Talkspace (NASDAQ:TALK) Shares Up 7.5% - Time to Buy?

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) shot up 7.5% during trading on Thursday . The stock traded as high as $3.01 and last traded at $2.97. 1,440,438 shares were traded during mid-day trading, a decline of 19% from the average session volume of 1,769,750 shares. The stock had previously closed at $2.76.

Analyst Upgrades and Downgrades

Several research firms recently commented on TALK. Northland Securities began coverage on shares of Talkspace in a report on Wednesday, November 20th. They issued an "outperform" rating and a $5.00 price target on the stock. KeyCorp began coverage on shares of Talkspace in a report on Monday, December 9th. They issued an "overweight" rating and a $4.50 price target on the stock. Northland Capmk upgraded shares of Talkspace to a "strong-buy" rating in a report on Wednesday, November 20th. Mizuho began coverage on shares of Talkspace in a report on Wednesday, December 4th. They issued an "outperform" rating and a $5.00 price target on the stock. Finally, Needham & Company LLC restated a "hold" rating on shares of Talkspace in a report on Friday, February 21st. Two 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. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $4.38.

Talkspace Price Performance

The company's 50-day simple moving average is $3.25 and its 200-day simple moving average is $2.90. The company has a market cap of $457.78 million, a price-to-earnings ratio of 271.27 and a beta of 1.15.

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Talkspace (NASDAQ:TALK - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. The company had revenue of $48.72 million during the quarter, compared to the consensus estimate of $49.94 million. Equities analysts predict that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jon R. Cohen purchased 75,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $2.86 per share, for a total transaction of $214,500.00. Following the completion of the purchase, the chief executive officer now owns 2,267,980 shares in the company, valued at approximately $6,486,422.80. This represents a 3.42 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders purchased 82,270 shares of company stock worth $235,312. Insiders own 21.70% of the company's stock.

Institutional Trading of Talkspace

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Talkspace by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 7,180,787 shares of the company's stock worth $22,189,000 after buying an additional 315,741 shares during the last quarter. Deutsche Bank AG increased its stake 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 worth $14,262,000 after buying an additional 2,342,913 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Talkspace by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company's stock worth $9,512,000 after buying an additional 63,072 shares during the last quarter. State Street Corp increased its stake in shares of Talkspace by 36.4% in the third quarter. State Street Corp now owns 2,176,589 shares of the company's stock worth $4,549,000 after buying an additional 580,826 shares during the last quarter. Finally, Voss Capital LP bought a new stake in shares of Talkspace in the fourth quarter worth $3,981,000. Institutional investors own 57.37% of the company's stock.

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.