,766 shares during the period. Royce & Associates LP purchased a new position in Talkspace in the third quarter valued at approximately $1,045,000. Sugar Maple Asset Management LLC acquired a new position in Talkspace during the third quarter valued at approximately $33,000. Finally, Intech Investment Management LLC purchased a new stake in Talkspace during the third quarter worth approximately $56,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TALK. Northland Securities initiated coverage on shares of Talkspace in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 target price for the company. KeyCorp started coverage on shares of Talkspace in a research report on Monday, December 9th. They issued an “overweight” rating and a $4.50 price objective for the company. Mizuho began coverage on shares of Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research note on Friday, February 21st. Finally, Northland Capmk raised Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Talkspace presently has an average rating of “Buy” and an average target price of $4.38.

Talkspace Company Profile

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.