American Century Companies Inc. Reduces Stake in Talkspace, Inc. (NASDAQ:TALK)

American Century Companies Inc. trimmed its holdings in shares of Talkspace, Inc. (NASDAQ:TALK) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,015,560 shares of the company’s stock after selling 235,462 shares during the quarter. American Century Companies Inc.’s holdings in Talkspace were worth $21,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TALK. Cibc World Markets Corp purchased a new position in Talkspace during the fourth quarter valued at $36,000. Belvedere Trading LLC purchased a new position in shares of Talkspace during the 4th quarter valued at about $37,000. Intech Investment Management LLC purchased a new stake in Talkspace in the 3rd quarter worth approximately $56,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Talkspace during the 4th quarter worth approximately $69,000. Finally, MetLife Investment Management LLC raised its position in shares of Talkspace by 27.1% during the 3rd quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock valued at $86,000 after purchasing an additional 8,764 shares during the period. 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 acquired 75,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was bought at an average price of $2.86 per share, with a total value of $214,500.00. Following the completion of the acquisition, the chief executive officer now owns 2,267,980 shares of the company’s stock, valued at approximately $6,486,422.80. This represents a 3.42 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders bought a total of 82,270 shares of company stock worth $235,312 in the last three months. Company insiders own 21.70% of the company’s stock.

Talkspace Stock Performance

Shares of TALK opened at $2.63 on Monday. The stock has a 50-day moving average of $3.16 and a two-hundred day moving average of $3.00. The stock has a market cap of $442.99 million, a P/E ratio of 263.26 and a beta of 1.15. Talkspace, Inc. has a one year low of $1.60 and a one year high of $4.36.

Talkspace (NASDAQ:TALK) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. The business had revenue of $48.72 million during the quarter, compared to analyst estimates of $49.94 million. Analysts predict that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TALK has been the topic of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a report on Friday, February 21st. Mizuho started coverage on shares of Talkspace in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price target on the stock. Finally, KeyCorp assumed coverage on shares of Talkspace in a research note on Monday, December 9th. They issued an “overweight” rating and a $4.50 target price on the stock. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $4.38.

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.