Royce & Associates LP Lowers Stock Position in Talkspace, Inc. (NASDAQ:TALK)

Key Points

• Royce & Associates LP has reduced its holdings in Talkspace, Inc. by 50.4%, now owning approximately 346,773 shares valued at $888,000.
• Talkspace's stock experienced a slight increase of 1.6%, with a current price of $2.56, amidst mixed ratings from analysts, including several "buy" ratings.
• The company has a market capitalization of $428.33 million and institutional investors collectively own 57.37% of its stock.

Royce & Associates LP lowered its stake in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 50.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 346,773 shares of the company's stock after selling 351,949 shares during the quarter. Royce & Associates LP owned about 0.21% of Talkspace worth $888,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TALK. Deutsche Bank AG lifted its position in Talkspace by 103.1% in the fourth quarter. Deutsche Bank AG now owns 4,615,485 shares of the company's stock valued at $14,262,000 after buying an additional 2,342,913 shares during the last quarter. Voss Capital LP acquired a new position in Talkspace in the fourth quarter valued at about $3,981,000. Arrowstreet Capital Limited Partnership acquired a new position in Talkspace in the fourth quarter valued at about $3,371,000. Balyasny Asset Management L.P. acquired a new position in Talkspace in the fourth quarter valued at about $3,179,000. Finally, Metavasi Capital LP acquired a new position in Talkspace in the fourth quarter valued at about $2,295,000. Institutional investors and hedge funds own 57.37% of the company's stock.

Talkspace Trading Down 3.5%

NASDAQ:TALK traded down $0.09 during mid-day trading on Friday, hitting $2.35. The stock had a trading volume of 691,775 shares, compared to its average volume of 1,889,494. The stock has a 50-day simple moving average of $2.80 and a two-hundred day simple moving average of $2.96. The company has a market capitalization of $392.35 million, a PE ratio of 118.31 and a beta of 1.07. Talkspace, Inc. has a twelve month low of $1.60 and a twelve month high of $4.36.

Insiders Place Their Bets

In other Talkspace 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 approximately $1,432,190.10. This trade represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 23.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Canaccord Genuity Group assumed coverage on shares of Talkspace in a research report on Thursday, April 3rd. They issued a "buy" rating and a $5.00 target price on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Talkspace in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price 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.