Balyasny Asset Management L.P. Purchases New Holdings in Talkspace, Inc. (NASDAQ:TALK)

Balyasny Asset Management L.P. purchased a new stake in shares of Talkspace, Inc. (NASDAQ:TALK) in the fourth quarter, Holdings Channel reports. The firm purchased 1,028,702 shares of the company’s stock, valued at approximately $3,179,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Talkspace by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 7,180,787 shares of the company’s stock valued at $22,189,000 after acquiring an additional 315,741 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Talkspace by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company’s stock valued at $9,512,000 after acquiring an additional 63,072 shares during the last quarter. Voss Capital LP purchased a new stake in shares of Talkspace during the fourth quarter valued at approximately $3,981,000. Dimensional Fund Advisors LP grew its holdings in Talkspace by 133.4% during the fourth 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 grew its holdings in Talkspace by 10.4% during the fourth 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 hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a report on Tuesday, May 6th. Canaccord Genuity Group assumed coverage on Talkspace in a report on Thursday, April 3rd. They set a “buy” rating and a $5.00 price objective for the company. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $4.50.

Insider Transactions at Talkspace

In related news, CEO Jon R. Cohen purchased 75,000 shares of the business’s 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 acquisition, the chief executive officer now directly 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 82,270 shares of company stock valued at $235,312 over the last three months. Company insiders own 21.70% of the company’s stock.

Talkspace Price Performance

Talkspace stock opened at $3.02 on Monday. Talkspace, Inc. has a one year low of $1.60 and a one year high of $4.36. The business has a fifty day moving average price of $2.84 and a 200-day moving average price of $3.11. The firm has a market capitalization of $508.68 million, a P/E ratio of 302.30 and a beta of 1.13.

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