State Street Corp Raises Position in Talkspace, Inc. (NASDAQ:TALK)

State Street Corp grew its holdings in shares of Talkspace, Inc. (NASDAQ:TALK) by 36.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,176,589 shares of the company’s stock after purchasing an additional 580,826 shares during the quarter. State Street Corp owned approximately 1.29% of Talkspace worth $4,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sugar Maple Asset Management LLC acquired a new position in Talkspace during the third quarter worth $33,000. Principal Financial Group Inc. acquired a new position in Talkspace in the 2nd quarter valued at about $38,000. Creative Planning increased its stake in Talkspace by 30.6% during the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after buying an additional 6,179 shares during the period. Intech Investment Management LLC purchased a new stake in Talkspace during the 3rd quarter worth about $56,000. Finally, Aigen Investment Management LP raised its holdings in shares of Talkspace by 37.8% in the 3rd quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock valued at $74,000 after purchasing an additional 9,766 shares in the last quarter. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Talkspace Price Performance

NASDAQ TALK opened at $3.15 on Monday. The company has a market cap of $532.11 million, a P/E ratio of -315.00 and a beta of 1.12. The company has a 50-day moving average of $3.21 and a 200-day moving average of $2.47. Talkspace, Inc. has a 12 month low of $1.60 and a 12 month high of $3.92.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $47.40 million during the quarter, compared to analysts’ expectations 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 prior year, the company earned ($0.03) EPS.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Mizuho started coverage on shares of Talkspace in a research note on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price target on the stock. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. KeyCorp started coverage on shares of Talkspace in a research note on Monday, December 9th. They set an “overweight” rating and a $4.50 price target on the stock. Barclays lifted their price objective on Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Talkspace has an average rating of “Buy” and an average target price of $4.38.

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.