Renaissance Technologies LLC Sells 240,300 Shares of Talkspace, Inc. (NASDAQ:TALK)

Renaissance Technologies LLC reduced its stake in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) by 12.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,632,300 shares of the company's stock after selling 240,300 shares during the period. Renaissance Technologies LLC owned 0.97% of Talkspace worth $5,044,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership acquired a new position in shares of Talkspace in the fourth quarter worth approximately $3,371,000. State Street Corp boosted its stake in shares of Talkspace by 36.4% in the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company's stock valued at $4,549,000 after purchasing an additional 580,826 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Talkspace by 87.3% during the fourth quarter. JPMorgan Chase & Co. now owns 987,220 shares of the company's stock worth $3,051,000 after buying an additional 460,248 shares during the period. First Eagle Investment Management LLC raised its stake in Talkspace by 274.1% during the fourth quarter. First Eagle Investment Management LLC now owns 561,200 shares of the company's stock worth $1,734,000 after buying an additional 411,200 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Talkspace by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 7,180,787 shares of the company's stock valued at $22,189,000 after buying an additional 315,741 shares during the period. Institutional investors own 57.37% of the company's stock.

Talkspace Price Performance

Shares of NASDAQ:TALK traded up $0.05 during midday trading on Wednesday, hitting $2.83. 1,023,714 shares of the company's stock were exchanged, compared to its average volume of 1,822,751. Talkspace, Inc. has a 12 month low of $1.60 and a 12 month high of $4.36. The company has a market cap of $476.68 million, a PE ratio of 283.28 and a beta of 1.16. The stock has a 50 day moving average price of $2.88 and a 200-day moving average price of $3.06.

Talkspace (NASDAQ:TALK - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. The business had revenue of $48.72 million for the quarter, compared to analysts' expectations of $49.94 million. On average, analysts anticipate that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at Talkspace

In related news, CEO Jon R. Cohen acquired 75,000 shares of the stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $2.86 per share, with a total value of $214,500.00. Following the completion of the transaction, 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders acquired 82,270 shares of company stock valued at $235,312. 21.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of Talkspace in a report on Friday, February 21st. Canaccord Genuity Group initiated coverage on Talkspace in a research note on Thursday, April 3rd. They issued a "buy" rating and a $5.00 price target on the stock. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Talkspace presently has an average rating of "Buy" and a consensus target price of $4.50.

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.