Maven Securities LTD Sells 108,685 Shares of Talkspace, Inc. $TALK

Maven Securities LTD lessened its stake in Talkspace, Inc. (NASDAQ:TALK) by 59.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,615 shares of the company’s stock after selling 108,685 shares during the quarter. Maven Securities LTD’s holdings in Talkspace were worth $378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Polar Asset Management Partners Inc. bought a new position in Talkspace in the 1st quarter valued at about $15,536,000. Mak Capital One LLC bought a new stake in shares of Talkspace during the 4th quarter worth approximately $8,042,000. Stoic Point Capital Management LLC bought a new stake in shares of Talkspace during the 4th quarter worth approximately $7,554,000. Metavasi Capital LP boosted its position in shares of Talkspace by 77.3% during the 4th quarter. Metavasi Capital LP now owns 2,704,577 shares of the company’s stock worth $9,818,000 after acquiring an additional 1,179,156 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Talkspace by 14.6% during the 4th quarter. Deutsche Bank AG now owns 7,094,525 shares of the company’s stock worth $25,753,000 after acquiring an additional 905,304 shares in the last quarter. Institutional investors own 57.37% of the company’s stock.

Insider Buying and Selling

In other Talkspace news, insider John Reilly sold 55,144 shares of the firm’s stock in a transaction that occurred 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 owned 1,057,975 shares in the company, valued at $5,512,049.75. This trade represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Talkspace in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Talkspace presently has an average rating of “Hold” and an average price target of $5.56.

Talkspace Price Performance

Shares of NASDAQ TALK opened at $5.25 on Wednesday. Talkspace, Inc. has a 12 month low of $2.49 and a 12 month high of $5.25. The stock has a 50-day moving average price of $5.23 and a two-hundred day moving average price of $5.16.

Talkspace (NASDAQ:TALK) last posted its earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Talkspace had a return on equity of 0.17% and a net margin of 0.08%.The company had revenue of $61.67 million during the quarter, compared to the consensus estimate of $67.99 million. Equities analysts forecast that Talkspace, Inc. will post 0.14 earnings per share for the current fiscal 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.