Insider Buying: Talkspace, Inc. (NASDAQ:TALK) Insider Purchases 5,470 Shares of Stock

Talkspace, Inc. (NASDAQ:TALK) insider John Charles Reilly purchased 5,470 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were purchased at an average price of $2.88 per share, for a total transaction of $15,753.60. Following the completion of the acquisition, the insider now owns 875,266 shares of the company’s stock, valued at $2,520,766.08. The trade was a 0.63 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Talkspace Trading Up 2.4 %

Shares of TALK traded up $0.07 during trading hours on Friday, reaching $2.82. 202,639 shares of the company traded hands, compared to its average volume of 1,743,622. The firm has a market cap of $475.52 million, a price-to-earnings ratio of 281.78 and a beta of 1.14. Talkspace, Inc. has a 12-month low of $1.60 and a 12-month high of $4.36. The stock’s fifty day moving average price is $3.28 and its 200 day moving average price is $2.83.

Talkspace (NASDAQ:TALK) last released its quarterly earnings data 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 firm had revenue of $48.72 million for the quarter, compared to analyst estimates of $49.94 million. On average, research analysts forecast that Talkspace, Inc. will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Talkspace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning grew its position in shares of Talkspace by 30.6% during the third quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after buying an additional 6,179 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Talkspace by 27.1% during the third quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock worth $86,000 after buying an additional 8,764 shares in the last quarter. Aigen Investment Management LP boosted its position in shares of Talkspace by 37.8% in the third quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock worth $74,000 after acquiring an additional 9,766 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Talkspace by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 389,312 shares of the company’s stock valued at $1,203,000 after buying an additional 10,835 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Talkspace by 27.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 50,177 shares of the company’s stock valued at $156,000 after acquiring an additional 10,849 shares in the last quarter. Institutional investors and hedge funds own 57.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TALK. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research report on Friday, February 21st. Northland Securities assumed coverage on Talkspace in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target for the company. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. KeyCorp initiated coverage on shares of Talkspace in a research note on Monday, December 9th. They set an “overweight” rating and a $4.50 target price for the company. Finally, Mizuho assumed coverage on Talkspace in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price objective for the company. 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. Based on data from MarketBeat, Talkspace has an average rating of “Buy” and a consensus target price of $4.38.

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.