First Eagle Investment Management LLC Purchases 289,500 Shares of Talkspace, Inc. $TALK

Key Points

• First Eagle Investment Management raised its stake in Talkspace by 18.1%, buying 289,500 shares to hold 1,890,630 shares (about 1.14% of the company) valued at roughly $5.22 million.
• Analysts have a consensus rating of Moderate Buy with an average price target of $5.13, and several firms (including Canaccord and Needham) have set or raised targets to $6.00 or reiterated buy ratings.
• Talkspace recently beat quarterly estimates with $0.03 EPS versus $0.02 expected and $63M revenue; shares trade around $4.93 with a market cap near $817 million.

First Eagle Investment Management LLC raised its holdings in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) by 18.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,890,630 shares of the company's stock after purchasing an additional 289,500 shares during the quarter. First Eagle Investment Management LLC owned approximately 1.14% of Talkspace worth $5,218,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in Talkspace during the 3rd quarter worth about $25,000. Cerity Partners LLC bought a new stake in shares of Talkspace in the 2nd quarter worth approximately $28,000. Neuberger Berman Group LLC purchased a new stake in Talkspace during the second quarter valued at about $29,000. Xponance Inc. purchased a new stake in Talkspace during the 3rd quarter valued at about $31,000. Finally, Nierenberg Investment Management Company Inc. purchased a new stake in shares of Talkspace during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 57.37% of the company's stock.

Analysts Set New Price Targets

TALK has been the subject of several analyst reports. Wall Street Zen raised shares of Talkspace from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 28th. UBS Group reiterated a "buy" rating on shares of Talkspace in a report on Tuesday, December 30th. Canaccord Genuity Group set a $6.00 target price on Talkspace in a research note on Tuesday, December 30th. Weiss Ratings restated a "hold (c-)" rating on shares of Talkspace in a report on Monday, December 29th. Finally, Needham & Company LLC increased their price objective on Talkspace from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $5.13.

Talkspace Price Performance

Shares of TALK opened at $4.93 on Thursday. The company has a 50-day simple moving average of $4.04 and a two-hundred day simple moving average of $3.35. The firm has a market capitalization of $816.70 million, a PE ratio of 98.62 and a beta of 1.18. Talkspace, Inc. has a one year low of $2.22 and a one year high of $5.18.

Talkspace (NASDAQ:TALK - Get Free Report) last announced its earnings results on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $63.00 million during the quarter, compared to analyst estimates of $61.91 million. Talkspace had a return on equity of 6.97% and a net margin of 3.40%. Analysts expect that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Talkspace Company Profile

Talkspace, Inc NASDAQ: TALK is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company's platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company's core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.

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