Talkspace, Inc. (NASDAQ:TALK) CEO Jon R. Cohen Acquires 75,000 Shares

Talkspace, Inc. (NASDAQ:TALK) CEO Jon R. Cohen bought 75,000 shares of the stock in a transaction that occurred on 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 owns 2,267,980 shares of the company’s stock, valued at $6,486,422.80. This trade represents a 3.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Talkspace Price Performance

Shares of TALK opened at $2.78 on Tuesday. The business’s 50 day simple moving average is $3.27 and its 200-day simple moving average is $2.86. Talkspace, Inc. has a one year low of $1.60 and a one year high of $4.36. The company has a market capitalization of $469.61 million, a P/E ratio of 278.28 and a beta of 1.14.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. The company had revenue of $48.72 million for the quarter, compared to analyst estimates of $49.94 million. On average, sell-side analysts anticipate that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Talkspace

A number of hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP raised its stake in shares of Talkspace by 14.2% in 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 during the last quarter. State of Wyoming acquired a new stake in shares of Talkspace in the fourth quarter valued at approximately $439,000. Tema Etfs LLC bought a new position in Talkspace in the 4th quarter worth approximately $81,000. ProShare Advisors LLC lifted its holdings in Talkspace by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 34,622 shares of the company’s stock worth $107,000 after buying an additional 11,392 shares in the last quarter. Finally, Man Group plc acquired a new position in Talkspace during the 4th quarter worth $481,000. Institutional investors own 57.37% of the company’s stock.

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.