Renaissance Technologies LLC Sells 240,300 Shares of Talkspace, Inc. (NASDAQ:TALK)

Renaissance Technologies LLC lessened its stake in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 12.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,632,300 shares of the company's stock after selling 240,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.97% of Talkspace worth $5,044,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TALK. State Street Corp lifted its stake in Talkspace by 36.4% in the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company's stock worth $4,549,000 after purchasing an additional 580,826 shares in the last quarter. Barclays PLC lifted its position in shares of Talkspace by 322.3% in the third quarter. Barclays PLC now owns 175,990 shares of the company's stock worth $368,000 after buying an additional 134,313 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Talkspace by 448.3% in the third quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company's stock worth $1,101,000 after buying an additional 430,861 shares in the last quarter. Sugar Maple Asset Management LLC boosted its stake in Talkspace by 75.0% during the fourth quarter. Sugar Maple Asset Management LLC now owns 28,000 shares of the company's stock valued at $87,000 after buying an additional 12,000 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Talkspace by 68.0% during the 4th quarter. SG Americas Securities LLC now owns 79,282 shares of the company's stock valued at $245,000 after buying an additional 32,080 shares in the last quarter. Institutional investors own 57.37% of the company's stock.

Insider Activity

In other Talkspace news, CEO Jon R. Cohen purchased 75,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was purchased 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 owns 2,267,980 shares of the company's stock, valued at approximately $6,486,422.80. The trade was a 3.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have acquired 82,270 shares of company stock valued at $235,312. 21.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Needham & Company LLC reiterated a "hold" rating on shares of Talkspace in a research report on Friday, February 21st. Canaccord Genuity Group began coverage on shares of Talkspace in a research report on Thursday, April 3rd. They set a "buy" rating and a $5.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Talkspace currently has a consensus rating of "Buy" and an average target price of $4.50.

Talkspace Stock Performance

NASDAQ TALK traded down $0.03 on Friday, hitting $3.10. 389,545 shares of the stock were exchanged, compared to its average volume of 1,824,284. Talkspace, Inc. has a 52-week low of $1.60 and a 52-week high of $4.36. The firm has a market capitalization of $521.31 million, a P/E ratio of 309.81 and a beta of 1.16. The stock has a fifty day moving average price of $2.84 and a two-hundred day moving average price of $3.07.

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

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.