MetLife Investment Management LLC Boosts Stake in Talkspace, Inc. (NASDAQ:TALK)

MetLife Investment Management LLC lifted its holdings in shares of Talkspace, Inc. (NASDAQ:TALK) by 87.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 77,294 shares of the company’s stock after acquiring an additional 36,154 shares during the quarter. MetLife Investment Management LLC’s holdings in Talkspace were worth $239,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cibc World Markets Corp acquired a new stake in Talkspace during the 4th quarter valued at approximately $36,000. Belvedere Trading LLC acquired a new stake in shares of Talkspace during the fourth quarter worth approximately $37,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Talkspace in the fourth quarter worth $69,000. Sugar Maple Asset Management LLC raised its holdings in 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 acquiring an additional 12,000 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Talkspace by 48.5% during the 4th quarter. Legal & General Group Plc now owns 36,146 shares of the company’s stock valued at $112,000 after acquiring an additional 11,809 shares during the last quarter. 57.37% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Talkspace

In other Talkspace news, CEO Jon R. Cohen bought 75,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $2.86 per share, for a total transaction of $214,500.00. Following the transaction, the chief executive officer now directly owns 2,267,980 shares in the company, valued at $6,486,422.80. The trade was a 3.42 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have bought 82,270 shares of company stock worth $235,312. 21.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TALK has been the topic of a number of recent analyst reports. Canaccord Genuity Group initiated coverage on shares of Talkspace in a research note on Thursday, April 3rd. They issued a “buy” rating and a $5.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Talkspace presently has a consensus rating of “Buy” and an average price target of $4.50.

Talkspace Stock Down 3.3 %

Shares of TALK stock opened at $3.04 on Thursday. The company has a market cap of $511.21 million, a P/E ratio of 303.80 and a beta of 1.13. The business has a 50 day moving average of $2.83 and a two-hundred day moving average of $3.10. Talkspace, Inc. has a 52 week low of $1.60 and a 52 week high of $4.36.

Talkspace (NASDAQ:TALK) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. The firm had revenue of $48.72 million for the quarter, compared to analyst estimates of $49.94 million. Analysts expect 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.