Talkspace, Inc. (NASDAQ:TALK) Short Interest Down 14.3% in March

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 4,240,000 shares, a decline of 14.3% from the February 28th total of 4,950,000 shares. Currently, 3.1% of the shares of the stock are short sold. Based on an average daily volume of 2,000,000 shares, the days-to-cover ratio is currently 2.1 days.

Insider Activity at Talkspace

In other news, CEO Jon R. Cohen purchased 75,000 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired 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 directly owns 2,267,980 shares in the company, valued at $6,486,422.80. This represents a 3.42 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders bought 82,270 shares of company stock valued at $235,312. 21.70% of the stock is owned by insiders.

Institutional Trading of Talkspace

A number of hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Talkspace by 448.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company's stock valued at $1,101,000 after purchasing an additional 430,861 shares in the last quarter. Evernest Financial Advisors LLC acquired a new stake in shares of Talkspace during the fourth quarter valued at about $337,000. Barclays PLC increased its position in shares of Talkspace by 322.3% during the third quarter. Barclays PLC now owns 175,990 shares of the company's stock worth $368,000 after acquiring an additional 134,313 shares during the last quarter. State Street Corp increased its position in shares of 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. Finally, New York State Common Retirement Fund lifted its stake in shares of Talkspace by 829.3% in the fourth quarter. New York State Common Retirement Fund now owns 38,100 shares of the company's stock worth $118,000 after acquiring an additional 34,000 shares in the last quarter. Hedge funds and other institutional investors own 57.37% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TALK shares. Needham & Company LLC reissued a "hold" rating on shares of Talkspace in a research note on Friday, February 21st. KeyCorp assumed 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. Finally, Canaccord Genuity Group initiated coverage on shares of Talkspace in a report on Thursday. They issued a "buy" rating and a $5.00 target price for the company. Two investment 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. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $4.50.

Talkspace Stock Down 0.6 %

Shares of TALK stock traded down $0.02 during mid-day trading on Monday, reaching $2.62. The company's stock had a trading volume of 1,031,605 shares, compared to its average volume of 1,828,831. The company's 50 day simple moving average is $3.11 and its 200-day simple moving average is $3.02. Talkspace has a 12-month low of $1.60 and a 12-month high of $4.36. The firm has a market capitalization of $440.46 million, a PE ratio of 261.76 and a beta of 1.16.

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

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.