Fmr LLC Acquires 24,198 Shares of Talkspace, Inc. (NASDAQ:TALK)

Fmr LLC grew its stake in shares of Talkspace, Inc. (NASDAQ:TALK) by 24.2% during the third quarter, HoldingsChannel.com reports. The fund owned 124,085 shares of the company’s stock after buying an additional 24,198 shares during the quarter. Fmr LLC’s holdings in Talkspace were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Sugar Maple Asset Management LLC bought a new position in Talkspace in the third quarter valued at about $33,000. Principal Financial Group Inc. purchased a new position in Talkspace during the second quarter valued at $38,000. Creative Planning grew its holdings in Talkspace by 30.6% during 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 during the period. Intech Investment Management LLC bought a new stake in Talkspace during the third quarter valued at about $56,000. Finally, Aigen Investment Management LP raised its stake in shares of Talkspace by 37.8% in the third quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock worth $74,000 after buying an additional 9,766 shares during the period. 57.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TALK shares. Northland Securities started coverage on shares of Talkspace in a report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 target price for the company. Mizuho initiated coverage on shares of Talkspace in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. Finally, KeyCorp started coverage on Talkspace in a report on Monday, December 9th. They set an “overweight” rating and a $4.50 price target on the stock. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Talkspace currently has an average rating of “Buy” and a consensus price target of $4.38.

Talkspace Stock Performance

Shares of NASDAQ:TALK opened at $2.98 on Friday. The firm has a market cap of $503.39 million, a price-to-earnings ratio of -298.00 and a beta of 1.12. The firm has a fifty day moving average price of $3.17 and a 200 day moving average price of $2.46. 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 firm had revenue of $47.40 million during the quarter, compared to analyst estimates of $47.50 million. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. During the same quarter last year, the business posted ($0.03) earnings per share.

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.