Russell Investments Group Ltd. Grows Stock Holdings in Talkspace, Inc. (NASDAQ:TALK)

Russell Investments Group Ltd. boosted its holdings in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 94,091.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,042 shares of the company's stock after purchasing an additional 128,905 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of Talkspace worth $399,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in Talkspace by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 389,312 shares of the company's stock valued at $1,203,000 after purchasing an additional 10,835 shares during the last quarter. Cibc World Markets Corp acquired a new position in Talkspace in the 4th quarter valued at $36,000. Sugar Maple Asset Management LLC increased its stake in Talkspace by 75.0% in the 4th 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 period. Belvedere Trading LLC acquired a new position in Talkspace in the 4th quarter valued at $37,000. Finally, Wells Fargo & Company MN increased its stake in Talkspace by 51.3% in the 4th quarter. Wells Fargo & Company MN now owns 58,432 shares of the company's stock valued at $181,000 after buying an additional 19,817 shares during the period. Hedge funds and other institutional investors own 57.37% of the company's stock.

Talkspace Trading Up 1.5 %

Shares of NASDAQ:TALK traded up $0.05 on Tuesday, reaching $3.15. 349,366 shares of the company were exchanged, compared to its average volume of 1,827,126. Talkspace, Inc. has a 1-year low of $1.60 and a 1-year high of $4.36. The firm has a market cap of $529.73 million, a price-to-earnings ratio of 313.71 and a beta of 1.16. The company has a 50-day moving average of $2.81 and a 200-day moving average of $3.09.

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

Wall Street Analyst Weigh In

TALK has been the topic of several recent research reports. Needham & Company LLC reissued a "hold" rating on shares of Talkspace in a research note on Friday, February 21st. Canaccord Genuity Group initiated coverage on shares of Talkspace in a research note on Thursday, April 3rd. They set a "buy" rating and a $5.00 price target on the stock. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $4.50.

Insider Activity at Talkspace

In other Talkspace news, CEO Jon R. Cohen acquired 75,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were 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 in the company, valued at approximately $6,486,422.80. The trade was a 3.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders have acquired 82,270 shares of company stock valued at $235,312. Insiders own 21.70% of the company's stock.

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.