CenterBook Partners LP Acquires 928,744 Shares of Talkspace, Inc. (NASDAQ:TALK)

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

Other hedge funds also recently bought and sold shares of the company. Financial Management Professionals Inc. bought a new position in Talkspace in the 1st quarter worth $29,000. Cibc World Markets Corp purchased a new stake in Talkspace in the 4th quarter worth $36,000. Ameriprise Financial Inc. purchased a new stake in Talkspace in the 4th quarter worth $53,000. Blair William & Co. IL purchased a new stake in Talkspace in the 1st quarter worth $54,000. Finally, CWM LLC lifted its stake in Talkspace by 1,230.7% in the 1st quarter. CWM LLC now owns 21,265 shares of the company's stock worth $54,000 after purchasing an additional 19,667 shares in the last quarter. Institutional investors own 57.37% of the company's stock.

Insider Buying and Selling

In other news, CMO Katelyn Watson sold 39,000 shares of Talkspace stock in a transaction on Friday, June 6th. The stock was sold at an average price of $3.30, for a total transaction of $128,700.00. Following the completion of the sale, the chief marketing officer directly owned 433,997 shares in the company, valued at approximately $1,432,190.10. This trade represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 23.50% of the stock is owned by insiders.

Talkspace Stock Up 1.6%

NASDAQ TALK opened at $2.61 on Tuesday. The company has a fifty day moving average of $2.94 and a two-hundred day moving average of $3.01. The firm has a market capitalization of $436.71 million, a price-to-earnings ratio of 130.82 and a beta of 1.07. Talkspace, Inc. has a 52 week low of $1.60 and a 52 week high of $4.36.

Analyst Ratings Changes

Several brokerages have commented on TALK. Needham & Company LLC reiterated a "hold" rating on shares of Talkspace in a research note on Tuesday, May 6th. Canaccord Genuity Group began coverage on shares of Talkspace in a research note on Thursday, April 3rd. They issued a "buy" rating and a $5.00 price target on the stock. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Talkspace currently has an average rating of "Buy" and an average price target of $4.50.

About Talkspace

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.

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