Talkspace, Inc. (NASDAQ:TALK) Holdings Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in Talkspace, Inc. (NASDAQ:TALK) by 87.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 987,220 shares of the company’s stock after acquiring an additional 460,248 shares during the period. JPMorgan Chase & Co. owned 0.58% of Talkspace worth $3,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TALK. Cibc World Markets Corp bought a new stake in Talkspace during the fourth quarter worth approximately $36,000. Belvedere Trading LLC acquired a new position in shares of Talkspace during the 4th quarter valued at $37,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Talkspace in the 4th quarter worth $69,000. Sugar Maple Asset Management LLC lifted its holdings in shares of Talkspace by 75.0% in the fourth 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 during the period. Finally, Globeflex Capital L P bought a new position in Talkspace during the fourth quarter valued at about $117,000. 57.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on TALK shares. Canaccord Genuity Group started 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 reiterated a “hold” rating on shares of Talkspace in a report 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 a consensus price target of $4.50.

Insiders Place Their Bets

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

Talkspace Trading Down 3.4 %

Shares of TALK opened at $2.58 on Tuesday. The business’s 50-day moving average price is $2.91 and its 200 day moving average price is $3.07. The stock has a market capitalization of $434.57 million, a P/E ratio of 258.26 and a beta of 1.16. Talkspace, Inc. has a 1-year low of $1.60 and a 1-year high of $4.36.

Talkspace (NASDAQ:TALK) last released 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 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 predict that Talkspace, Inc. will post 0.08 earnings per share for the current year.

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.