Summit Global Investments Takes Position in Talkspace, Inc. (NASDAQ:TALK)

Summit Global Investments acquired a new position in Talkspace, Inc. (NASDAQ:TALK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 179,672 shares of the company’s stock, valued at approximately $555,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cibc World Markets Corp bought a new stake in shares of Talkspace during the 4th quarter worth about $36,000. Royce & Associates LP raised its holdings in Talkspace by 39.7% during the fourth quarter. Royce & Associates LP now owns 698,722 shares of the company’s stock worth $2,159,000 after purchasing an additional 198,722 shares in the last quarter. Globeflex Capital L P bought a new stake in Talkspace during the fourth quarter worth approximately $117,000. First Eagle Investment Management LLC lifted its position in Talkspace by 274.1% in the fourth quarter. First Eagle Investment Management LLC now owns 561,200 shares of the company’s stock worth $1,734,000 after purchasing an additional 411,200 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Talkspace during the 4th quarter valued at $69,000. Institutional investors own 57.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TALK. Mizuho assumed coverage on Talkspace in a report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price objective for the company. KeyCorp initiated 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 restated a “hold” rating on shares of Talkspace in a research report on Friday, February 21st. Two investment 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 stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $4.38.

Insider Buying and Selling

In other Talkspace news, CEO Jon R. Cohen purchased 75,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $2.86 per share, with a total value of $214,500.00. Following the completion of the transaction, the chief executive officer now owns 2,267,980 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. In the last 90 days, insiders bought 82,270 shares of company stock valued at $235,312. Company insiders own 21.70% of the company’s stock.

Talkspace Stock Up 2.5 %

Shares of Talkspace stock opened at $2.87 on Tuesday. Talkspace, Inc. has a 12-month low of $1.60 and a 12-month high of $4.36. The firm has a market capitalization of $483.41 million, a PE ratio of 287.29 and a beta of 1.15. The stock’s fifty day moving average is $3.18 and its 200-day moving average is $2.97.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. The firm had revenue of $48.72 million for the quarter, compared to the consensus estimate of $49.94 million. Analysts expect that Talkspace, Inc. will post 0.08 EPS for the current year.

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.