Talkspace (NASDAQ:TALK) Receives Hold Rating from Needham & Company LLC

Talkspace (NASDAQ:TALK - Get Free Report)'s stock had its "hold" rating reaffirmed by research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports.

Separately, Canaccord Genuity Group began coverage on Talkspace in a report on Thursday, April 3rd. They set a "buy" rating and a $5.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Talkspace has a consensus rating of "Buy" and a consensus price target of $4.50.

Talkspace Stock Performance

Shares of TALK traded down $0.02 during trading hours on Tuesday, hitting $3.12. 2,511,118 shares of the company were exchanged, compared to its average volume of 1,857,269. Talkspace has a 52 week low of $1.60 and a 52 week high of $4.36. The firm's 50 day moving average is $2.82 and its 200-day moving average is $3.10. The company has a market cap of $524.68 million, a PE ratio of 310.91 and a beta of 1.13.

Talkspace (NASDAQ:TALK - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. The company had revenue of $48.72 million for the quarter, compared to the consensus estimate of $49.94 million. As a group, equities analysts forecast that Talkspace will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jon R. Cohen purchased 75,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $2.86 per share, with a total value of $214,500.00. Following the completion of the purchase, the chief executive officer now directly owns 2,267,980 shares of the company's stock, valued at $6,486,422.80. The trade was a 3.42 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 82,270 shares of company stock valued at $235,312 in the last 90 days. 21.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in shares of Talkspace by 2.9% during the 4th 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 during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Talkspace by 27.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 50,177 shares of the company's stock worth $156,000 after purchasing an additional 10,849 shares during the period. Financial Management Professionals Inc. acquired a new stake in shares of Talkspace during the first quarter worth $29,000. ProShare Advisors LLC increased its holdings in Talkspace by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 34,622 shares of the company's stock valued at $107,000 after purchasing an additional 11,392 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in Talkspace in the fourth quarter valued at about $36,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

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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