Talkspace (NASDAQ:TALK) Price Target Raised to $3.00 at Barclays

Talkspace (NASDAQ:TALK) had its target price boosted by Barclays from $2.00 to $3.00 in a report released on Tuesday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

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

Talkspace Trading Down 1.3 %

TALK stock opened at $3.13 on Tuesday. The business’s fifty day moving average price is $2.23 and its 200 day moving average price is $2.35. Talkspace has a 12-month low of $1.41 and a 12-month high of $3.92.

Talkspace (NASDAQ:TALK) 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 for the quarter, compared to analysts’ expectations of $47.50 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. As a group, equities analysts anticipate that Talkspace will post -0.03 earnings per share for the current fiscal year.

Insider Activity at Talkspace

In other news, CFO Ian Jiro Harris purchased 19,500 shares of the stock in a transaction on Tuesday, September 17th. The stock was bought at an average price 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 of the company’s stock, valued at approximately $763,525.40. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Lane Capital LP purchased a new stake in Talkspace during the first quarter worth approximately $55,000. GSA Capital Partners LLP grew its position in Talkspace by 5.3% during the 1st quarter. GSA Capital Partners LLP now owns 236,921 shares of the company’s stock worth $846,000 after purchasing an additional 11,977 shares during the last quarter. Essex Investment Management Co. LLC increased its stake in Talkspace by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 1,339,494 shares of the company’s stock valued at $4,782,000 after purchasing an additional 20,613 shares during the period. Advisory Alpha LLC purchased a new stake in shares of Talkspace in the first quarter valued at about $296,000. Finally, Vanguard Group Inc. boosted its stake in shares of Talkspace by 1.5% during the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock worth $21,012,000 after buying an additional 84,933 shares during the period. 57.37% of the stock is owned by institutional investors and hedge funds.

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.