Royce & Associates LP Raises Stock Holdings in Talkspace, Inc. (NASDAQ:TALK)

Royce & Associates LP increased its holdings in shares of Talkspace, Inc. (NASDAQ:TALK) by 39.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 698,722 shares of the company’s stock after acquiring an additional 198,722 shares during the period. Royce & Associates LP’s holdings in Talkspace were worth $2,159,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TALK. Globeflex Capital L P bought a new stake in shares of Talkspace during the fourth quarter worth $117,000. First Eagle Investment Management LLC increased its stake in Talkspace by 274.1% in the 4th quarter. First Eagle Investment Management LLC now owns 561,200 shares of the company’s stock worth $1,734,000 after buying an additional 411,200 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Talkspace during the 4th quarter valued at about $69,000. Charles Schwab Investment Management Inc. boosted its position in Talkspace by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 389,312 shares of the company’s stock valued at $1,203,000 after buying an additional 10,835 shares during the period. Finally, Bailard Inc. bought a new position in Talkspace in the 4th quarter worth about $272,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Talkspace Stock Down 0.7 %

Shares of NASDAQ:TALK opened at $2.77 on Friday. The firm has a 50 day moving average of $3.18 and a 200 day moving average of $2.94. The company has a market capitalization of $466.57 million, a price-to-earnings ratio of 277.28 and a beta of 1.15. Talkspace, Inc. has a 52 week low of $1.60 and a 52 week high of $4.36.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) 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 return on equity of 0.98% and a net margin of 0.61%. On average, sell-side analysts expect that Talkspace, Inc. will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

TALK has been the subject of several research analyst reports. Mizuho began coverage on shares of Talkspace in a research note on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a report on Friday, February 21st. Finally, KeyCorp started coverage on Talkspace in a research report on Monday, December 9th. They set an “overweight” rating and a $4.50 price target on the stock. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $4.38.

Insiders Place Their Bets

In other news, CEO Jon R. Cohen bought 75,000 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $2.86 per share, for a total transaction of $214,500.00. Following the completion of the purchase, the chief executive officer now directly owns 2,267,980 shares in the company, valued at approximately $6,486,422.80. The trade was a 3.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders bought 82,270 shares of company stock worth $235,312. 21.70% of the stock is owned by corporate insiders.

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.