Talkspace, Inc. (NASDAQ:TALK) Stake Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 94,091.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 129,042 shares of the company's stock after purchasing an additional 128,905 shares during the period. Russell Investments Group Ltd. owned 0.08% of Talkspace worth $399,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TALK. State Street Corp increased its stake in Talkspace by 36.4% during the third quarter. State Street Corp now owns 2,176,589 shares of the company's stock worth $4,549,000 after acquiring an additional 580,826 shares during the last quarter. Barclays PLC increased its stake in Talkspace by 322.3% during the 3rd quarter. Barclays PLC now owns 175,990 shares of the company's stock worth $368,000 after buying an additional 134,313 shares during the period. JPMorgan Chase & Co. lifted its holdings in Talkspace by 448.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company's stock worth $1,101,000 after buying an additional 430,861 shares in the last quarter. Sugar Maple Asset Management LLC boosted its holdings in Talkspace by 75.0% in the fourth quarter. Sugar Maple Asset Management LLC now owns 28,000 shares of the company's stock valued at $87,000 after purchasing an additional 12,000 shares during the period. Finally, SG Americas Securities LLC grew its stake in Talkspace by 68.0% during the 4th quarter. SG Americas Securities LLC now owns 79,282 shares of the company's stock worth $245,000 after purchasing an additional 32,080 shares in the last quarter. Institutional investors and hedge funds own 57.37% of the company's stock.

Talkspace Price Performance

NASDAQ TALK remained flat at $3.12 on Friday. The company's stock had a trading volume of 1,147,343 shares, compared to its average volume of 1,836,866. Talkspace, Inc. has a 52-week low of $1.60 and a 52-week high of $4.36. The firm's 50-day moving average is $2.82 and its 200-day moving average is $3.08. The firm has a market capitalization of $525.52 million, a price-to-earnings ratio of 312.31 and a beta of 1.16.

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

Insider Buying and Selling

In other Talkspace news, CEO Jon R. Cohen purchased 75,000 shares of Talkspace stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $2.86 per share, for a total transaction of $214,500.00. Following the transaction, the chief executive officer now owns 2,267,980 shares in the company, valued at $6,486,422.80. This represents a 3.42 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders bought 82,270 shares of company stock worth $235,312. Corporate insiders own 21.70% of the company's stock.

Analyst Ratings Changes

TALK has been the subject of a number of recent analyst reports. Canaccord Genuity Group assumed coverage on Talkspace in a report on Thursday, April 3rd. They set a "buy" rating and a $5.00 price target for the company. Needham & Company LLC reissued a "hold" rating on shares of Talkspace in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $4.50.

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.