Royce & Associates LP Purchases 198,722 Shares of Talkspace, Inc. (NASDAQ:TALK)

Royce & Associates LP increased its position in shares of Talkspace, Inc. (NASDAQ:TALK) by 39.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 698,722 shares of the company’s stock after purchasing an additional 198,722 shares during the period. Royce & Associates LP owned 0.41% of Talkspace worth $2,159,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TALK. Belvedere Trading LLC purchased a new position in shares of Talkspace in the fourth quarter valued at about $37,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Talkspace in the 4th quarter worth approximately $69,000. Intech Investment Management LLC bought a new position in Talkspace in the 3rd quarter worth approximately $56,000. Sugar Maple Asset Management LLC grew its holdings in Talkspace by 75.0% during the 4th quarter. Sugar Maple Asset Management LLC now owns 28,000 shares of the company’s stock valued at $87,000 after buying an additional 12,000 shares in the last quarter. Finally, Globeflex Capital L P bought a new stake in shares of Talkspace during the fourth quarter valued at approximately $117,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Insider Activity

In other news, CEO Jon R. Cohen acquired 75,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $2.86 per share, for a total transaction of $214,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,267,980 shares of the company’s stock, valued at approximately $6,486,422.80. The trade was a 3.42 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 82,270 shares of company stock valued at $235,312 in the last ninety days. Insiders own 21.70% of the company’s stock.

Talkspace Stock Down 0.7 %

TALK stock opened at $2.77 on Friday. Talkspace, Inc. has a 52 week low of $1.60 and a 52 week high of $4.36. The firm has a market capitalization of $466.57 million, a P/E ratio of 277.28 and a beta of 1.15. The company has a fifty day simple moving average of $3.18 and a two-hundred day simple moving average of $2.94.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The firm 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 anticipate that Talkspace, Inc. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research note on Friday, February 21st. Mizuho initiated coverage on Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective for the company. Finally, KeyCorp initiated coverage on Talkspace in a research report on Monday, December 9th. They issued an “overweight” rating and a $4.50 target price on the stock. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $4.38.

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.