Royce & Associates LP increased its stake in shares of Talkspace, Inc. (NASDAQ:TALK – Free Report) by 39.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,036,360 shares of the company’s stock after buying an additional 862,098 shares during the quarter. Royce & Associates LP’s holdings in Talkspace were worth $11,022,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Cerity Partners LLC acquired a new stake in Talkspace during the second quarter worth approximately $28,000. Xponance Inc. bought a new stake in Talkspace during the third quarter worth $31,000. Nierenberg Investment Management Company Inc. bought a new stake in Talkspace during the third quarter worth $32,000. Dynamic Technology Lab Private Ltd bought a new stake in Talkspace during the third quarter worth $35,000. Finally, Engineers Gate Manager LP bought a new stake in Talkspace during the second quarter worth $39,000. Institutional investors and hedge funds own 57.37% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on TALK. Wall Street Zen cut Talkspace from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Barclays cut their target price on Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a research note on Monday, March 9th. Needham & Company LLC cut Talkspace from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. KeyCorp cut Talkspace from an “overweight” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Northland Securities cut Talkspace from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.56.
Talkspace Stock Performance
Shares of TALK opened at $5.20 on Thursday. Talkspace, Inc. has a 52 week low of $2.22 and a 52 week high of $5.20. The stock has a market capitalization of $871.05 million, a price-to-earnings ratio of 520.52 and a beta of 1.07. The stock has a fifty day moving average of $5.18 and a 200-day moving average of $4.33.
Talkspace (NASDAQ:TALK – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The firm had revenue of $61.68 million during the quarter, compared to the consensus estimate of $63.32 million. Talkspace had a net margin of 0.49% and a return on equity of 1.03%. As a group, equities analysts forecast that Talkspace, Inc. will post 0.13 EPS for the current year.
Talkspace Profile
Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.
The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.
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