Charles Schwab Investment Management Inc. Raises Position in Talkspace, Inc. (NASDAQ:TALK)

Charles Schwab Investment Management Inc. boosted its holdings in Talkspace, Inc. (NASDAQ:TALK) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 389,312 shares of the company’s stock after purchasing an additional 10,835 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Talkspace were worth $1,203,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC raised its holdings in Talkspace by 27.1% in the 3rd quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock worth $86,000 after purchasing an additional 8,764 shares in the last quarter. Sugar Maple Asset Management LLC increased its holdings 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 acquiring an additional 12,000 shares in the last quarter. Belvedere Trading LLC purchased a new position in shares of Talkspace in the fourth quarter worth $37,000. FMR LLC lifted its holdings in shares of Talkspace by 24.2% during the 3rd quarter. FMR LLC now owns 124,085 shares of the company’s stock valued at $259,000 after buying an additional 24,198 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Talkspace during the 3rd quarter valued at about $56,000. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Talkspace

In other news, CEO Jon R. Cohen acquired 75,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $2.86 per share, with a total value of $214,500.00. Following the purchase, the chief executive officer now owns 2,267,980 shares of the company’s stock, valued at $6,486,422.80. This represents a 3.42 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders purchased 82,270 shares of company stock worth $235,312. Company insiders own 21.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Talkspace Stock Performance

NASDAQ:TALK opened at $2.63 on Friday. The company has a fifty day moving average of $3.16 and a two-hundred day moving average of $2.99. Talkspace, Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $4.36. The stock has a market capitalization of $442.99 million, a PE ratio of 263.26 and a beta of 1.15.

Talkspace (NASDAQ:TALK) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $48.72 million during the quarter, compared to the consensus estimate of $49.94 million. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. Research analysts forecast 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.