Balyasny Asset Management L.P. Acquires Shares of 1,028,702 Talkspace, Inc. (NASDAQ:TALK)

Balyasny Asset Management L.P. acquired a new stake in Talkspace, Inc. (NASDAQ:TALK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,028,702 shares of the company's stock, valued at approximately $3,179,000. Balyasny Asset Management L.P. owned approximately 0.61% of Talkspace at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TALK. Voss Capital LP acquired a new stake in shares of Talkspace in the fourth quarter valued at $3,981,000. Arrowstreet Capital Limited Partnership purchased a new position in Talkspace in the fourth quarter valued at $3,371,000. Metavasi Capital LP purchased a new position in Talkspace in the fourth quarter valued at $2,295,000. Dimensional Fund Advisors LP boosted its holdings in Talkspace by 133.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,211,308 shares of the company's stock valued at $3,744,000 after purchasing an additional 692,339 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Talkspace by 87.3% in the fourth quarter. JPMorgan Chase & Co. now owns 987,220 shares of the company's stock valued at $3,051,000 after purchasing an additional 460,248 shares during the period. 57.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jon R. Cohen bought 75,000 shares of Talkspace stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $2.86 per share, with a total value of $214,500.00. Following the acquisition, the chief executive officer now owns 2,267,980 shares of the company's stock, valued at approximately $6,486,422.80. This trade represents a 3.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders bought 82,270 shares of company stock valued at $235,312. Insiders own 23.50% of the company's stock.

Talkspace Stock Performance

Shares of NASDAQ:TALK traded up $0.02 on Wednesday, hitting $3.09. 1,888,914 shares of the company's stock were exchanged, compared to its average volume of 1,854,595. The firm's 50-day moving average is $2.85 and its 200 day moving average is $3.11. The company has a market capitalization of $517.00 million, a PE ratio of 309.31 and a beta of 1.13. Talkspace, Inc. has a 1-year low of $1.60 and a 1-year high of $4.36.

Talkspace (NASDAQ:TALK - Get Free Report) last released 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 business had revenue of $48.72 million during the quarter, compared to analysts' expectations of $49.94 million. On average, analysts anticipate that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TALK has been the subject of a number of recent research reports. Canaccord Genuity Group initiated coverage on Talkspace in a report on Thursday, April 3rd. They issued a "buy" rating and a $5.00 target price for the company. Needham & Company LLC reiterated a "hold" rating on shares of Talkspace in a report on Tuesday, May 6th. Two research 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $4.50.

Talkspace 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.