Insider Buying: Talkspace, Inc. (NASDAQ:TALK) CEO Purchases $214,500.00 in Stock

Talkspace, Inc. (NASDAQ:TALK) CEO Jon R. Cohen bought 75,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $2.86 per share, with a total value of $214,500.00. Following the completion of the transaction, the chief executive officer now owns 2,267,980 shares in the company, valued at approximately $6,486,422.80. This trade represents a 3.42 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Talkspace Stock Down 3.8 %

Shares of TALK stock opened at $2.76 on Thursday. Talkspace, Inc. has a twelve month low of $1.60 and a twelve month high of $4.36. The company has a market cap of $466.23 million, a P/E ratio of 276.28 and a beta of 1.15. The business has a fifty day simple moving average of $3.26 and a 200 day simple moving average of $2.87.

Talkspace (NASDAQ:TALK) last posted its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $48.72 million during the quarter, compared to the consensus estimate of $49.94 million. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. As a group, equities research analysts anticipate that Talkspace, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TALK. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research report on Friday, February 21st. KeyCorp began coverage on Talkspace in a research report on Monday, December 9th. They set an “overweight” rating and a $4.50 target price for the company. Northland Securities assumed coverage on Talkspace in a research report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 target price for the company. Finally, Mizuho assumed coverage on Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective for the company. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $4.38.

Hedge Funds Weigh In On Talkspace

Several large investors have recently bought and sold shares of the company. Creative Planning raised its position in Talkspace by 30.6% in the third quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after purchasing an additional 6,179 shares during the last quarter. MetLife Investment Management LLC raised its position in Talkspace by 27.1% in the third quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock valued at $86,000 after purchasing an additional 8,764 shares during the last quarter. Aigen Investment Management LP raised its position in Talkspace by 37.8% in the third quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock valued at $74,000 after purchasing an additional 9,766 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in 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 purchasing an additional 10,835 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in 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 purchasing an additional 10,849 shares during the last quarter. 57.37% of the stock is currently 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.