Royce & Associates LP Grows Stock Position in Talkspace, Inc. $TALK

Royce & Associates LP increased its stake in shares of Talkspace, Inc. (NASDAQ:TALK) by 526.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,174,262 shares of the company’s stock after purchasing an additional 1,827,459 shares during the quarter. Royce & Associates LP owned 1.31% of Talkspace worth $6,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bailard Inc. purchased a new position in Talkspace during the 2nd quarter worth $240,000. American Century Companies Inc. increased its stake in shares of Talkspace by 4.7% during the second quarter. American Century Companies Inc. now owns 6,750,434 shares of the company’s stock worth $18,766,000 after acquiring an additional 300,476 shares during the period. SG Americas Securities LLC increased its stake in shares of Talkspace by 206.4% during the second quarter. SG Americas Securities LLC now owns 159,811 shares of the company’s stock worth $444,000 after acquiring an additional 107,657 shares during the period. First Eagle Investment Management LLC raised its holdings in Talkspace by 41.5% during the second quarter. First Eagle Investment Management LLC now owns 1,601,130 shares of the company’s stock worth $4,451,000 after purchasing an additional 469,280 shares in the last quarter. Finally, CenterBook Partners LP lifted its position in Talkspace by 114.6% in the second quarter. CenterBook Partners LP now owns 2,478,970 shares of the company’s stock valued at $6,892,000 after purchasing an additional 1,323,964 shares during the period. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TALK. Barclays began coverage on Talkspace in a research report on Monday, December 8th. They set an “equal weight” rating and a $3.50 target price on the stock. Wall Street Zen upgraded Talkspace from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Talkspace in a report on Monday, December 29th. Needham & Company LLC raised their target price on Talkspace from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Finally, UBS Group restated a “buy” rating on shares of Talkspace in a research report on Tuesday, December 30th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $5.13.

Talkspace Price Performance

NASDAQ TALK opened at $4.93 on Thursday. The business has a 50 day moving average price of $4.04 and a 200 day moving average price of $3.35. The company has a market capitalization of $816.70 million, a P/E ratio of 98.62 and a beta of 1.18. Talkspace, Inc. has a 1-year low of $2.22 and a 1-year high of $5.18.

Talkspace (NASDAQ:TALK) last posted its earnings results on Thursday, February 19th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Talkspace had a return on equity of 6.97% and a net margin of 3.40%.The company had revenue of $63.00 million for the quarter, compared to analyst estimates of $61.91 million. On average, research analysts expect that Talkspace, Inc. will post 0.08 earnings per share for the current fiscal year.

About Talkspace

Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.