Talkspace, Inc. (NASDAQ:TALK) Given Consensus Rating of "Buy" by Brokerages

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) has been assigned an average recommendation of "Buy" from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $4.50.

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Talkspace in a research note on Tuesday, May 6th. Canaccord Genuity Group assumed coverage on shares of Talkspace in a research note on Thursday, April 3rd. They set a "buy" rating and a $5.00 price objective on the stock.

Talkspace Stock Performance

Shares of Talkspace stock opened at $2.48 on Thursday. The firm has a market cap of $414.95 million, a PE ratio of 124.06 and a beta of 1.07. The firm's 50-day simple moving average is $2.91 and its 200-day simple moving average is $3.00. Talkspace has a 1 year low of $1.60 and a 1 year high of $4.36.

Insider Buying and Selling

In other Talkspace news, 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 owned 433,997 shares in the company, valued at approximately $1,432,190.10. This represents a 8.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 23.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Talkspace by 2.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company's stock valued at $364,000 after acquiring an additional 3,924 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Talkspace by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 389,312 shares of the company's stock valued at $1,203,000 after acquiring an additional 10,835 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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. Financial Management Professionals Inc. bought a new stake in Talkspace during the first quarter worth approximately $29,000. Finally, ProShare Advisors LLC boosted its holdings in Talkspace by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 34,622 shares of the company's stock worth $107,000 after buying an additional 11,392 shares in the last quarter. Institutional investors own 57.37% 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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