Royce & Associates LP Makes New Investment in Talkspace, Inc. (NASDAQ:TALK)

Royce & Associates LP purchased a new stake in shares of Talkspace, Inc. (NASDAQ:TALK) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 500,000 shares of the company’s stock, valued at approximately $1,045,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TALK. Dimensional Fund Advisors LP bought a new position in shares of Talkspace in the 2nd quarter valued at about $921,000. Divisadero Street Capital Management LP grew its position in shares of Talkspace by 13.2% in the 2nd quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock valued at $7,157,000 after purchasing an additional 361,717 shares during the period. Bank of New York Mellon Corp raised its holdings in Talkspace by 2,480.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock worth $814,000 after buying an additional 340,030 shares during the period. Rhumbline Advisers lifted its stake in Talkspace by 2,357.6% in the second quarter. Rhumbline Advisers now owns 135,215 shares of the company’s stock valued at $311,000 after buying an additional 129,713 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Talkspace in the second quarter valued at approximately $264,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Northland Securities assumed coverage on Talkspace in a research report on Wednesday. They set an “outperform” rating and a $5.00 price objective for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th.

Insider Transactions at Talkspace

In other news, CFO Ian Jiro Harris bought 19,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were acquired at an average cost of $2.20 per share, for a total transaction of $42,900.00. Following the completion of the acquisition, the chief financial officer now owns 347,057 shares in the company, valued at approximately $763,525.40. This represents a 5.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 21.70% of the company’s stock.

Talkspace Trading Up 2.3 %

Talkspace stock opened at $3.16 on Thursday. Talkspace, Inc. has a 1-year low of $1.60 and a 1-year high of $3.92. The company has a fifty day simple moving average of $2.64 and a 200 day simple moving average of $2.36. The company has a market cap of $533.79 million, a P/E ratio of -316.00 and a beta of 1.11.

Talkspace (NASDAQ:TALK) last released its earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The business had revenue of $47.40 million for the quarter, compared to the consensus estimate of $47.50 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. On average, equities research analysts forecast that Talkspace, Inc. will post -0.03 EPS for the current year.

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.