179,672 Shares in Talkspace, Inc. (NASDAQ:TALK) Purchased by Summit Global Investments

Summit Global Investments acquired a new stake in shares of Talkspace, Inc. (NASDAQ:TALK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 179,672 shares of the company’s stock, valued at approximately $555,000. Summit Global Investments owned approximately 0.11% of Talkspace as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cibc World Markets Corp acquired a new stake in shares of Talkspace during the fourth quarter worth approximately $36,000. Belvedere Trading LLC bought a new stake in shares of Talkspace in the 4th quarter worth about $37,000. Intech Investment Management LLC acquired a new stake in shares of Talkspace in the 3rd quarter valued at about $56,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Talkspace in the 4th quarter valued at about $69,000. Finally, MetLife Investment Management LLC lifted its position in shares of Talkspace by 27.1% during the third quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock worth $86,000 after purchasing an additional 8,764 shares during the last quarter. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Talkspace

In other news, CEO Jon R. Cohen purchased 75,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were bought 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 $6,486,422.80. This trade represents a 3.42 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 82,270 shares of company stock worth $235,312 in the last ninety days. 21.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research note on Friday, February 21st. KeyCorp started coverage on Talkspace in a research note on Monday, December 9th. They set an “overweight” rating and a $4.50 price objective on the stock. 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 target price for the company. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $4.38.

Talkspace Trading Up 2.5 %

Shares of Talkspace stock opened at $2.87 on Tuesday. The stock has a market capitalization of $483.41 million, a price-to-earnings ratio of 287.29 and a beta of 1.15. Talkspace, Inc. has a twelve month low of $1.60 and a twelve month high of $4.36. The business’s 50 day simple moving average is $3.18 and its 200-day simple moving average is $2.97.

Talkspace (NASDAQ:TALK) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $49.94 million. Sell-side analysts predict that Talkspace, Inc. will post 0.08 earnings per share for the current year.

About Talkspace

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.