Talkspace (NASDAQ:TALK) Price Target Increased to $3.00 by Analysts at Barclays

Talkspace (NASDAQ:TALK) had its price objective lifted by equities researchers at Barclays from $2.00 to $3.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential downside of 5.66% from the stock’s previous close.

Separately, Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research report on Tuesday, August 6th.

Talkspace Stock Up 18.2 %

NASDAQ:TALK traded up $0.49 during trading hours on Tuesday, reaching $3.18. 10,415,361 shares of the stock were exchanged, compared to its average volume of 1,585,697. The firm has a 50 day simple moving average of $2.18 and a 200-day simple moving average of $2.35. Talkspace has a 52 week low of $1.41 and a 52 week high of $3.92. The stock has a market capitalization of $534.91 million, a P/E ratio of -63.60 and a beta of 1.21.

Insiders Place Their Bets

In other news, CFO Ian Jiro Harris purchased 19,500 shares of Talkspace stock in a transaction dated Tuesday, September 17th. The stock was acquired at an average cost of $2.20 per share, for a total transaction of $42,900.00. Following the acquisition, the chief financial officer now directly owns 347,057 shares in the company, valued at $763,525.40. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Fifth Lane Capital LP bought a new position in Talkspace in the 1st quarter worth approximately $55,000. Principal Financial Group Inc. bought a new position in Talkspace in the 2nd quarter worth approximately $38,000. Virtu Financial LLC bought a new position in Talkspace in the 1st quarter worth approximately $74,000. Creative Planning increased its position in Talkspace by 30.6% in the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after buying an additional 6,179 shares during the period. Finally, Clear Harbor Asset Management LLC bought a new position in Talkspace in the 3rd quarter worth approximately $84,000. 57.37% of the stock is owned by 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.