JPMorgan Chase & Co. Purchases 430,861 Shares of Talkspace, Inc. (NASDAQ:TALK)

JPMorgan Chase & Co. raised its position in shares of Talkspace, Inc. (NASDAQ:TALK) by 448.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 526,972 shares of the company’s stock after acquiring an additional 430,861 shares during the period. JPMorgan Chase & Co. owned approximately 0.31% of Talkspace worth $1,101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TALK. State Street Corp raised its stake in Talkspace by 36.4% during the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after purchasing an additional 580,826 shares during the last quarter. Royce & Associates LP bought a new position in shares of Talkspace during the 3rd quarter worth about $1,045,000. Dimensional Fund Advisors LP acquired a new position in shares of Talkspace during the second quarter valued at about $921,000. Clearline Capital LP lifted its stake in shares of Talkspace by 28.1% in the third quarter. Clearline Capital LP now owns 1,248,756 shares of the company’s stock valued at $2,610,000 after buying an additional 273,994 shares during the period. Finally, Barclays PLC grew its position in Talkspace by 322.3% during the third quarter. Barclays PLC now owns 175,990 shares of the company’s stock worth $368,000 after buying an additional 134,313 shares in the last quarter. 57.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on TALK shares. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Northland Securities began coverage on shares of Talkspace in a report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target on the stock. Mizuho initiated coverage on shares of Talkspace in a report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective for the company. Finally, Barclays upped their target price on shares of Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Talkspace currently has a consensus rating of “Buy” and an average price target of $4.38.

Talkspace Stock Performance

Shares of NASDAQ TALK opened at $3.20 on Friday. Talkspace, Inc. has a 52-week low of $1.60 and a 52-week high of $3.92. The business has a fifty day moving average of $3.20 and a two-hundred day moving average of $2.59. The stock has a market cap of $540.54 million, a PE ratio of -320.00 and a beta of 1.14.

Talkspace (NASDAQ:TALK) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. The firm 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 earned ($0.03) earnings per share. Analysts predict that Talkspace, Inc. will post 0.02 earnings per share for the current year.

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.