Arrowstreet Capital Limited Partnership Raises Holdings in Talkspace, Inc. $TALK

Key Points

• Arrowstreet Capital increased its Talkspace stake by 38.8% in the first quarter, adding 855,015 shares to own 3.06 million shares, or 1.83% of the company. Institutional investors and hedge funds collectively hold 57.37% of Talkspace.
• Talkspace reported a quarterly loss of $0.04 per share, missing the $0.02 analyst estimate, while revenue of $61.68 million fell short of the $63.32 million forecast.
• Analyst sentiment remains cautious: Weiss Ratings downgraded the stock to “sell,” while the broader analyst consensus is “hold” with a $5.56 price target. Talkspace shares opened at $5.21, near their 52-week high of $5.25.

Arrowstreet Capital Limited Partnership lifted its position in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) by 38.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,060,055 shares of the company's stock after purchasing an additional 855,015 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.83% of Talkspace worth $15,836,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TALK. Capula Management Ltd acquired a new stake in Talkspace during the 1st quarter worth $2,588,000. Sei Investments Co. purchased a new position in shares of Talkspace during the 1st quarter worth approximately $106,000. Dimensional Fund Advisors LP grew its stake in shares of Talkspace by 12.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,711,641 shares of the company's stock valued at $14,033,000 after buying an additional 295,984 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Talkspace by 4.1% during the first quarter. Bank of New York Mellon Corp now owns 364,490 shares of the company's stock worth $1,886,000 after purchasing an additional 14,303 shares during the period. Finally, IMC Chicago LLC acquired a new stake in Talkspace during the 1st quarter worth approximately $104,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Talkspace

In other Talkspace 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 value of $287,300.24. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.

Talkspace Stock Performance

Shares of TALK opened at $5.21 on Friday. The firm has a 50-day simple moving average of $5.21 and a 200-day simple moving average of $4.90. Talkspace, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $5.25. The company has a market capitalization of $872.73 million, a price-to-earnings ratio of 521.52 and a beta of 1.07.

Talkspace (NASDAQ:TALK - Get Free Report) last released its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.06). The company had revenue of $61.68 million during the quarter, compared to analyst estimates of $63.32 million. Talkspace had a net margin of 0.49% and a return on equity of 1.03%. Equities research analysts forecast that Talkspace, Inc. will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

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

Talkspace Profile

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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