Talkspace (NASDAQ:TALK) Shares Up 5.2% - What's Next?

Shares of Talkspace, Inc. (NASDAQ:TALK - Get Free Report) traded up 5.2% during mid-day trading on Wednesday . The company traded as high as $3.10 and last traded at $3.14. 596,209 shares traded hands during trading, a decline of 69% from the average session volume of 1,928,490 shares. The stock had previously closed at $2.98.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group began coverage on shares of Talkspace in a research report on Thursday, April 3rd. They set a "buy" rating and a $5.00 price objective for the company. Needham & Company LLC reissued 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $4.50.

Talkspace Stock Performance

The stock's 50 day moving average price is $3.00 and its 200 day moving average price is $3.09. The company has a market capitalization of $476.85 million, a P/E ratio of 285.29 and a beta of 1.12.

Insider Activity

In related news, 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 transaction of $128,700.00. Following the transaction, the chief marketing officer now directly owns 433,997 shares of the company's stock, valued at $1,432,190.10. This represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock. MetLife Investment Management LLC boosted its stake in Talkspace by 87.9% during the fourth quarter. MetLife Investment Management LLC now owns 77,294 shares of the company's stock worth $239,000 after acquiring an additional 36,154 shares in the last quarter. Geode Capital Management LLC boosted its stake in Talkspace by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company's stock worth $9,512,000 after acquiring an additional 63,072 shares in the last quarter. ProShare Advisors LLC boosted its stake 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 acquiring an additional 11,392 shares in the last quarter. Two Sigma Investments LP boosted its stake in Talkspace by 14.2% during the fourth quarter. Two Sigma Investments LP now owns 668,723 shares of the company's stock worth $2,066,000 after acquiring an additional 82,921 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Talkspace by 87.3% during the fourth quarter. JPMorgan Chase & Co. now owns 987,220 shares of the company's stock worth $3,051,000 after acquiring an additional 460,248 shares in the last quarter. 57.37% of the stock is owned by institutional investors.

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.