JPMorgan Chase & Co. lifted its holdings in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) by 87.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 987,220 shares of the company's stock after acquiring an additional 460,248 shares during the period. JPMorgan Chase & Co. owned approximately 0.58% of Talkspace worth $3,051,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Cibc World Markets Corp bought a new position in shares of Talkspace during the 4th quarter worth approximately $36,000. Belvedere Trading LLC bought a new position in shares of Talkspace in the fourth quarter valued at approximately $37,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Talkspace in the 4th quarter worth approximately $69,000. Sugar Maple Asset Management LLC grew its position in Talkspace by 75.0% during the 4th quarter. Sugar Maple Asset Management LLC now owns 28,000 shares of the company's stock worth $87,000 after acquiring an additional 12,000 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in Talkspace during the 4th quarter valued at $117,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Talkspace news, CEO Jon R. Cohen bought 75,000 shares of Talkspace stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $2.86 per share, for a total transaction of $214,500.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders bought 82,270 shares of company stock valued at $235,312 in the last quarter. Company insiders own 21.70% of the company's stock.
Talkspace Stock Performance
Shares of TALK stock remained flat at $3.12 during trading hours on Friday. The stock had a trading volume of 1,147,343 shares, compared to its average volume of 1,830,862. Talkspace, Inc. has a one year low of $1.60 and a one year high of $4.36. The firm has a market capitalization of $525.52 million, a price-to-earnings ratio of 312.31 and a beta of 1.16. The firm's fifty day simple moving average is $2.82 and its 200 day simple moving average is $3.07.
Talkspace (NASDAQ:TALK - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01. The business had revenue of $48.72 million for 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%. On average, equities analysts predict that Talkspace, Inc. will post 0.08 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Talkspace in a research report on Friday, February 21st. Canaccord Genuity Group began coverage on Talkspace in a report on Thursday, April 3rd. They set a "buy" rating and a $5.00 price objective on the stock. Two 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 company has a consensus rating of "Buy" and a consensus price target of $4.50.
Get Our Latest Analysis on TALK
Talkspace Profile
(
Free Report)
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.
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