Katelyn Watson Sells 39,000 Shares of Talkspace, Inc. (NASDAQ:TALK) Stock

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) CMO Katelyn Watson sold 39,000 shares of the company's stock in a transaction dated 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 transaction, the chief marketing officer now owns 433,997 shares in the company, valued at $1,432,190.10. This represents a 8.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Talkspace Price Performance

NASDAQ:TALK traded up $0.04 during mid-day trading on Friday, reaching $3.29. The stock had a trading volume of 1,418,885 shares, compared to its average volume of 1,920,434. The business's 50 day moving average is $2.96 and its 200 day moving average is $3.10. Talkspace, Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $4.36. The stock has a market cap of $550.47 million, a P/E ratio of 329.33 and a beta of 1.12.

Hedge Funds Weigh In On Talkspace

A number of hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG grew its holdings in Talkspace by 103.1% during the fourth quarter. Deutsche Bank AG now owns 4,615,485 shares of the company's stock valued at $14,262,000 after purchasing an additional 2,342,913 shares during the last quarter. Voss Capital LP acquired a new position in Talkspace during the fourth quarter valued at approximately $3,981,000. Arrowstreet Capital Limited Partnership acquired a new position in Talkspace during the fourth quarter valued at approximately $3,371,000. Balyasny Asset Management L.P. acquired a new position in Talkspace during the fourth quarter valued at approximately $3,179,000. Finally, CenterBook Partners LP grew its holdings in Talkspace by 410.5% during the first quarter. CenterBook Partners LP now owns 1,155,006 shares of the company's stock valued at $2,957,000 after purchasing an additional 928,744 shares during the last quarter. Institutional investors and hedge funds own 57.37% of the company's stock.

Analyst Upgrades and Downgrades

TALK has been the topic of a number of research reports. Canaccord Genuity Group initiated coverage on Talkspace in a report on Thursday, April 3rd. They issued a "buy" rating and a $5.00 target price on the stock. Needham & Company LLC restated a "hold" rating on shares of Talkspace in a report on Tuesday, May 6th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $4.50.

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.

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