Talkspace (NASDAQ:TALK) Shares Gap Down – Should You Sell?

Talkspace, Inc. (NASDAQ:TALK)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $3.28, but opened at $3.20. Talkspace shares last traded at $3.03, with a volume of 991,275 shares traded.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Canaccord Genuity Group began coverage on Talkspace in a report on Thursday, April 3rd. They issued a “buy” rating and a $5.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Talkspace presently has an average rating of “Buy” and an average target price of $4.50.

Talkspace Price Performance

The company has a fifty day moving average price of $2.97 and a 200 day moving average price of $3.10. The company has a market capitalization of $501.11 million, a P/E ratio of 299.80 and a beta of 1.12.

Insider Activity at Talkspace

In other Talkspace news, CMO Katelyn Watson sold 39,000 shares of the business’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $3.30, for a total transaction of $128,700.00. Following the completion of the transaction, the chief marketing officer now owns 433,997 shares in the company, valued at approximately $1,432,190.10. The trade was a 8.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Talkspace

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers increased its stake in Talkspace by 15.9% during the 1st quarter. Rhumbline Advisers now owns 147,980 shares of the company’s stock valued at $379,000 after buying an additional 20,261 shares during the period. Strs Ohio bought a new position in shares of Talkspace in the first quarter valued at approximately $58,000. McAdam LLC acquired a new position in shares of Talkspace during the first quarter valued at approximately $44,000. Integrity Alliance LLC. acquired a new position in shares of Talkspace during the first quarter valued at approximately $35,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Talkspace by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after purchasing an additional 3,924 shares in the last quarter. 57.37% of the stock is currently owned by institutional investors.

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.