Cibc World Markets Corp Acquires New Shares in Talkspace, Inc. (NASDAQ:TALK)

Cibc World Markets Corp bought a new position in Talkspace, Inc. (NASDAQ:TALK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 11,504 shares of the company’s stock, valued at approximately $36,000.

Several other large investors have also recently bought and sold shares of TALK. State Street Corp grew its holdings in shares of Talkspace by 36.4% during the third quarter. State Street Corp now owns 2,176,589 shares of the company’s stock worth $4,549,000 after purchasing an additional 580,826 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Talkspace by 448.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock worth $1,101,000 after buying an additional 430,861 shares during the period. First Eagle Investment Management LLC grew its holdings in Talkspace by 274.1% during the 4th quarter. First Eagle Investment Management LLC now owns 561,200 shares of the company’s stock worth $1,734,000 after acquiring an additional 411,200 shares during the last quarter. Clearline Capital LP increased its position in Talkspace by 28.1% in the 3rd quarter. Clearline Capital LP now owns 1,248,756 shares of the company’s stock valued at $2,610,000 after acquiring an additional 273,994 shares during the period. Finally, Royce & Associates LP raised its stake in shares of Talkspace by 39.7% during the fourth quarter. Royce & Associates LP now owns 698,722 shares of the company’s stock valued at $2,159,000 after acquiring an additional 198,722 shares during the last quarter. 57.37% of the stock is currently owned by institutional investors.

Talkspace Stock Down 1.5 %

TALK stock opened at $2.63 on Friday. The firm has a market cap of $442.99 million, a price-to-earnings ratio of 263.26 and a beta of 1.15. The company’s fifty day simple moving average is $3.16 and its 200 day simple moving average is $2.98. Talkspace, Inc. has a 12-month low of $1.60 and a 12-month high of $4.36.

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

Insider Transactions 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 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 of the company’s stock, valued at approximately $6,486,422.80. The trade was a 3.42 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 82,270 shares of company stock valued at $235,312 over the last ninety days. 21.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TALK shares. KeyCorp began coverage on shares of Talkspace in a research note on Monday, December 9th. They issued an “overweight” rating and a $4.50 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research report on Friday, February 21st. Finally, Mizuho started coverage on Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective for the company. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $4.38.

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.