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

Talkspace (NASDAQ:TALK) had its target price increased by analysts at Barclays from $2.00 to $3.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential downside of 5.66% from the company’s current price.

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

Talkspace Price Performance

Talkspace stock traded up $0.49 during trading hours on Tuesday, reaching $3.18. The stock had a trading volume of 10,415,361 shares, compared to its average volume of 1,585,697. The company has a market cap of $534.91 million, a price-to-earnings ratio of -63.60 and a beta of 1.21. The business’s 50 day moving average price is $2.18 and its 200-day moving average price is $2.35. Talkspace has a 52 week low of $1.41 and a 52 week high of $3.92.

Insider Activity

In related news, CFO Ian Jiro Harris acquired 23,100 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was acquired at an average price of $2.11 per share, for a total transaction of $48,741.00. Following the purchase, the chief financial officer now owns 397,657 shares of the company’s stock, valued at $839,056.27. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Fifth Lane Capital LP purchased a new stake in Talkspace during the first quarter worth $55,000. Principal Financial Group Inc. purchased a new stake in Talkspace during the second quarter worth $38,000. Virtu Financial LLC purchased a new stake in Talkspace during the first quarter worth $74,000. Creative Planning lifted its position in shares of Talkspace by 30.6% in the third quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after acquiring an additional 6,179 shares in the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Talkspace in the third quarter valued at $84,000. Institutional investors and hedge funds 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.