ABC Arbitrage SA Takes Position in Talkspace, Inc. $TALK

ABC Arbitrage SA acquired a new stake in Talkspace, Inc. (NASDAQ:TALK) in the 1st quarter, Holdings Channel reports. The fund acquired 388,144 shares of the company’s stock, valued at approximately $2,009,000.

A number of other institutional investors also recently bought and sold shares of TALK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Talkspace by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after purchasing an additional 3,924 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Talkspace by 25.8% in the third quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock worth $54,000 after buying an additional 4,000 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Talkspace by 11.9% during the fourth quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock worth $180,000 after buying an additional 5,277 shares during the period. Invesco Ltd. lifted its stake in shares of Talkspace by 10.1% during the fourth quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock worth $319,000 after buying an additional 8,015 shares during the period. Finally, Granite Investment Partners LLC grew its holdings in shares of Talkspace by 61.1% during the first quarter. Granite Investment Partners LLC now owns 23,027 shares of the company’s stock valued at $119,000 after buying an additional 8,733 shares during the last quarter. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Talkspace has an average rating of “Hold” and an average target price of $5.56.

Insider Buying and Selling at Talkspace

In other news, insider John Charles Reilly sold 55,144 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $5.21, for a total transaction of $287,300.24. Following the sale, the insider directly owned 1,057,975 shares of the company’s stock, valued at $5,512,049.75. This represents a 4.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 23.50% of the company’s stock.

Talkspace Price Performance

TALK opened at $5.23 on Tuesday. The firm has a fifty day moving average price of $5.20 and a 200 day moving average price of $4.77. Talkspace, Inc. has a 1 year low of $2.22 and a 1 year high of $5.25. The stock has a market cap of $876.08 million, a P/E ratio of 523.52 and a beta of 1.07.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The firm had revenue of $61.68 million for the quarter, compared to analysts’ expectations of $63.32 million. Talkspace had a return on equity of 1.03% and a net margin of 0.49%. Equities analysts expect that Talkspace, Inc. will post 0.13 EPS for the current year.

About Talkspace

Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.