NVP Associates LLC Has $25.10 Million Position in Talkspace, Inc. (NASDAQ:TALK)

Key Points

• NVP Associates LLC decreased its position in Talkspace, Inc. by 33.3%, holding about 9.8 million shares, making Talkspace its second largest investment.
• Other institutional investors, such as Vanguard Group and Deutsche Bank AG, have increased their stakes in Talkspace by 6.5% and 10.6% respectively in the first quarter.
• Talkspace's stock is currently rated as a "Buy" by analysts, with an average target price of $4.50, despite recently missing earnings estimates.

NVP Associates LLC cut its holdings in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 33.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,802,972 shares of the company's stock after selling 4,900,000 shares during the quarter. Talkspace comprises 22.4% of NVP Associates LLC's portfolio, making the stock its 2nd largest position. NVP Associates LLC owned approximately 5.82% of Talkspace worth $25,096,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in Talkspace by 27.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 50,177 shares of the company's stock worth $156,000 after purchasing an additional 10,849 shares during the period. Financial Management Professionals Inc. acquired a new stake in Talkspace in the first quarter worth $29,000. ProShare Advisors LLC raised its holdings in Talkspace by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 34,622 shares of the company's stock worth $107,000 after purchasing an additional 11,392 shares during the period. Legal & General Group Plc raised its holdings in Talkspace by 48.5% in the fourth quarter. Legal & General Group Plc now owns 36,146 shares of the company's stock worth $112,000 after purchasing an additional 11,809 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in Talkspace in the fourth quarter worth $53,000. 57.37% of the stock is owned by institutional investors.

Talkspace Stock Up 1.6%

Shares of NASDAQ:TALK traded up $0.04 during midday trading on Tuesday, reaching $2.50. 1,510,676 shares of the company were exchanged, compared to its average volume of 1,788,493. Talkspace, Inc. has a fifty-two week low of $1.63 and a fifty-two week high of $4.36. The stock has a fifty day simple moving average of $2.69 and a two-hundred day simple moving average of $2.92. The firm has a market cap of $418.68 million, a PE ratio of 125.06 and a beta of 1.06.

Talkspace (NASDAQ:TALK - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.01). Talkspace had a net margin of 1.41% and a return on equity of 2.48%. The business had revenue of $54.31 million during the quarter, compared to analyst estimates of $54.08 million. As a group, analysts forecast that Talkspace, Inc. will post 0.08 earnings per share for the current year.

Insider Transactions at Talkspace

In other Talkspace news, CMO Katelyn Watson sold 39,000 shares of Talkspace stock in a transaction on Friday, June 6th. The shares were sold at an average price of $3.30, for a total value of $128,700.00. Following the sale, the chief marketing officer directly owned 433,997 shares in the company, valued at approximately $1,432,190.10. The trade was a 8.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a "hold" rating on shares of Talkspace in a report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $4.50.

Talkspace Company Profile

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.