Royce & Associates LP Acquires New Holdings in Talkspace, Inc. (NASDAQ:TALK)

Royce & Associates LP bought a new position in shares of Talkspace, Inc. (NASDAQ:TALK) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 500,000 shares of the company’s stock, valued at approximately $1,045,000. Royce & Associates LP owned 0.30% of Talkspace as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Talkspace by 1.5% in the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock valued at $21,012,000 after purchasing an additional 84,933 shares during the last quarter. Virtu Financial LLC bought a new stake in Talkspace during the 1st quarter valued at approximately $74,000. Bank of New York Mellon Corp grew its holdings in Talkspace by 2,480.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock valued at $814,000 after buying an additional 340,030 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Talkspace in the 2nd quarter worth approximately $264,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Talkspace during the second quarter worth approximately $38,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Insider Transactions at Talkspace

In related news, CFO Ian Jiro Harris purchased 23,100 shares of the stock in a transaction on Thursday, September 19th. The shares were purchased at an average cost of $2.11 per share, for a total transaction of $48,741.00. Following the completion of the transaction, the chief financial officer now directly owns 397,657 shares of the company’s stock, valued at approximately $839,056.27. The trade was a 6.17 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.70% of the stock is currently owned by insiders.

Talkspace Price Performance

TALK opened at $3.16 on Thursday. Talkspace, Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $3.92. The company has a market capitalization of $533.79 million, a P/E ratio of -316.00 and a beta of 1.11. The firm’s fifty day moving average price is $2.64 and its two-hundred day moving average price is $2.36.

Talkspace (NASDAQ:TALK) last posted its earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $47.40 million for the quarter, compared to analysts’ expectations of $47.50 million. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. On average, equities research analysts expect that Talkspace, Inc. will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

TALK has been the topic of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Northland Securities began coverage on shares of Talkspace in a report on Wednesday. They set an “outperform” rating and a $5.00 price objective on the stock. Finally, Barclays lifted their target price on Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th.

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.