Talkspace, Inc. (NASDAQ:TALK) Shares Sold by Shannon River Fund Management LLC

Shannon River Fund Management LLC reduced its stake in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 34.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,226,598 shares of the company's stock after selling 1,672,757 shares during the period. Talkspace makes up 1.5% of Shannon River Fund Management LLC's portfolio, making the stock its 15th largest holding. Shannon River Fund Management LLC owned approximately 1.91% of Talkspace worth $9,970,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cibc World Markets Corp bought a new position in Talkspace during the fourth quarter valued at $36,000. Belvedere Trading LLC bought a new stake in Talkspace during the fourth quarter worth approximately $37,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Talkspace during the fourth quarter valued at approximately $69,000. Sugar Maple Asset Management LLC boosted its holdings in shares of Talkspace by 75.0% in the 4th quarter. Sugar Maple Asset Management LLC now owns 28,000 shares of the company's stock worth $87,000 after purchasing an additional 12,000 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Talkspace by 48.5% during the 4th quarter. Legal & General Group Plc now owns 36,146 shares of the company's stock valued at $112,000 after purchasing an additional 11,809 shares during the last quarter. Institutional investors own 57.37% of the company's stock.

Wall Street Analyst Weigh In

TALK has been the subject of several recent analyst reports. Canaccord Genuity Group began coverage on shares of Talkspace in a research note on Thursday, April 3rd. They set a "buy" rating and a $5.00 price objective for the company. Needham & Company LLC reiterated a "hold" rating on shares of Talkspace in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Talkspace presently has an average rating of "Buy" and a consensus target price of $4.50.

Talkspace Price Performance

Shares of NASDAQ:TALK traded down $0.06 during trading on Friday, reaching $2.67. 1,131,281 shares of the company were exchanged, compared to its average volume of 1,823,480. The business's fifty day simple moving average is $2.94 and its 200-day simple moving average is $3.06. Talkspace, Inc. has a 12-month low of $1.60 and a 12-month high of $4.36. The firm has a market capitalization of $449.73 million, a PE ratio of 267.27 and a beta of 1.16.

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

Insider Buying and Selling

In related news, CEO Jon R. Cohen bought 75,000 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average price of $2.86 per share, for a total transaction of $214,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,267,980 shares in the company, valued at approximately $6,486,422.80. This represents a 3.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 82,270 shares of company stock valued at $235,312 over the last three months. 21.70% of the stock is owned by company insiders.

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.