American Century Companies Inc. Lowers Holdings in Talkspace, Inc. (NASDAQ:TALK)

American Century Companies Inc. decreased its stake in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,015,560 shares of the company's stock after selling 235,462 shares during the quarter. American Century Companies Inc. owned about 4.15% of Talkspace worth $21,678,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Cibc World Markets Corp purchased a new stake in shares of Talkspace during the fourth quarter valued at approximately $36,000. Belvedere Trading LLC purchased a new stake in Talkspace during the 4th quarter valued at $37,000. Intech Investment Management LLC purchased a new stake in Talkspace during the 3rd quarter valued at $56,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Talkspace in the 4th quarter worth $69,000. Finally, MetLife Investment Management LLC raised its stake in shares of Talkspace by 27.1% in the third quarter. MetLife Investment Management LLC now owns 41,140 shares of the company's stock worth $86,000 after purchasing an additional 8,764 shares during the last quarter. 57.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on TALK. Mizuho initiated coverage on Talkspace in a research report on Wednesday, December 4th. They set an "outperform" rating and a $5.00 price objective on the stock. KeyCorp began coverage on shares of Talkspace in a report on Monday, December 9th. They set an "overweight" rating and a $4.50 price target on the stock. Needham & Company LLC reissued a "hold" rating on shares of Talkspace in a report on Friday, February 21st. Finally, Canaccord Genuity Group initiated coverage on shares of Talkspace in a research report on Thursday. They set a "buy" rating and a $5.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $4.50.

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Insider Activity

In other news, CEO Jon R. Cohen bought 75,000 shares of the firm's stock in a transaction on Friday, February 28th. The shares were bought at an average price of $2.86 per share, for a total transaction of $214,500.00. Following the purchase, the chief executive officer now owns 2,267,980 shares in the company, valued at approximately $6,486,422.80. The trade was a 3.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 82,270 shares of company stock valued at $235,312 in the last ninety days. Corporate insiders own 21.70% of the company's stock.

Talkspace Trading Down 4.3 %

NASDAQ TALK traded down $0.12 during trading hours on Thursday, hitting $2.67. 1,457,798 shares of the company's stock traded hands, compared to its average volume of 1,822,182. Talkspace, Inc. has a 52 week low of $1.60 and a 52 week high of $4.36. The firm has a market capitalization of $449.73 million, a P/E ratio of 267.27 and a beta of 1.15. The business's fifty day moving average price is $3.12 and its two-hundred day moving average price is $3.00.

Talkspace (NASDAQ:TALK - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $48.72 million during the quarter, compared to analyst estimates of $49.94 million. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. On average, sell-side analysts expect that Talkspace, Inc. will post 0.08 EPS 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.