CenterBook Partners LP Grows Stake in Talkspace, Inc. (NASDAQ:TALK)

CenterBook Partners LP boosted its holdings in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 410.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,155,006 shares of the company's stock after acquiring an additional 928,744 shares during the quarter. CenterBook Partners LP owned 0.69% of Talkspace worth $2,957,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TALK. Deutsche Bank AG increased its stake in Talkspace by 103.1% in the 4th quarter. Deutsche Bank AG now owns 4,615,485 shares of the company's stock worth $14,262,000 after acquiring an additional 2,342,913 shares during the last quarter. Voss Capital LP bought a new position in Talkspace in the 4th quarter worth about $3,981,000. Arrowstreet Capital Limited Partnership bought a new position in Talkspace in the 4th quarter worth about $3,371,000. Balyasny Asset Management L.P. bought a new position in Talkspace in the 4th quarter worth about $3,179,000. Finally, Metavasi Capital LP bought a new position in Talkspace in the 4th quarter worth about $2,295,000. 57.37% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Talkspace news, CMO Katelyn Watson sold 39,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $3.30, for a total value of $128,700.00. Following the completion of the sale, the chief marketing officer owned 433,997 shares in the company, valued at approximately $1,432,190.10. This trade represents a 8.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 23.50% of the company's stock.

Talkspace Trading Down 1.6%

NASDAQ TALK traded down $0.04 on Friday, hitting $2.48. The company's stock had a trading volume of 1,471,224 shares, compared to its average volume of 1,901,558. Talkspace, Inc. has a 52-week low of $1.60 and a 52-week high of $4.36. The company's 50-day simple moving average is $2.90 and its 200 day simple moving average is $3.00. The firm has a market cap of $414.95 million, a P/E ratio of 124.06 and a beta of 1.07.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TALK shares. Canaccord Genuity Group started coverage on Talkspace in a research report on Thursday, April 3rd. They set a "buy" rating and a $5.00 price objective on the stock. Needham & Company LLC restated a "hold" rating on shares of Talkspace in a report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Talkspace has an average rating of "Buy" and a consensus target price 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.