Manatuck Hill Partners LLC Makes New Investment in Talkspace, Inc. (NASDAQ:TALK)

Manatuck Hill Partners LLC acquired a new stake in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 350,000 shares of the company's stock, valued at approximately $1,082,000. Manatuck Hill Partners LLC owned approximately 0.21% of Talkspace at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TALK. JPMorgan Chase & Co. lifted its stake in shares of Talkspace by 448.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company's stock valued at $1,101,000 after purchasing an additional 430,861 shares during the last quarter. Evernest Financial Advisors LLC bought a new position in shares of Talkspace in the 4th quarter worth $337,000. Barclays PLC lifted its position in shares of Talkspace by 322.3% during the third quarter. Barclays PLC now owns 175,990 shares of the company's stock valued at $368,000 after buying an additional 134,313 shares during the last quarter. Geode Capital Management LLC boosted its stake in Talkspace by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company's stock valued at $9,512,000 after acquiring an additional 63,072 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in Talkspace by 829.3% during the 4th 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. Hedge funds and other institutional investors own 57.37% of the company's stock.

Talkspace Stock Up 0.6 %

Shares of TALK traded up $0.02 during midday trading on Tuesday, reaching $3.15. The company had a trading volume of 3,877,414 shares, compared to its average volume of 1,862,329. The firm has a 50 day simple moving average of $2.82 and a 200-day simple moving average of $3.10. The stock has a market cap of $530.58 million, a PE ratio of 315.32 and a beta of 1.13. Talkspace, Inc. has a 1-year low of $1.60 and a 1-year high of $4.36.

Talkspace (NASDAQ:TALK - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $48.72 million for the quarter, compared to the consensus estimate of $49.94 million. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. As a group, sell-side analysts anticipate that Talkspace, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Talkspace news, CEO Jon R. Cohen acquired 75,000 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $2.86 per share, with a total value of $214,500.00. Following the transaction, the chief executive officer now owns 2,267,980 shares in the company, valued at $6,486,422.80. The trade was a 3.42 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 82,270 shares of company stock worth $235,312 over the last 90 days. 21.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TALK. Needham & Company LLC reaffirmed a "hold" rating on shares of Talkspace in a report on Tuesday. Canaccord Genuity Group started coverage on Talkspace in a research report on Thursday, April 3rd. They set 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently 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.