Talkspace, Inc. (NASDAQ:TALK) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have been given a consensus recommendation of “Buy” by the seven analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $4.50.

A number of brokerages recently weighed in on TALK. Needham & Company LLC reissued 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 target price on the stock.

Talkspace Trading Up 1.9%

Shares of Talkspace stock opened at $2.75 on Friday. The company has a fifty day simple moving average of $3.00 and a 200-day simple moving average of $3.05. The stock has a market cap of $460.13 million, a price-to-earnings ratio of 137.57 and a beta of 1.12. Talkspace has a 12-month low of $1.60 and a 12-month high of $4.36.

Insider Activity at Talkspace

In related news, CMO Katelyn Watson sold 39,000 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $3.30, for a total transaction of $128,700.00. Following the transaction, the chief marketing officer now owns 433,997 shares of the company’s stock, valued at $1,432,190.10. This trade represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 23.50% of the stock is owned by insiders.

Institutional Trading of Talkspace

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its holdings in shares of Talkspace by 103.1% in the fourth quarter. Deutsche Bank AG now owns 4,615,485 shares of the company’s stock valued at $14,262,000 after purchasing an additional 2,342,913 shares during the period. Voss Capital LP purchased a new position in Talkspace in the 4th quarter valued at $3,981,000. Arrowstreet Capital Limited Partnership purchased a new position in Talkspace in the 4th quarter valued at $3,371,000. Balyasny Asset Management L.P. acquired a new position in Talkspace in the 4th quarter valued at $3,179,000. Finally, CenterBook Partners LP raised its position in Talkspace by 410.5% during the 1st quarter. CenterBook Partners LP now owns 1,155,006 shares of the company’s stock worth $2,957,000 after buying an additional 928,744 shares during the last quarter. 57.37% of the stock is owned by hedge funds and other institutional investors.

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.