Nuveen Asset Management LLC Raises Stock Holdings in Talkspace, Inc. (NASDAQ:TALK)

Nuveen Asset Management LLC boosted its stake in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) by 170.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 604,947 shares of the company's stock after acquiring an additional 380,990 shares during the quarter. Nuveen Asset Management LLC owned 0.36% of Talkspace worth $1,869,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. SG Americas Securities LLC grew its position in shares of Talkspace by 68.0% in the 4th quarter. SG Americas Securities LLC now owns 79,282 shares of the company's stock valued at $245,000 after acquiring an additional 32,080 shares during the period. Belvedere Trading LLC acquired a new position in Talkspace during the fourth quarter worth $37,000. New York State Common Retirement Fund increased its position in Talkspace by 829.3% in the fourth quarter. New York State Common Retirement Fund now owns 38,100 shares of the company's stock worth $118,000 after buying an additional 34,000 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Talkspace by 27.9% in the fourth quarter. Bank of New York Mellon Corp now owns 336,086 shares of the company's stock valued at $1,039,000 after purchasing an additional 73,332 shares in the last quarter. Finally, Bailard Inc. bought a new position in shares of Talkspace during the fourth quarter valued at approximately $272,000. 57.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of Talkspace in a report on Thursday, April 3rd. They set a "buy" rating and a $5.00 price target on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Talkspace in a report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $4.50.

Insider Transactions at Talkspace

In related news, CMO Katelyn Watson sold 39,000 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $3.30, for a total value of $128,700.00. Following the completion of the transaction, the chief marketing officer now owns 433,997 shares of the company's stock, 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 is accessible through this hyperlink. 23.50% of the stock is owned by company insiders.

Talkspace Price Performance

TALK traded up $0.04 on Friday, hitting $3.29. The company had a trading volume of 1,418,885 shares, compared to its average volume of 1,920,434. The stock has a market cap of $550.47 million, a price-to-earnings ratio of 329.33 and a beta of 1.12. Talkspace, Inc. has a 1-year low of $1.60 and a 1-year high of $4.36. The company's fifty day moving average price is $2.96 and its 200 day moving average price is $3.10.

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.