Punch & Associates Investment Management Inc. Takes $2.33 Million Position in Talkspace, Inc. $TALK

Punch & Associates Investment Management Inc. purchased a new stake in Talkspace, Inc. (NASDAQ:TALK) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 449,630 shares of the company’s stock, valued at approximately $2,327,000. Punch & Associates Investment Management Inc. owned about 0.27% of Talkspace at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TALK. Vanguard Group Inc. increased its stake in Talkspace by 5.4% during the third quarter. Vanguard Group Inc. now owns 9,453,000 shares of the company’s stock worth $26,090,000 after acquiring an additional 483,012 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Talkspace by 14.6% in the 4th quarter. Deutsche Bank AG now owns 7,094,525 shares of the company’s stock valued at $25,753,000 after purchasing an additional 905,304 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Talkspace by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,413,825 shares of the company’s stock valued at $12,395,000 after purchasing an additional 15,436 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Talkspace by 38.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,060,055 shares of the company’s stock worth $15,836,000 after purchasing an additional 855,015 shares during the period. Finally, Royce & Associates LP boosted its holdings in shares of Talkspace by 39.7% in the 4th quarter. Royce & Associates LP now owns 3,036,360 shares of the company’s stock worth $11,022,000 after purchasing an additional 862,098 shares during the period. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Insider Activity

In other Talkspace news, insider John Charles Reilly sold 55,144 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $5.21, for a total transaction of $287,300.24. Following the completion of the transaction, the insider owned 1,057,975 shares in the company, valued at $5,512,049.75. The trade was a 4.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.50% of the stock is owned by company insiders.

Talkspace Stock Performance

TALK stock opened at $5.21 on Friday. Talkspace, Inc. has a 12 month low of $2.22 and a 12 month high of $5.25. The company has a 50-day moving average price of $5.21 and a 200 day moving average price of $4.86. The stock has a market cap of $872.73 million, a PE ratio of 521.52 and a beta of 1.07.

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

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Talkspace currently has a consensus rating of “Hold” and a consensus target price of $5.56.

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.