JPMorgan Chase & Co. Sells 208,741 Shares of Talkspace, Inc. $TALK

Key Points

• JPMorgan cut its stake in Talkspace by 52.2% in Q3, selling 208,741 shares and leaving it with 191,312 shares (about 0.12% of the company) worth roughly $528,000.
• Analysts have largely moved to the middle ground—one Buy versus eight Holds—giving a consensus rating of "Hold" and a consensus price target of $5.56, after several recent downgrades and target trims.
• Talkspace shares opened at $5.18 with a market cap of $865.47M and a P/E of 103.62; the company slightly beat Q4 estimates (EPS $0.03 vs $0.02; revenue $63.0M vs $61.91M) and trades in a 1-year range of $2.22–$5.20.

JPMorgan Chase & Co. reduced its stake in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 52.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 191,312 shares of the company's stock after selling 208,741 shares during the quarter. JPMorgan Chase & Co. owned about 0.12% of Talkspace worth $528,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. CIBC Bancorp USA Inc. bought a new position in Talkspace in the 3rd quarter valued at about $42,000. Verition Fund Management LLC increased its holdings in shares of Talkspace by 48.1% during the third quarter. Verition Fund Management LLC now owns 205,498 shares of the company's stock worth $567,000 after purchasing an additional 66,771 shares during the period. Polymer Capital Management US LLC bought a new position in shares of Talkspace during the third quarter worth approximately $113,000. Brevan Howard Capital Management LP bought a new position in shares of Talkspace during the third quarter worth approximately $100,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Talkspace during the third quarter worth approximately $78,000. 57.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TALK shares. Wall Street Zen cut shares of Talkspace from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 8th. KeyCorp cut shares of Talkspace from an "overweight" rating to a "hold" rating in a report on Tuesday, March 10th. UBS Group reaffirmed a "buy" rating on shares of Talkspace in a report on Tuesday, December 30th. Barclays lowered their target price on shares of Talkspace from $5.50 to $5.25 and set an "equal weight" rating on the stock in a report on Monday, March 9th. Finally, Needham & Company LLC cut shares of Talkspace from a "buy" rating to a "hold" rating in a report on Monday, March 9th. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.56.

Talkspace Price Performance

Shares of NASDAQ:TALK opened at $5.18 on Tuesday. The company's 50 day simple moving average is $4.76 and its 200 day simple moving average is $3.85. The stock has a market capitalization of $865.47 million, a price-to-earnings ratio of 103.62 and a beta of 1.14. Talkspace, Inc. has a 1 year low of $2.22 and a 1 year high of $5.20.

Talkspace (NASDAQ:TALK - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. The business had revenue of $63.00 million for the quarter, compared to analysts' expectations of $61.91 million. Talkspace had a net margin of 3.40% and a return on equity of 6.89%. As a group, analysts anticipate that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Talkspace Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.