Royce & Associates LP Takes $1.05 Million Position in Talkspace, Inc. (NASDAQ:TALK)

Royce & Associates LP acquired a new position in Talkspace, Inc. (NASDAQ:TALK - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 500,000 shares of the company's stock, valued at approximately $1,045,000. Royce & Associates LP owned approximately 0.30% of Talkspace at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP bought a new stake in shares of Talkspace in the 2nd quarter valued at approximately $921,000. Divisadero Street Capital Management LP grew its position in Talkspace by 13.2% in the second quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company's stock worth $7,157,000 after acquiring an additional 361,717 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Talkspace by 2,480.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company's stock worth $814,000 after purchasing an additional 340,030 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Talkspace by 2,357.6% during the 2nd quarter. Rhumbline Advisers now owns 135,215 shares of the company's stock valued at $311,000 after purchasing an additional 129,713 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Talkspace in the second quarter worth $264,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Talkspace Stock Up 2.3 %

Shares of TALK stock opened at $3.16 on Thursday. Talkspace, Inc. has a 1 year low of $1.60 and a 1 year high of $3.92. The firm's fifty day simple moving average is $2.64 and its 200 day simple moving average is $2.36.

Talkspace (NASDAQ:TALK - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $47.40 million for 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 firm earned ($0.03) EPS. On average, analysts anticipate that Talkspace, Inc. will post -0.03 earnings per share for the current year.

Insider Activity

In other Talkspace news, CFO Ian Jiro Harris acquired 23,100 shares of the business's stock in a transaction on Thursday, September 19th. The stock was purchased at an average price of $2.11 per share, for a total transaction of $48,741.00. Following the transaction, the chief financial officer now owns 397,657 shares in the company, valued at $839,056.27. This trade represents a 6.17 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 21.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TALK shares. Barclays raised their target price on Talkspace from $2.00 to $3.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a "hold" rating on shares of Talkspace in a research report on Wednesday, October 30th. Finally, Northland Securities initiated coverage on Talkspace in a research report on Wednesday. They issued an "outperform" rating and a $5.00 price target on the stock.

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.