Quinn Opportunity Partners LLC Sells 75,717 Shares of Talkspace, Inc. (NASDAQ:TALK)

Quinn Opportunity Partners LLC reduced its position in Talkspace, Inc. (NASDAQ:TALK) by 24.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 240,000 shares of the company’s stock after selling 75,717 shares during the period. Quinn Opportunity Partners LLC’s holdings in Talkspace were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Talkspace by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 7,180,787 shares of the company’s stock valued at $22,189,000 after buying an additional 315,741 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Talkspace by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company’s stock valued at $9,512,000 after acquiring an additional 63,072 shares during the period. State Street Corp increased its stake in shares of Talkspace by 36.4% in the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock worth $4,549,000 after purchasing an additional 580,826 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Talkspace in the 4th quarter worth $3,371,000. Finally, JPMorgan Chase & Co. raised its holdings in Talkspace by 87.3% in the 4th quarter. JPMorgan Chase & Co. now owns 987,220 shares of the company’s stock worth $3,051,000 after purchasing an additional 460,248 shares during the period. Institutional investors own 57.37% of the company’s stock.

Talkspace Stock Up 2.2 %

NASDAQ:TALK opened at $2.78 on Friday. The business’s 50-day simple moving average is $3.05 and its two-hundred day simple moving average is $3.04. Talkspace, Inc. has a 52 week low of $1.60 and a 52 week high of $4.36. The stock has a market cap of $468.25 million, a PE ratio of 278.28 and a beta of 1.16.

Talkspace (NASDAQ:TALK) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. The firm had revenue of $48.72 million for the quarter, compared to analysts’ expectations of $49.94 million. Sell-side analysts anticipate that Talkspace, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

TALK has been the subject of several recent research reports. Canaccord Genuity Group assumed coverage on Talkspace in a report on Thursday, April 3rd. They set a “buy” rating and a $5.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $4.50.

Insider Buying and Selling at Talkspace

In other news, CEO Jon R. Cohen purchased 75,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $2.86 per share, for a total transaction of $214,500.00. Following the acquisition, the chief executive officer now directly owns 2,267,980 shares of the company’s stock, valued at $6,486,422.80. This represents a 3.42 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have purchased 82,270 shares of company stock worth $235,312. Insiders own 21.70% of the company’s stock.

About Talkspace

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.