427,450 Shares in Talkspace, Inc. $TALK Bought by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Talkspace, Inc. (NASDAQ:TALK) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 427,450 shares of the company’s stock, valued at approximately $2,212,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mak Capital One LLC acquired a new position in shares of Talkspace during the 4th quarter worth about $8,042,000. Stoic Point Capital Management LLC bought a new stake in Talkspace during the 4th quarter valued at approximately $7,554,000. Metavasi Capital LP grew its holdings in Talkspace by 77.3% in the 4th quarter. Metavasi Capital LP now owns 2,704,577 shares of the company’s stock valued at $9,818,000 after buying an additional 1,179,156 shares during the last quarter. Deutsche Bank AG grew its holdings in 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 buying an additional 905,304 shares during the last quarter. Finally, Royce & Associates LP increased its position in 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 buying an additional 862,098 shares during the period. 57.37% of the stock is owned by institutional investors and hedge funds.

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 equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company 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 40,289 shares of Talkspace stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $5.20, for a total transaction of $209,502.80. Following the sale, the insider owned 1,017,686 shares of the company’s stock, valued at approximately $5,291,967.20. This trade represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.50% of the company’s stock.

Talkspace Stock Performance

Shares of TALK opened at $5.21 on Friday. The company has a 50-day simple moving average of $5.21 and a 200-day simple moving average of $4.86. Talkspace, Inc. has a 52 week low of $2.22 and a 52 week high of $5.25. The firm has a market capitalization of $872.74 million, a P/E ratio of 521.52 and a beta of 1.07.

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