Millennium Management LLC Boosts Holdings in Talkspace, Inc. (NASDAQ:TALK)

Millennium Management LLC raised its position in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,258,612 shares of the company's stock after purchasing an additional 179,996 shares during the period. Millennium Management LLC owned 0.75% of Talkspace worth $3,889,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Talkspace by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 389,312 shares of the company's stock valued at $1,203,000 after acquiring an additional 10,835 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Talkspace by 27.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 50,177 shares of the company's stock worth $156,000 after acquiring an additional 10,849 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Talkspace in the fourth quarter worth $36,000. Legal & General Group Plc grew its position in shares of Talkspace by 48.5% in the fourth quarter. Legal & General Group Plc now owns 36,146 shares of the company's stock valued at $112,000 after purchasing an additional 11,809 shares in the last quarter. Finally, Belvedere Trading LLC bought a new stake in shares of Talkspace during the 4th quarter valued at $37,000. 57.37% of the stock is currently owned by institutional investors.

Talkspace Stock Performance

TALK traded down $0.02 during trading on Tuesday, reaching $3.33. The stock had a trading volume of 977,985 shares, compared to its average volume of 1,900,608. The business has a 50-day moving average of $2.91 and a 200-day moving average of $3.10. Talkspace, Inc. has a one year low of $1.60 and a one year high of $4.36. The stock has a market cap of $557.16 million, a PE ratio of 333.33 and a beta of 1.12.

Wall Street Analysts Forecast Growth

TALK has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Talkspace in a research note on Tuesday, May 6th. Canaccord Genuity Group started coverage on Talkspace in a research note on Thursday, April 3rd. They set a "buy" rating and a $5.00 price objective for the company. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $4.50.

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.