Talkspace (NASDAQ:TALK) Shares Up 7.6% - Here's Why

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) shares traded up 7.6% during mid-day trading on Friday . The stock traded as high as $3.57 and last traded at $3.56. 794,749 shares changed hands during trading, a decline of 51% from the average session volume of 1,611,553 shares. The stock had previously closed at $3.31.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TALK shares. Northland Securities started coverage on shares of Talkspace in a report on Wednesday. They set an "outperform" rating and a $5.00 target price on the stock. Northland Capmk raised Talkspace to a "strong-buy" rating in a research note on Wednesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Talkspace in a research report on Wednesday, October 30th. Finally, Barclays upped their target price on shares of Talkspace from $2.00 to $3.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $4.00.

Talkspace Stock Up 4.2 %

The firm has a fifty day moving average price of $2.67 and a 200-day moving average price of $2.37. The firm has a market cap of $582.77 million, a price-to-earnings ratio of -352.00 and a beta of 1.11.

Talkspace (NASDAQ:TALK - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. The business had revenue of $47.40 million during the quarter, compared to analyst estimates of $47.50 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. Equities research analysts anticipate that Talkspace, Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ian Jiro Harris purchased 19,500 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average cost of $2.20 per share, with a total value of $42,900.00. Following the completion of the purchase, the chief financial officer now owns 347,057 shares of the company's stock, valued at $763,525.40. The trade was a 5.95 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.70% of the stock is owned by corporate insiders.

Institutional Trading of Talkspace

Hedge funds have recently modified their holdings of the company. Creative Planning grew its holdings in shares of Talkspace by 30.6% in the 3rd quarter. Creative Planning now owns 26,386 shares of the company's stock worth $55,000 after purchasing an additional 6,179 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Talkspace by 27.1% in the 3rd quarter. MetLife Investment Management LLC now owns 41,140 shares of the company's stock worth $86,000 after purchasing an additional 8,764 shares during the period. Aigen Investment Management LP boosted its holdings in 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 purchasing an additional 9,766 shares during the last quarter. Sugar Maple Asset Management LLC bought a new position in Talkspace during the third quarter worth about $33,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Talkspace during the 2nd quarter worth approximately $38,000. 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.

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