Talkspace, Inc. (NASDAQ:TALK) Receives $4.50 Average Price Target from Analysts

Shares of Talkspace, Inc. (NASDAQ:TALK - Get Free Report) have earned an average recommendation of "Buy" from the seven brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $4.50.

A number of research analysts have recently issued reports 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 issued a "buy" rating and a $5.00 target price for the company.

Talkspace Stock Down 3.2%

TALK traded down $0.09 during midday trading on Friday, reaching $2.68. 4,224,495 shares of the company's stock were exchanged, compared to its average volume of 1,964,157. The firm has a market capitalization of $448.42 million, a price-to-earnings ratio of 134.07 and a beta of 1.12. Talkspace has a one year low of $1.60 and a one year high of $4.36. The business has a 50-day simple moving average of $2.99 and a two-hundred day simple moving average of $3.06.

Insiders Place Their Bets

In other Talkspace news, CMO Katelyn Watson sold 39,000 shares of Talkspace stock in a transaction on Friday, June 6th. The shares were sold at an average price of $3.30, for a total transaction 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. The trade was a 8.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.50% of the company's stock.

Hedge Funds Weigh In On Talkspace

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of Talkspace by 15.9% in the 1st quarter. Rhumbline Advisers now owns 147,980 shares of the company's stock valued at $379,000 after buying an additional 20,261 shares during the period. Strs Ohio bought a new stake in Talkspace in the 1st quarter valued at $58,000. McAdam LLC bought a new stake in Talkspace in the 1st quarter valued at $44,000. Integrity Alliance LLC. bought a new stake in Talkspace in the 1st quarter valued at $35,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Talkspace by 2.8% in the 1st 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. Institutional investors and hedge funds own 57.37% of the company's stock.

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.