Rhumbline Advisers Grows Position in Talkspace, Inc. (NASDAQ:TALK)

Rhumbline Advisers raised its stake in shares of Talkspace, Inc. (NASDAQ:TALK) by 2,357.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,215 shares of the company’s stock after buying an additional 129,713 shares during the quarter. Rhumbline Advisers owned about 0.08% of Talkspace worth $311,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP grew its holdings in shares of Talkspace by 5.3% in the first quarter. GSA Capital Partners LLP now owns 236,921 shares of the company’s stock worth $846,000 after acquiring an additional 11,977 shares during the period. Fifth Lane Capital LP bought a new stake in shares of Talkspace in the 1st quarter valued at approximately $55,000. Principal Financial Group Inc. bought a new stake in shares of Talkspace in the 2nd quarter valued at approximately $38,000. Essex Investment Management Co. LLC lifted its stake in shares of Talkspace by 1.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 1,339,494 shares of the company’s stock valued at $4,782,000 after purchasing an additional 20,613 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Talkspace during the 1st quarter worth approximately $74,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Talkspace Price Performance

TALK stock opened at $2.03 on Friday. The business has a 50 day simple moving average of $1.89 and a 200-day simple moving average of $2.51. The firm has a market capitalization of $344.46 million, a PE ratio of -25.38 and a beta of 1.21. Talkspace, Inc. has a 1 year low of $1.41 and a 1 year high of $3.92.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a report on Tuesday, August 6th.

Insider Activity at Talkspace

In related news, CFO Ian Jiro Harris acquired 23,100 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were acquired at an average price of $2.11 per share, with a total value of $48,741.00. Following the completion of the transaction, the chief financial officer now owns 397,657 shares of the company’s stock, valued at $839,056.27. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 18.40% of the stock is currently owned by insiders.

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.