Polar Asset Management Partners Inc. Purchases Shares of 3,002,132 Talkspace, Inc. $TALK

Key Points

• Polar Asset Management acquired 3,002,132 Talkspace shares worth approximately $15.5 million, representing a 1.79% stake. Institutional investors and hedge funds collectively own 57.37% of the company.
• Talkspace insiders own 23.50% of the stock; insider John Charles Reilly sold 55,144 shares for about $287,300 to cover tax withholding obligations tied to vested equity awards.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $5.56. Talkspace recently missed quarterly earnings and revenue estimates, reporting a loss of $0.04 per share on $61.68 million in revenue.

Polar Asset Management Partners Inc. purchased a new stake in Talkspace, Inc. (NASDAQ:TALK - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,002,132 shares of the company's stock, valued at approximately $15,536,000. Polar Asset Management Partners Inc. owned 1.79% of Talkspace as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Cerity Partners LLC purchased a new position in shares of Talkspace during the 2nd quarter worth approximately $28,000. Dynamic Technology Lab Private Ltd purchased a new stake in Talkspace in the third quarter valued at approximately $35,000. Neuberger Berman Group LLC acquired a new position in Talkspace during the fourth quarter worth $38,000. Engineers Gate Manager LP acquired a new position in Talkspace during the second quarter worth $39,000. Finally, Vise Technologies Inc. acquired a new stake in shares of Talkspace in the fourth quarter valued at $40,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Talkspace

In other Talkspace news, insider John Charles Reilly sold 55,144 shares of the business's stock in a transaction on Friday, June 12th. The shares were 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 $5,512,049.75. The trade was a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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 issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $5.56.

Talkspace Stock Performance

NASDAQ TALK opened at $5.21 on Monday. The firm has a 50 day simple moving average of $5.21 and a 200-day simple moving average of $4.87. Talkspace, Inc. has a one year low of $2.22 and a one year high of $5.25. The firm has a market cap 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 announced its quarterly earnings data 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). The business 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 analysts predict that Talkspace, Inc. will post 0.13 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.

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