ABC Arbitrage SA Invests $2.01 Million in Talkspace, Inc. $TALK

Key Points

• ABC Arbitrage SA initiated a new position in Talkspace during the first quarter, buying 388,144 shares valued at about $2.01 million.
• Other institutional investors have also been active in the stock, and 57.37% of Talkspace shares are now held by institutions.
• Talkspace reported Q1 earnings of -$0.04 per share, missing expectations, while analysts currently rate the stock a Hold with a consensus price target of $5.56.

ABC Arbitrage SA bought a new stake in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 388,144 shares of the company's stock, valued at approximately $2,009,000. ABC Arbitrage SA owned about 0.23% of Talkspace as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Mak Capital One LLC purchased a new stake in shares of Talkspace in the fourth quarter valued at $8,042,000. Stoic Point Capital Management LLC bought a new position in Talkspace during the 4th quarter valued at about $7,554,000. Metavasi Capital LP raised its position in Talkspace by 77.3% in the 4th quarter. Metavasi Capital LP now owns 2,704,577 shares of the company's stock worth $9,818,000 after purchasing an additional 1,179,156 shares during the period. Deutsche Bank AG lifted its stake in Talkspace by 14.6% in the fourth quarter. Deutsche Bank AG now owns 7,094,525 shares of the company's stock worth $25,753,000 after purchasing an additional 905,304 shares during the last quarter. Finally, Royce & Associates LP boosted its position in shares of Talkspace by 39.7% during the fourth quarter. Royce & Associates LP now owns 3,036,360 shares of the company's stock valued at $11,022,000 after buying an additional 862,098 shares during the period. 57.37% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider John Charles Reilly sold 55,144 shares of the stock in a transaction 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 sale, the insider owned 1,057,975 shares in the company, valued at approximately $5,512,049.75. This represents a 4.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 23.50% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Talkspace from a "hold (c)" rating to a "sell (d+)" rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $5.56.

Talkspace Price Performance

Shares of Talkspace stock opened at $5.23 on Tuesday. The firm's 50-day moving average is $5.20 and its two-hundred day moving average is $4.77. Talkspace, Inc. has a 1 year low of $2.22 and a 1 year high of $5.25. The stock has a market cap of $876.08 million, a price-to-earnings ratio of 523.52 and a beta of 1.07.

Talkspace (NASDAQ:TALK - Get Free Report) last released its quarterly 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 net margin of 0.49% and a return on equity of 1.03%. The firm had revenue of $61.68 million during the quarter, compared to the consensus estimate of $63.32 million. On average, equities analysts expect 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.

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