Talkspace, Inc. $TALK Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. has reduced its stake in Talkspace, Inc. by 8.1%, now holding 6,449,958 shares valued at approximately $16.5 million.
• Institutional investors collectively own 57.37% of Talkspace's stock, with firms like MetLife and Two Sigma significantly increasing their positions in recent quarters.
• Following a recent earnings report, Talkspace's stock maintains an average rating of "Buy," with a price target of $4.50 despite missing earnings expectations.

American Century Companies Inc. decreased its position in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,449,958 shares of the company's stock after selling 565,602 shares during the period. American Century Companies Inc. owned approximately 3.83% of Talkspace worth $16,512,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in shares of Talkspace by 27.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 50,177 shares of the company's stock worth $156,000 after acquiring an additional 10,849 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in Talkspace in the 1st quarter worth approximately $29,000. ProShare Advisors LLC raised its position in shares of Talkspace by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 34,622 shares of the company's stock valued at $107,000 after buying an additional 11,392 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Talkspace by 48.5% during the 4th quarter. Legal & General Group Plc now owns 36,146 shares of the company's stock valued at $112,000 after purchasing an additional 11,809 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in Talkspace in the 4th quarter worth $53,000. Institutional investors and hedge funds own 57.37% of the company's stock.

Insider Activity at Talkspace

In other news, CMO Katelyn Watson sold 39,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $3.30, for a total transaction of $128,700.00. Following the sale, the chief marketing officer owned 433,997 shares of the company's stock, valued at $1,432,190.10. This trade represents a 8.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.50% of the stock is owned by insiders.

Talkspace Stock Performance

Shares of NASDAQ TALK remained flat at $2.66 during mid-day trading on Friday. 746,019 shares of the stock were exchanged, compared to its average volume of 1,634,976. Talkspace, Inc. has a 12-month low of $1.75 and a 12-month high of $4.36. The stock's 50 day moving average price is $2.60 and its 200-day moving average price is $2.84. The firm has a market cap of $445.47 million, a PE ratio of 133.07 and a beta of 1.06.

Talkspace (NASDAQ:TALK - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.01 by ($0.01). The firm had revenue of $54.31 million for the quarter, compared to analysts' expectations of $54.08 million. Talkspace had a net margin of 1.41% and a return on equity of 2.48%. Talkspace has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Talkspace, Inc. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a "hold" rating on shares of Talkspace in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $4.50.

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.