Insider Buying: Talkspace, Inc. (NASDAQ:TALK) CEO Buys 75,000 Shares of Stock

Talkspace, Inc. (NASDAQ:TALK) CEO Jon R. Cohen bought 75,000 shares of Talkspace stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $2.86 per share, for a total transaction of $214,500.00. Following the purchase, the chief executive officer now directly owns 2,267,980 shares in the company, valued at approximately $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 through this link.

Talkspace Stock Down 2.8 %

Shares of TALK stock opened at $2.78 on Tuesday. Talkspace, Inc. has a 12-month low of $1.60 and a 12-month high of $4.36. The firm has a fifty day moving average of $3.27 and a 200-day moving average of $2.86. The firm has a market capitalization of $469.61 million, a price-to-earnings ratio of 278.28 and a beta of 1.14.

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

Institutional Trading of Talkspace

Large investors have recently bought and sold shares of the business. Creative Planning lifted its stake 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 buying an additional 6,179 shares in the last quarter. Aigen Investment Management LP raised its holdings in shares of Talkspace by 37.8% during the third quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock worth $74,000 after acquiring an additional 9,766 shares during the period. Royce & Associates LP bought a new stake in Talkspace in the 3rd quarter valued at $1,045,000. Sugar Maple Asset Management LLC acquired a new position in Talkspace in the 3rd quarter worth $33,000. Finally, Intech Investment Management LLC bought a new position in Talkspace during the 3rd quarter worth about $56,000. 57.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.