Talkspace (NASDAQ:TALK) Shares Down 4.4% - Should You Sell?

Talkspace, Inc. (NASDAQ:TALK - Get Free Report)'s share price was down 4.4% on Wednesday . The company traded as low as $3.25 and last traded at $3.26. Approximately 1,204,663 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 1,907,606 shares. The stock had previously closed at $3.41.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TALK shares. Needham & Company LLC restated a "hold" rating on shares of Talkspace in a research report on Tuesday, May 6th. Canaccord Genuity Group began coverage on Talkspace in a research report on Thursday, April 3rd. They set a "buy" rating and a $5.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $4.50.

Talkspace Stock Up 1.2%

The firm has a market cap of $550.47 million, a price-to-earnings ratio of 329.33 and a beta of 1.12. The company's 50-day moving average price is $2.96 and its 200-day moving average price is $3.10.

Insider Activity at Talkspace

In other Talkspace news, CMO Katelyn Watson sold 39,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $3.30, for a total value of $128,700.00. Following the transaction, the chief marketing officer now owns 433,997 shares in the company, valued at approximately $1,432,190.10. This trade represents a 8.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 23.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Talkspace

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Talkspace by 6.5% in the first quarter. Vanguard Group Inc. now owns 7,650,330 shares of the company's stock valued at $19,585,000 after purchasing an additional 469,543 shares in the last quarter. Deutsche Bank AG boosted its stake in Talkspace by 10.6% during the first quarter. Deutsche Bank AG now owns 5,104,995 shares of the company's stock worth $13,069,000 after buying an additional 489,510 shares during the last quarter. AWM Investment Company Inc. grew its holdings in Talkspace by 3.9% in the 1st quarter. AWM Investment Company Inc. now owns 3,968,500 shares of the company's stock valued at $10,159,000 after buying an additional 150,000 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Talkspace by 2.1% in the 4th 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 during the last quarter. Finally, Voss Capital LP acquired a new stake in shares of Talkspace in the 4th quarter worth $3,981,000. Institutional investors and hedge funds 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.