State Street Corp Buys 580,826 Shares of Talkspace, Inc. (NASDAQ:TALK)

State Street Corp boosted its holdings in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 36.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,176,589 shares of the company's stock after buying an additional 580,826 shares during the period. State Street Corp owned approximately 1.29% of Talkspace worth $4,549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TALK. Divisadero Street Capital Management LP boosted its holdings in shares of 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 during the period. Clearline Capital LP boosted its stake in Talkspace by 28.1% in the 3rd quarter. Clearline Capital LP now owns 1,248,756 shares of the company's stock worth $2,610,000 after purchasing an additional 273,994 shares during the period. Royce & Associates LP purchased a new position in Talkspace during the 3rd quarter valued at about $1,045,000. Dimensional Fund Advisors LP bought a new stake in shares of Talkspace during the second quarter valued at about $921,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Talkspace by 2,480.3% in the second quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company's stock worth $814,000 after buying an additional 340,030 shares in the last quarter. Institutional investors own 57.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TALK. KeyCorp initiated coverage on shares of Talkspace in a research note on Monday, December 9th. They set an "overweight" rating and a $4.50 price objective for the company. Needham & Company LLC restated a "hold" rating on shares of Talkspace in a research report on Wednesday, October 30th. Mizuho started coverage on Talkspace in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $5.00 price objective on the stock. Northland Capmk upgraded Talkspace to a "strong-buy" rating in a research report on Wednesday, November 20th. Finally, Barclays upped their target price on Talkspace from $2.00 to $3.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $4.38.

Talkspace Stock Up 0.6 %

NASDAQ:TALK traded up $0.02 during midday trading on Monday, hitting $3.17. The company had a trading volume of 919,027 shares, compared to its average volume of 1,596,140. The company has a market capitalization of $535.49 million, a PE ratio of -317.00 and a beta of 1.12. Talkspace, Inc. has a 52-week low of $1.60 and a 52-week high of $3.92. The stock's fifty day moving average price is $3.21 and its 200-day moving average price is $2.48.

Talkspace (NASDAQ:TALK - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $47.40 million during the quarter, compared to analysts' expectations 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 period in the prior year, the business earned ($0.03) EPS.

Talkspace 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.