Talkspace, Inc. (NASDAQ:TALK) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC lifted its stake in shares of Talkspace, Inc. (NASDAQ:TALK) by 87.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TALK. Arrowstreet Capital Limited Partnership bought a new position in Talkspace during the 4th quarter valued at $3,371,000. Dimensional Fund Advisors LP grew its holdings in Talkspace by 133.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,211,308 shares of the company’s stock worth $3,744,000 after acquiring an additional 692,339 shares during the period. JPMorgan Chase & Co. grew its holdings in Talkspace by 87.3% during the fourth quarter. JPMorgan Chase & Co. now owns 987,220 shares of the company’s stock worth $3,051,000 after acquiring an additional 460,248 shares during the period. First Eagle Investment Management LLC lifted its holdings in Talkspace by 274.1% in the 4th quarter. First Eagle Investment Management LLC now owns 561,200 shares of the company’s stock valued at $1,734,000 after acquiring an additional 411,200 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Talkspace by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 7,180,787 shares of the company’s stock valued at $22,189,000 after purchasing an additional 315,741 shares in the last quarter. Institutional investors own 57.37% of the company’s stock.

Talkspace Stock Performance

Talkspace stock opened at $3.04 on Thursday. The company has a 50 day moving average price of $2.83 and a 200 day moving average price of $3.10. Talkspace, Inc. has a 52 week low of $1.60 and a 52 week high of $4.36. The firm has a market capitalization of $511.21 million, a price-to-earnings ratio of 303.80 and a beta of 1.13.

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

Insider Activity

In related news, CEO Jon R. Cohen acquired 75,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $2.86 per share, for a total transaction of $214,500.00. Following the purchase, the chief executive officer now owns 2,267,980 shares in the company, valued at $6,486,422.80. This represents a 3.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 82,270 shares of company stock worth $235,312 in the last 90 days. Company insiders own 21.70% of the company’s stock.

Analysts Set New Price Targets

TALK has been the topic of a number of research reports. Canaccord Genuity Group started coverage on shares of Talkspace in a report on Thursday, April 3rd. They issued a “buy” rating and a $5.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research report on Tuesday. Two 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. According to data from MarketBeat.com, the stock currently has a consensus 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.