Talkspace, Inc. (NASDAQ:TALK) CMO Sells $128,700.00 in Stock

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) CMO Katelyn Watson sold 39,000 shares of the stock in a transaction on Friday, June 6th. The shares were 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 now owns 433,997 shares of the company's stock, valued at approximately $1,432,190.10. This represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Talkspace Trading Down 0.3%

NASDAQ:TALK traded down $0.01 on Monday, reaching $3.28. The stock had a trading volume of 1,064,065 shares, compared to its average volume of 1,921,537. The company has a 50-day moving average of $2.97 and a 200 day moving average of $3.10. The stock has a market cap of $548.79 million, a P/E ratio of 328.33 and a beta of 1.12. Talkspace, Inc. has a 12-month low of $1.60 and a 12-month high of $4.36.

Hedge Funds Weigh In On Talkspace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TALK. SG Americas Securities LLC boosted its position in Talkspace by 68.0% in the 4th quarter. SG Americas Securities LLC now owns 79,282 shares of the company's stock valued at $245,000 after buying an additional 32,080 shares during the last quarter. Belvedere Trading LLC purchased a new position in Talkspace in the 4th quarter valued at about $37,000. New York State Common Retirement Fund lifted its position in shares of Talkspace by 829.3% during the fourth quarter. New York State Common Retirement Fund now owns 38,100 shares of the company's stock worth $118,000 after purchasing an additional 34,000 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Talkspace by 27.9% during the fourth quarter. Bank of New York Mellon Corp now owns 336,086 shares of the company's stock worth $1,039,000 after purchasing an additional 73,332 shares during the last quarter. Finally, Bailard Inc. bought a new position in shares of Talkspace during the fourth quarter worth about $272,000. 57.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TALK. Canaccord Genuity Group began coverage on Talkspace in a report on Thursday, April 3rd. They issued a "buy" rating and a $5.00 price target for the company. Needham & Company LLC reiterated a "hold" rating on shares of Talkspace in a report on Tuesday, May 6th. Two 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $4.50.

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.