Valeo Financial Advisors LLC Invests $1.30 Million in Talkspace, Inc. (NASDAQ:TALK)

Valeo Financial Advisors LLC purchased a new stake in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 507,118 shares of the company's stock, valued at approximately $1,298,000. Valeo Financial Advisors LLC owned about 0.30% of Talkspace at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in shares of Talkspace during the 1st quarter valued at about $29,000. Cibc World Markets Corp acquired a new stake in shares of Talkspace during the 4th quarter valued at about $36,000. Ameriprise Financial Inc. acquired a new stake in shares of Talkspace during the 4th quarter valued at about $53,000. Oxford Asset Management LLP acquired a new stake in shares of Talkspace during the 4th quarter valued at about $71,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Talkspace during the 4th quarter valued at about $72,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Talkspace Stock Performance

TALK opened at $2.73 on Wednesday. The business has a 50 day moving average price of $2.96 and a 200 day moving average price of $3.02. Talkspace, Inc. has a twelve month low of $1.60 and a twelve month high of $4.36. The firm has a market cap of $456.78 million, a P/E ratio of 136.57 and a beta of 1.07.

Analyst Ratings Changes

TALK has been the subject of several research reports. Needham & Company LLC reiterated a "hold" rating on shares of Talkspace in a report on Tuesday, May 6th. Canaccord Genuity Group initiated coverage on Talkspace in a report on Thursday, April 3rd. They set a "buy" rating and a $5.00 price target for the company. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Talkspace has a consensus rating of "Buy" and an average target price of $4.50.

Insiders Place Their Bets

In related news, CMO Katelyn Watson sold 39,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $3.30, for a total value of $128,700.00. Following the completion of the sale, the chief marketing officer directly owned 433,997 shares in the company, valued at approximately $1,432,190.10. The trade was a 8.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 23.50% of the company's stock.

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.

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