Balyasny Asset Management L.P. Takes Position in Talkspace, Inc. (NASDAQ:TALK)

Balyasny Asset Management L.P. acquired a new stake in Talkspace, Inc. (NASDAQ:TALK) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,028,702 shares of the company’s stock, valued at approximately $3,179,000. Balyasny Asset Management L.P. owned 0.61% of Talkspace at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Talkspace by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 7,180,787 shares of the company’s stock valued at $22,189,000 after purchasing an additional 315,741 shares during the period. Geode Capital Management LLC lifted its stake in shares of Talkspace by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company’s stock valued at $9,512,000 after purchasing an additional 63,072 shares during the period. Voss Capital LP acquired a new position in shares of Talkspace in the 4th quarter valued at about $3,981,000. Dimensional Fund Advisors LP lifted its stake in shares of Talkspace by 133.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,211,308 shares of the company’s stock valued at $3,744,000 after purchasing an additional 692,339 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Talkspace by 10.4% in the 4th quarter. Northern Trust Corp now owns 1,158,471 shares of the company’s stock valued at $3,580,000 after purchasing an additional 109,432 shares during the period. 57.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Canaccord Genuity Group started coverage on Talkspace in a research note on Thursday, April 3rd. They set a “buy” rating and a $5.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research note on Tuesday, May 6th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $4.50.

Insider Transactions at Talkspace

In related news, CEO Jon R. Cohen acquired 75,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $2.86 per share, with a total value of $214,500.00. Following the completion of the purchase, the chief executive officer now directly owns 2,267,980 shares in the company, valued at $6,486,422.80. This trade represents a 3.42% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 82,270 shares of company stock valued at $235,312 over the last ninety days. 21.70% of the stock is currently owned by insiders.

Talkspace Stock Performance

TALK stock opened at $3.02 on Monday. The stock’s 50 day simple moving average is $2.84 and its 200 day simple moving average is $3.11. Talkspace, Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $4.36. The company has a market cap of $508.68 million, a P/E ratio of 302.30 and a beta of 1.13.

Talkspace (NASDAQ:TALK) last issued 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 the consensus estimate of $49.94 million. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. Equities analysts predict that Talkspace, Inc. will post 0.08 earnings per share for the current year.

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.