529,410 Shares in Talkspace, Inc. $TALK Acquired by Gabelli Funds LLC

Gabelli Funds LLC bought a new position in shares of Talkspace, Inc. (NASDAQ:TALK) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 529,410 shares of the company’s stock, valued at approximately $2,740,000. Gabelli Funds LLC owned about 0.32% of Talkspace at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TALK. Harbor Capital Advisors Inc. acquired a new stake in shares of Talkspace during the fourth quarter worth $450,000. Occam Crest Management LP increased its position in shares of Talkspace by 77.7% in the 4th quarter. Occam Crest Management LP now owns 1,830,000 shares of the company’s stock valued at $6,643,000 after acquiring an additional 800,000 shares during the period. Capula Management Ltd acquired a new position in shares of Talkspace in the 1st quarter valued at $2,588,000. ABC Arbitrage SA purchased a new position in Talkspace in the 1st quarter worth $2,009,000. Finally, Hsbc Holdings PLC purchased a new position in Talkspace in the 1st quarter worth $1,703,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Wall Street Analyst Weigh In

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

Talkspace Trading Down 0.2%

TALK opened at $5.21 on Wednesday. Talkspace, Inc. has a 12-month low of $2.22 and a 12-month high of $5.25. The firm has a market capitalization of $872.73 million, a PE ratio of 521.52 and a beta of 1.07. The firm has a 50 day moving average of $5.21 and a two-hundred day moving average of $4.89.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06). The business had revenue of $61.68 million for the quarter, compared to analyst estimates of $63.32 million. Talkspace had a net margin of 0.49% and a return on equity of 1.03%. As a group, analysts predict that Talkspace, Inc. will post 0.13 EPS for the current fiscal year.

Insider Activity

In other Talkspace news, insider John Charles Reilly sold 55,144 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $5.21, for a total value of $287,300.24. Following the sale, the insider directly owned 1,057,975 shares of the company’s stock, valued at approximately $5,512,049.75. This represents a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.50% of the stock is currently owned by company insiders.

Talkspace Company Profile

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.