The Manufacturers Life Insurance Company Makes New Investment in Talkspace, Inc. (NASDAQ:TALK)

The Manufacturers Life Insurance Company acquired a new stake in Talkspace, Inc. (NASDAQ:TALK) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 49,315 shares of the company’s stock, valued at approximately $113,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP boosted its position in Talkspace by 5.3% in the 1st quarter. GSA Capital Partners LLP now owns 236,921 shares of the company’s stock valued at $846,000 after buying an additional 11,977 shares during the last quarter. Fifth Lane Capital LP purchased a new stake in Talkspace during the 1st quarter worth approximately $55,000. Principal Financial Group Inc. purchased a new stake in Talkspace during the 2nd quarter worth approximately $38,000. Essex Investment Management Co. LLC raised its position in shares of Talkspace by 1.6% in the 1st 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 in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Talkspace during the 1st quarter valued at approximately $74,000. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Talkspace

In other news, CFO Ian Jiro Harris bought 19,500 shares of Talkspace stock in a transaction on Tuesday, September 17th. The shares were bought at an average price of $2.20 per share, with a total value of $42,900.00. Following the acquisition, the chief financial officer now directly owns 347,057 shares in the company, valued at approximately $763,525.40. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.40% of the stock is currently owned by insiders.

Talkspace Stock Performance

Shares of Talkspace stock opened at $2.77 on Monday. Talkspace, Inc. has a 1 year low of $1.41 and a 1 year high of $3.92. The firm’s 50-day simple moving average is $2.05 and its 200-day simple moving average is $2.39. The firm has a market cap of $470.03 million, a PE ratio of -34.63 and a beta of 1.21.

Wall Street Analysts Forecast Growth

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

Talkspace 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.