Principal Financial Group Inc. Lowers Position in Talkspace, Inc. (NASDAQ:TALK)

Principal Financial Group Inc. trimmed its position in shares of Talkspace, Inc. (NASDAQ:TALK) by 25.9% during the third quarter, Holdings Channel.com reports. The fund owned 12,306 shares of the company’s stock after selling 4,301 shares during the quarter. Principal Financial Group Inc.’s holdings in Talkspace were worth $26,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TALK. Barclays PLC increased its holdings in Talkspace by 322.3% during the third quarter. Barclays PLC now owns 175,990 shares of the company’s stock worth $368,000 after buying an additional 134,313 shares during the last quarter. State Street Corp grew its position in shares of Talkspace by 36.4% during the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after acquiring an additional 580,826 shares during the period. Clearline Capital LP increased its stake in shares of Talkspace by 28.1% during the 3rd quarter. Clearline Capital LP now owns 1,248,756 shares of the company’s stock worth $2,610,000 after purchasing an additional 273,994 shares during the last quarter. Josh Arnold Investment Consultant LLC bought a new stake in shares of Talkspace in the 3rd quarter worth approximately $125,000. Finally, MetLife Investment Management LLC lifted its stake in Talkspace by 27.1% in the third quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock valued at $86,000 after purchasing an additional 8,764 shares during the last quarter. Institutional investors own 57.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TALK shares. KeyCorp assumed coverage on Talkspace in a report on Monday, December 9th. They issued an “overweight” rating and a $4.50 price objective for the company. Mizuho initiated coverage on shares of Talkspace in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Barclays lifted their price objective on shares of Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Northland Securities initiated coverage on Talkspace in a research report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $4.38.

Talkspace Stock Down 3.4 %

NASDAQ:TALK opened at $3.15 on Wednesday. The firm has a market capitalization of $532.11 million, a P/E ratio of -315.00 and a beta of 1.14. The company has a fifty day moving average of $3.25 and a 200 day moving average of $2.52. Talkspace, Inc. has a 52 week low of $1.60 and a 52 week high of $3.92.

Talkspace (NASDAQ:TALK) last posted its earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. The firm had revenue of $47.40 million during the quarter, compared to analysts’ expectations of $47.50 million. During the same period last year, the company posted ($0.03) EPS.

Talkspace Company 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.