Talkspace, Inc. (NASDAQ:TALK) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in Talkspace, Inc. (NASDAQ:TALK) by 25.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,306 shares of the company’s stock after selling 4,301 shares during the quarter. Principal Financial Group Inc.’s holdings in Talkspace were worth $26,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Creative Planning grew its holdings 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 purchasing an additional 6,179 shares in the last quarter. Virtu Financial LLC purchased a new position in Talkspace in the 1st quarter valued at approximately $74,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Talkspace during the third quarter worth $84,000. SG Americas Securities LLC acquired a new stake in shares of Talkspace in the third quarter valued at $99,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Talkspace in the second quarter valued at $113,000. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Talkspace

In other Talkspace news, CFO Ian Jiro Harris bought 23,100 shares of the stock in a transaction dated Thursday, September 19th. The shares were acquired 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 owns 397,657 shares in the company, valued at approximately $839,056.27. The trade was a 6.17 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 21.70% of the stock is owned by corporate insiders.

Talkspace Stock Performance

Shares of NASDAQ TALK opened at $3.31 on Wednesday. The stock’s 50-day simple moving average is $2.73 and its 200-day simple moving average is $2.37. The firm has a market capitalization of $559.13 million, a PE ratio of -331.00 and a beta of 1.11. Talkspace, Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $3.92.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $47.40 million during the quarter, compared to the consensus estimate 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 earned ($0.03) EPS. On average, sell-side analysts forecast that Talkspace, Inc. will post -0.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TALK. Barclays increased their price target on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. Finally, Northland Securities assumed coverage on shares of Talkspace in a report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price objective on the stock. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Talkspace has an average rating of “Moderate Buy” and an average target price of $4.00.

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.