179,672 Shares in Talkspace, Inc. (NASDAQ:TALK) Acquired by Summit Global Investments

Summit Global Investments bought a new position in Talkspace, Inc. (NASDAQ:TALK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 179,672 shares of the company's stock, valued at approximately $555,000. Summit Global Investments owned 0.11% of Talkspace at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TALK. MetLife Investment Management LLC boosted its position in shares of Talkspace by 27.1% in the 3rd quarter. MetLife Investment Management LLC now owns 41,140 shares of the company's stock valued at $86,000 after purchasing an additional 8,764 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Talkspace by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 389,312 shares of the company's stock valued at $1,203,000 after buying an additional 10,835 shares in the last quarter. Cibc World Markets Corp bought a new position in Talkspace during the fourth quarter valued at approximately $36,000. Sugar Maple Asset Management LLC lifted its position in shares of Talkspace by 75.0% in the fourth quarter. Sugar Maple Asset Management LLC now owns 28,000 shares of the company's stock worth $87,000 after buying an additional 12,000 shares during the last quarter. Finally, Belvedere Trading LLC acquired a new position in shares of Talkspace during the 4th quarter valued at about $37,000. 57.37% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Jon R. Cohen bought 75,000 shares of the business's stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $2.86 per share, with a total value of $214,500.00. Following the completion of the purchase, the chief executive officer now owns 2,267,980 shares of the company's stock, valued at $6,486,422.80. This represents a 3.42 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have acquired 82,270 shares of company stock valued at $235,312. 21.70% of the stock is currently owned by insiders.

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Wall Street Analysts Forecast Growth

Several brokerages recently commented on TALK. Mizuho initiated coverage on shares of Talkspace in a report on Wednesday, December 4th. They issued an "outperform" rating and a $5.00 target price on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Talkspace in a research note on Friday, February 21st. Finally, KeyCorp initiated coverage on shares of Talkspace in a research report on Monday, December 9th. They issued an "overweight" rating and a $4.50 price target on the stock. Two equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $4.38.

Talkspace Stock Down 1.5 %

NASDAQ:TALK traded down $0.04 on Friday, reaching $2.63. The stock had a trading volume of 1,187,849 shares, compared to its average volume of 1,809,306. The company has a market capitalization of $442.99 million, a P/E ratio of 263.26 and a beta of 1.15. Talkspace, Inc. has a 1-year low of $1.60 and a 1-year high of $4.36. The stock has a fifty day moving average price of $3.16 and a 200-day moving average price of $2.98.

Talkspace (NASDAQ:TALK - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. The company had revenue of $48.72 million for the quarter, compared to analyst estimates of $49.94 million. Sell-side analysts predict that Talkspace, Inc. will post 0.08 earnings per share for the current fiscal year.

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.