507,118 Shares in Talkspace, Inc. (NASDAQ:TALK) Acquired by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC bought a new position in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 507,118 shares of the company's stock, valued at approximately $1,298,000. Valeo Financial Advisors LLC owned approximately 0.30% of Talkspace at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Talkspace in the first quarter worth $104,000. MetLife Investment Management LLC increased its stake in shares of Talkspace by 87.9% in the fourth 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of Talkspace by 2.1% in the fourth 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 during the last quarter. ProShare Advisors LLC increased its stake in shares of Talkspace by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 34,622 shares of the company's stock worth $107,000 after buying an additional 11,392 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in Talkspace by 14.2% during the fourth quarter. Two Sigma Investments LP now owns 668,723 shares of the company's stock valued at $2,066,000 after purchasing an additional 82,921 shares during the last quarter. 57.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of Talkspace in a research note on Thursday, April 3rd. They set a "buy" rating and a $5.00 target price for the company. Needham & Company LLC reiterated a "hold" rating on shares of Talkspace in a research report on Tuesday, May 6th. Two 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 MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $4.50.

Insider Buying and Selling

In other news, CMO Katelyn Watson sold 39,000 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $3.30, for a total value of $128,700.00. Following the transaction, the chief marketing officer owned 433,997 shares in the company, valued at $1,432,190.10. This represents a 8.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 23.50% of the company's stock.

Talkspace Trading Down 4.0%

TALK stock traded down $0.11 during mid-day trading on Friday, reaching $2.64. 1,169,382 shares of the stock traded hands, compared to its average volume of 1,887,283. Talkspace, Inc. has a 52-week low of $1.60 and a 52-week high of $4.36. The company has a market cap of $441.72 million, a P/E ratio of 132.07 and a beta of 1.07. The stock's fifty day moving average is $2.94 and its 200-day moving average is $3.01.

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.