Talkspace, Inc. (NASDAQ:TALK) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its position in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,158,471 shares of the company's stock after buying an additional 109,432 shares during the period. Northern Trust Corp owned about 0.69% of Talkspace worth $3,580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TALK. Vanguard Group Inc. grew its stake in Talkspace by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 7,180,787 shares of the company's stock worth $22,189,000 after acquiring an additional 315,741 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Talkspace by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company's stock worth $9,512,000 after purchasing an additional 63,072 shares during the last quarter. Voss Capital LP purchased a new stake in shares of Talkspace in the fourth quarter valued at $3,981,000. Dimensional Fund Advisors LP increased its stake in Talkspace by 133.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,211,308 shares of the company's stock valued at $3,744,000 after purchasing an additional 692,339 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Talkspace during the fourth quarter worth about $3,371,000. Hedge funds and other institutional investors own 57.37% of the company's stock.

Insiders Place Their Bets

In other news, CEO Jon R. Cohen acquired 75,000 shares of Talkspace stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $2.86 per share, with a total value of $214,500.00. Following the purchase, the chief executive officer now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 23.50% of the stock is currently owned by insiders.

Talkspace Stock Performance

Talkspace stock traded up $0.01 during midday trading on Wednesday, reaching $2.96. The stock had a trading volume of 899,984 shares, compared to its average volume of 1,861,414. The stock's 50-day simple moving average is $2.88 and its 200 day simple moving average is $3.10. Talkspace, Inc. has a twelve month low of $1.60 and a twelve month high of $4.36. The stock has a market capitalization of $495.25 million, a PE ratio of 296.30 and a beta of 1.13.

Analyst Upgrades and Downgrades

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