Talkspace, Inc. (NASDAQ:TALK) Stock Holdings Lessened by CenterBook Partners LP

CenterBook Partners LP reduced its holdings in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 67.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 226,262 shares of the company's stock after selling 463,450 shares during the quarter. CenterBook Partners LP owned approximately 0.13% of Talkspace worth $699,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Talkspace by 4.6% in 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of Talkspace by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company's stock valued at $9,512,000 after purchasing an additional 63,072 shares during the period. State Street Corp raised its holdings in shares of Talkspace by 36.4% during the third quarter. State Street Corp now owns 2,176,589 shares of the company's stock valued at $4,549,000 after buying an additional 580,826 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Talkspace during the fourth quarter worth approximately $3,371,000. Finally, JPMorgan Chase & Co. increased its position in Talkspace by 87.3% in the 4th quarter. JPMorgan Chase & Co. now owns 987,220 shares of the company's stock valued at $3,051,000 after acquiring an additional 460,248 shares during the period. 57.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TALK has been the subject of a number of analyst reports. Canaccord Genuity Group initiated coverage on Talkspace in a research report on Thursday, April 3rd. They set a "buy" rating and a $5.00 price target for the company. Needham & Company LLC restated a "hold" rating on shares of Talkspace in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Talkspace presently has an average rating of "Buy" and a consensus target price of $4.50.

Talkspace Stock Performance

Shares of NASDAQ:TALK traded down $0.01 during trading hours on Thursday, hitting $2.73. 526,230 shares of the company's stock traded hands, compared to its average volume of 1,813,010. The company's fifty day simple moving average is $3.00 and its two-hundred day simple moving average is $3.05. Talkspace, Inc. has a 52 week low of $1.60 and a 52 week high of $4.36. The company has a market cap of $458.99 million, a price-to-earnings ratio of 272.77 and a beta of 1.16.

Talkspace (NASDAQ:TALK - Get Free Report) last posted its quarterly earnings results 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 net margin of 0.61% and a return on equity of 0.98%. The firm had revenue of $48.72 million for the quarter, compared to analyst estimates of $49.94 million. On average, analysts anticipate that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at Talkspace

In other news, CEO Jon R. Cohen acquired 75,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $2.86 per share, with a total value of $214,500.00. Following the purchase, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased 82,270 shares of company stock worth $235,312 in the last quarter. 21.70% of the stock is owned by company insiders.

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.