Man Group plc Acquires Shares of 155,705 Talkspace, Inc. (NASDAQ:TALK)

Man Group plc purchased a new stake in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 155,705 shares of the company's stock, valued at approximately $481,000. Man Group plc owned 0.09% of Talkspace as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evernest Financial Advisors LLC bought a new stake in shares of Talkspace in the 4th quarter valued at approximately $337,000. MetLife Investment Management LLC lifted its holdings in Talkspace by 87.9% during the 4th quarter. MetLife Investment Management LLC now owns 77,294 shares of the company's stock worth $239,000 after buying an additional 36,154 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Talkspace by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company's stock worth $9,512,000 after buying an additional 63,072 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 purchasing an additional 460,248 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of Talkspace by 829.3% in the 4th quarter. New York State Common Retirement Fund now owns 38,100 shares of the company's stock valued at $118,000 after purchasing an additional 34,000 shares during the period. 57.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Talkspace news, CEO Jon R. Cohen purchased 75,000 shares of Talkspace stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $2.86 per share, for a total transaction of $214,500.00. Following the completion of 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 23.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on TALK. Canaccord Genuity Group began coverage on Talkspace in a research note 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 investment 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's stock. According to MarketBeat, Talkspace presently has an average rating of "Buy" and an average target price of $4.50.

Talkspace Stock Performance

Talkspace stock traded up $0.32 during midday trading on Thursday, reaching $3.28. 9,309,191 shares of the company's stock were exchanged, compared to its average volume of 1,891,088. Talkspace, Inc. has a 52 week low of $1.60 and a 52 week high of $4.36. The firm has a market cap of $548.79 million, a price-to-earnings ratio of 328.33 and a beta of 1.13. The stock's 50-day simple moving average is $2.88 and its 200 day simple moving average is $3.10.

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.