Jon R. Cohen Buys 75,000 Shares of Talkspace, Inc. (NASDAQ:TALK) Stock

Talkspace, Inc. (NASDAQ:TALK) CEO Jon R. Cohen bought 75,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $2.86 per share, for a total transaction of $214,500.00. Following the completion of the acquisition, the chief executive officer now owns 2,267,980 shares in the company, valued at approximately $6,486,422.80. This trade represents a 3.42 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Talkspace Trading Down 2.8 %

NASDAQ TALK traded down $0.08 during trading hours on Monday, reaching $2.78. 2,652,129 shares of the company traded hands, compared to its average volume of 1,756,474. The stock has a market capitalization of $469.61 million, a PE ratio of 278.28 and a beta of 1.14. Talkspace, Inc. has a 12 month low of $1.60 and a 12 month high of $4.36. The company has a 50 day moving average of $3.27 and a two-hundred day moving average of $2.86.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in Talkspace by 448.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock worth $1,101,000 after acquiring an additional 430,861 shares in the last quarter. Evernest Financial Advisors LLC acquired a new position in Talkspace during the 4th quarter worth $337,000. Royce & Associates LP acquired a new position in Talkspace during the 3rd quarter worth $1,045,000. Barclays PLC boosted its holdings in shares of Talkspace by 322.3% in the 3rd quarter. Barclays PLC now owns 175,990 shares of the company’s stock valued at $368,000 after buying an additional 134,313 shares during the period. Finally, State Street Corp boosted its holdings in shares of Talkspace by 36.4% in the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after buying an additional 580,826 shares during the period. 57.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.