Principal Financial Group Inc. Decreases Stock Holdings in Talkspace, Inc. (NASDAQ:TALK)

Principal Financial Group Inc. lessened its stake in Talkspace, Inc. (NASDAQ:TALK) by 25.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,306 shares of the company’s stock after selling 4,301 shares during the quarter. Principal Financial Group Inc.’s holdings in Talkspace were worth $26,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Creative Planning grew its position in shares of Talkspace by 30.6% in the third quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after purchasing an additional 6,179 shares during the period. Virtu Financial LLC purchased a new position in Talkspace in the 1st quarter valued at about $74,000. Clear Harbor Asset Management LLC acquired a new stake in Talkspace in the 3rd quarter worth about $84,000. SG Americas Securities LLC acquired a new stake in Talkspace in the 3rd quarter worth about $99,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Talkspace during the 2nd quarter worth approximately $113,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Talkspace Stock Down 3.5 %

NASDAQ TALK opened at $3.31 on Wednesday. The business’s fifty day simple moving average is $2.73 and its 200-day simple moving average is $2.37. The firm has a market cap of $559.13 million, a PE ratio of -331.00 and a beta of 1.11. Talkspace, Inc. has a 52 week low of $1.60 and a 52 week high of $3.92.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TALK. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Northland Securities initiated coverage on Talkspace in a report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price objective on the stock. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. Finally, Barclays raised their price target on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Talkspace has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

Insider Buying and Selling at Talkspace

In related news, CFO Ian Jiro Harris acquired 23,100 shares of Talkspace stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average cost of $2.11 per share, for a total transaction of $48,741.00. Following the acquisition, the chief financial officer now owns 397,657 shares in the company, valued at approximately $839,056.27. This represents a 6.17 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company 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.