Sugar Maple Asset Management LLC Takes $33,000 Position in Talkspace, Inc. (NASDAQ:TALK)

Sugar Maple Asset Management LLC bought a new position in shares of Talkspace, Inc. (NASDAQ:TALK) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,000 shares of the company’s stock, valued at approximately $33,000.

A number of other institutional investors have also added to or reduced their stakes in TALK. Royce & Associates LP bought a new stake in shares of Talkspace in the 3rd quarter worth approximately $1,045,000. Dimensional Fund Advisors LP bought a new stake in shares of Talkspace during the second quarter valued at approximately $921,000. Divisadero Street Capital Management LP raised its stake in shares of Talkspace by 13.2% in the second quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock valued at $7,157,000 after purchasing an additional 361,717 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Talkspace by 2,480.3% in the second quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock worth $814,000 after purchasing an additional 340,030 shares during the period. Finally, Rhumbline Advisers boosted its stake in Talkspace by 2,357.6% during the second quarter. Rhumbline Advisers now owns 135,215 shares of the company’s stock worth $311,000 after buying an additional 129,713 shares in the last quarter. 57.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TALK has been the subject of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Barclays upped their target price on shares of Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th.

Insider Buying and Selling at Talkspace

In other news, CFO Ian Jiro Harris acquired 23,100 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $2.11 per share, with a total value of $48,741.00. Following the completion of the acquisition, the chief financial officer now owns 397,657 shares in the company, valued at approximately $839,056.27. This represents a 6.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 21.70% of the company’s stock.

Talkspace Stock Down 4.1 %

Shares of TALK stock opened at $3.04 on Friday. The stock’s fifty day simple moving average is $2.56 and its 200 day simple moving average is $2.37. Talkspace, Inc. has a one year low of $1.60 and a one year high of $3.92.

Talkspace (NASDAQ:TALK) last issued its earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. The company had revenue of $47.40 million for the quarter, compared to the consensus estimate of $47.50 million. During the same quarter in the previous year, the company earned ($0.03) EPS. Equities research analysts expect that Talkspace, Inc. will post -0.03 EPS 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.