Geode Capital Management LLC Boosts Stock Holdings in Talkspace, Inc. (NASDAQ:TALK)

Geode Capital Management LLC lifted its holdings in Talkspace, Inc. (NASDAQ:TALK) by 2.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,077,361 shares of the company’s stock after purchasing an additional 63,072 shares during the period. Geode Capital Management LLC owned about 1.82% of Talkspace worth $9,512,000 at the end of the most recent quarter.

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

Talkspace Stock Performance

Shares of TALK opened at $2.83 on Thursday. Talkspace, Inc. has a one year low of $1.60 and a one year high of $4.36. The stock has a market capitalization of $476.68 million, a price-to-earnings ratio of 283.28 and a beta of 1.16. The stock has a 50 day moving average price of $2.86 and a 200 day moving average price of $3.06.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $48.72 million during the quarter, compared to analysts’ expectations of $49.94 million. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. On average, analysts predict that Talkspace, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Talkspace

In related news, CEO Jon R. Cohen purchased 75,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were bought at an average price of $2.86 per share, for a total transaction of $214,500.00. Following the acquisition, the chief executive officer now directly owns 2,267,980 shares in the company, valued at $6,486,422.80. This trade represents a 3.42 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders acquired 82,270 shares of company stock valued at $235,312 in the last 90 days. Company insiders own 21.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TALK shares. Canaccord Genuity Group assumed coverage on shares of Talkspace in a research report on Thursday, April 3rd. They set a “buy” rating and a $5.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research report on Friday, February 21st. Two research 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. According to 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.