Corebridge Financial Inc. Decreases Stock Holdings in Talkspace, Inc. (NASDAQ:TALK)

Corebridge Financial Inc. lessened its holdings in shares of Talkspace, Inc. (NASDAQ:TALK) by 7.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 61,119 shares of the company’s stock after selling 4,614 shares during the period. Corebridge Financial Inc.’s holdings in Talkspace were worth $189,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Cibc World Markets Corp purchased a new stake in shares of Talkspace in the 4th quarter valued at about $36,000. Belvedere Trading LLC purchased a new position in Talkspace in the fourth quarter worth $37,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Talkspace in the fourth quarter valued at $69,000. Sugar Maple Asset Management LLC boosted its holdings in Talkspace by 75.0% during the fourth quarter. Sugar Maple Asset Management LLC now owns 28,000 shares of the company’s stock worth $87,000 after buying an additional 12,000 shares in the last quarter. Finally, Globeflex Capital L P acquired a new stake in shares of Talkspace in the 4th quarter worth approximately $117,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jon R. Cohen acquired 75,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $2.86 per share, for a total transaction of $214,500.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired a total of 82,270 shares of company stock valued at $235,312 over the last 90 days. 21.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TALK. Canaccord Genuity Group assumed coverage on shares of Talkspace in a research note on Thursday, April 3rd. They set a “buy” rating and a $5.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $4.50.

Talkspace Stock Up 2.2 %

NASDAQ TALK opened at $2.78 on Monday. The stock has a market cap of $468.25 million, a PE ratio of 278.28 and a beta of 1.16. The business has a 50 day moving average price of $3.05 and a two-hundred day moving average price of $3.05. Talkspace, Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $4.36.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The company 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%. Sell-side analysts anticipate that Talkspace, Inc. 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.