Man Group plc Buys New Position in Talkspace, Inc. (NASDAQ:TALK)

Man Group plc bought a new stake in shares of Talkspace, Inc. (NASDAQ:TALK) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 155,705 shares of the company’s stock, valued at approximately $481,000. Man Group plc owned 0.09% of Talkspace as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Cibc World Markets Corp purchased a new stake in shares of Talkspace during the 4th quarter valued at about $36,000. Belvedere Trading LLC purchased a new stake in shares of Talkspace during the 4th quarter valued at about $37,000. Ameriprise Financial Inc. purchased a new stake in shares of Talkspace during the 4th quarter valued at about $53,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Talkspace during the 4th quarter valued at about $69,000. Finally, Oxford Asset Management LLP purchased a new stake in shares of Talkspace during the 4th quarter valued at about $71,000. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jon R. Cohen purchased 75,000 shares of the stock in a transaction dated 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 acquisition, the chief executive officer now owns 2,267,980 shares of the company’s stock, valued at $6,486,422.80. The trade was a 3.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 23.50% of the company’s stock.

Talkspace Stock Up 2.2%

TALK stock opened at $2.82 on Tuesday. Talkspace, Inc. has a 52-week low of $1.60 and a 52-week high of $4.36. The company has a market capitalization of $471.83 million, a PE ratio of 282.28 and a beta of 1.13. The stock’s 50 day moving average is $2.87 and its two-hundred day moving average is $3.10.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TALK. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a report on Tuesday, May 6th. Canaccord Genuity Group initiated coverage on Talkspace in a report on Thursday, April 3rd. They set a “buy” rating and a $5.00 price objective on the stock. Two equities 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.