Renaissance Technologies LLC Sells 240,300 Shares of Talkspace, Inc. (NASDAQ:TALK)

Renaissance Technologies LLC decreased its holdings in Talkspace, Inc. (NASDAQ:TALK) by 12.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,632,300 shares of the company’s stock after selling 240,300 shares during the quarter. Renaissance Technologies LLC owned 0.97% of Talkspace worth $5,044,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Talkspace by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 389,312 shares of the company’s stock worth $1,203,000 after purchasing an additional 10,835 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Talkspace in the fourth quarter valued at approximately $36,000. Legal & General Group Plc grew its stake in Talkspace by 48.5% in the 4th quarter. Legal & General Group Plc now owns 36,146 shares of the company’s stock valued at $112,000 after purchasing an additional 11,809 shares during the period. Sugar Maple Asset Management LLC increased 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 during the last quarter. Finally, Belvedere Trading LLC purchased a new stake in shares of Talkspace during the 4th quarter worth approximately $37,000. Institutional investors own 57.37% of the company’s stock.

Talkspace Stock Down 2.2 %

Talkspace stock opened at $2.67 on Monday. The business has a 50-day simple moving average of $2.94 and a 200 day simple moving average of $3.07. Talkspace, Inc. has a 52 week low of $1.60 and a 52 week high of $4.36. The stock has a market cap of $449.73 million, a price-to-earnings ratio of 267.27 and a beta of 1.16.

Talkspace (NASDAQ:TALK) last announced its earnings results 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 during the quarter, compared to analyst estimates of $49.94 million. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. On average, research analysts anticipate that Talkspace, Inc. will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In other Talkspace news, CEO Jon R. Cohen bought 75,000 shares of Talkspace stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $2.86 per share, with a total value of $214,500.00. Following the acquisition, the chief executive officer now owns 2,267,980 shares in the company, valued at approximately $6,486,422.80. This trade represents a 3.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have acquired 82,270 shares of company stock valued at $235,312. 21.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on TALK shares. Canaccord Genuity Group assumed coverage on shares of Talkspace in a research report on Thursday, April 3rd. They issued a “buy” rating and a $5.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $4.50.

About Talkspace

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.