Talkspace, Inc. (NASDAQ:TALK) Shares Acquired by Clearline Capital LP

Clearline Capital LP lifted its position in Talkspace, Inc. (NASDAQ:TALK) by 28.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,248,756 shares of the company’s stock after purchasing an additional 273,994 shares during the quarter. Clearline Capital LP’s holdings in Talkspace were worth $2,610,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new stake in Talkspace in the third quarter valued at approximately $33,000. Principal Financial Group Inc. purchased a new stake in Talkspace in the 2nd quarter valued at $38,000. Creative Planning boosted its stake in Talkspace by 30.6% during the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after purchasing an additional 6,179 shares during the period. Intech Investment Management LLC purchased a new position in Talkspace during the 3rd quarter worth $56,000. Finally, Virtu Financial LLC acquired a new position in Talkspace in the first quarter valued at $74,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Insider Activity

In other news, CFO Ian Jiro Harris purchased 23,100 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average price of $2.11 per share, for a total transaction of $48,741.00. Following the acquisition, the chief financial officer now directly owns 397,657 shares in the company, valued at approximately $839,056.27. The trade was a 6.17 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 21.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Barclays increased their price objective on Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Northland Capmk raised Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. Finally, Northland Securities assumed coverage on Talkspace in a report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price target for the company. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

Talkspace Trading Down 1.4 %

Shares of TALK stock opened at $3.42 on Monday. The stock has a 50 day simple moving average of $2.83 and a 200-day simple moving average of $2.39. The company has a market cap of $577.72 million, a price-to-earnings ratio of -342.00 and a beta of 1.11. Talkspace, Inc. has a 12-month low of $1.60 and a 12-month high of $3.92.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $47.40 million during the quarter, compared to the consensus estimate of $47.50 million. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. During the same quarter last year, the firm posted ($0.03) EPS. On average, equities analysts forecast that Talkspace, Inc. will post -0.02 earnings per share for the current fiscal 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.