Bank of New York Mellon Corp Increases Position in Talkspace, Inc. (NASDAQ:TALK)

Bank of New York Mellon Corp lifted its holdings in Talkspace, Inc. (NASDAQ:TALK) by 27.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 336,086 shares of the company’s stock after buying an additional 73,332 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.20% of Talkspace worth $1,039,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TALK. JPMorgan Chase & Co. boosted its stake in shares of Talkspace by 448.3% during the third quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock valued at $1,101,000 after purchasing an additional 430,861 shares during the period. Evernest Financial Advisors LLC bought a new position in Talkspace in the 4th quarter worth about $337,000. Barclays PLC increased its position in shares of Talkspace by 322.3% during the third quarter. Barclays PLC now owns 175,990 shares of the company’s stock worth $368,000 after acquiring an additional 134,313 shares during the period. State Street Corp raised its stake in shares of Talkspace by 36.4% during the third quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after acquiring an additional 580,826 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Talkspace by 829.3% in the fourth quarter. New York State Common Retirement Fund now owns 38,100 shares of the company’s stock valued at $118,000 after purchasing an additional 34,000 shares during the period. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TALK. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research report on Friday, February 21st. KeyCorp assumed coverage on Talkspace in a report on Monday, December 9th. They issued an “overweight” rating and a $4.50 price objective for the company. Finally, Mizuho assumed coverage on shares of Talkspace in a research note on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective on the stock. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $4.38.

Insider Activity

In other Talkspace news, CEO Jon R. Cohen purchased 75,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $2.86 per share, for a total transaction of $214,500.00. Following the completion of the purchase, the chief executive officer now owns 2,267,980 shares of the company’s stock, valued at approximately $6,486,422.80. The trade was a 3.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders acquired 82,270 shares of company stock worth $235,312. Insiders own 21.70% of the company’s stock.

Talkspace Price Performance

TALK opened at $2.87 on Tuesday. The firm has a market capitalization of $483.41 million, a PE ratio of 287.29 and a beta of 1.15. The business’s 50-day moving average is $3.18 and its two-hundred day moving average is $2.97. Talkspace, Inc. has a 1 year low of $1.60 and a 1 year high of $4.36.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $48.72 million during the quarter, compared to analyst estimates of $49.94 million. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. As a group, sell-side analysts expect that Talkspace, Inc. will post 0.08 EPS 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.