Talkspace, Inc. (NASDAQ:TALK) Shares Bought by Clearline Capital LP

Clearline Capital LP increased its holdings in Talkspace, Inc. (NASDAQ:TALK) by 28.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,248,756 shares of the company’s stock after acquiring an additional 273,994 shares during the period. Clearline Capital LP owned approximately 0.74% of Talkspace worth $2,610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TALK. Creative Planning grew its holdings in shares of Talkspace by 30.6% during the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after purchasing an additional 6,179 shares during the period. MetLife Investment Management LLC boosted its stake in Talkspace by 27.1% during the third quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock worth $86,000 after buying an additional 8,764 shares during the period. Aigen Investment Management LP increased its position in shares of Talkspace by 37.8% during the third quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock valued at $74,000 after acquiring an additional 9,766 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new stake in shares of Talkspace in the 3rd quarter valued at approximately $33,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Talkspace in the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TALK shares. Northland Securities assumed coverage on Talkspace in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. Northland Capmk raised Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. Finally, Barclays increased their price target on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.00.

Insider Buying and Selling

In other Talkspace news, CFO Ian Jiro Harris acquired 23,100 shares of the stock in a transaction dated Thursday, September 19th. The stock was acquired at an average cost of $2.11 per share, with a total value of $48,741.00. Following the transaction, the chief financial officer now owns 397,657 shares in the company, valued at $839,056.27. The trade was a 6.17 % 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 own 21.70% of the company’s stock.

Talkspace Price Performance

TALK stock opened at $3.42 on Monday. Talkspace, Inc. has a 1 year low of $1.60 and a 1 year high of $3.92. The firm has a market capitalization of $577.72 million, a P/E ratio of -342.00 and a beta of 1.11. The business’s 50-day moving average is $2.83 and its two-hundred day moving average is $2.39.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. The company had revenue of $47.40 million during the quarter, compared to the consensus estimate of $47.50 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. On average, analysts expect that Talkspace, Inc. will post -0.02 EPS for the current year.

About Talkspace

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.