First Eagle Investment Management LLC Acquires 289,500 Shares of Talkspace, Inc. $TALK

First Eagle Investment Management LLC boosted its holdings in shares of Talkspace, Inc. (NASDAQ:TALK) by 18.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,890,630 shares of the company’s stock after acquiring an additional 289,500 shares during the period. First Eagle Investment Management LLC’s holdings in Talkspace were worth $5,218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in shares of Talkspace during the third quarter valued at approximately $25,000. Cerity Partners LLC purchased a new stake in shares of Talkspace in the 2nd quarter worth approximately $28,000. Neuberger Berman Group LLC purchased a new stake in shares of Talkspace in the 2nd quarter worth approximately $29,000. Xponance Inc. bought a new position in Talkspace during the 3rd quarter valued at approximately $31,000. Finally, Nierenberg Investment Management Company Inc. purchased a new position in Talkspace during the third quarter valued at $32,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TALK. Barclays initiated coverage on Talkspace in a report on Monday, December 8th. They issued an “equal weight” rating and a $3.50 target price on the stock. Wall Street Zen upgraded shares of Talkspace from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Needham & Company LLC raised their price objective on shares of Talkspace from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Canaccord Genuity Group set a $6.00 target price on shares of Talkspace in a report on Tuesday, December 30th. Finally, UBS Group reiterated a “buy” rating on shares of Talkspace in a report on Tuesday, December 30th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Talkspace presently has a consensus rating of “Moderate Buy” and an average price target of $5.13.

Talkspace Stock Performance

Shares of NASDAQ:TALK opened at $4.93 on Thursday. The firm has a market cap of $816.70 million, a price-to-earnings ratio of 98.62 and a beta of 1.18. The business has a 50-day simple moving average of $4.04 and a two-hundred day simple moving average of $3.35. Talkspace, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $5.18.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Talkspace had a net margin of 3.40% and a return on equity of 6.97%. The firm had revenue of $63.00 million for the quarter, compared to the consensus estimate of $61.91 million. As a group, research analysts predict that Talkspace, Inc. will post 0.08 earnings per share for the current year.

About Talkspace

Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.