Talkspace, Inc. (NASDAQ:TALK) Shares Sold by NVP Associates LLC

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 stake in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 33.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,802,972 shares of the company's stock after selling 4,900,000 shares during the period. Talkspace makes up approximately 22.4% of NVP Associates LLC's holdings, making the stock its 2nd biggest position. NVP Associates LLC owned 5.82% of Talkspace worth $25,096,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TALK. Vanguard Group Inc. boosted its holdings in Talkspace by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 7,180,787 shares of the company's stock valued at $22,189,000 after purchasing an additional 315,741 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Talkspace by 87.3% during the 4th quarter. JPMorgan Chase & Co. now owns 987,220 shares of the company's stock worth $3,051,000 after acquiring an additional 460,248 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Talkspace by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company's stock worth $9,512,000 after acquiring an additional 63,072 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Talkspace by 51.3% during the 4th quarter. Wells Fargo & Company MN now owns 58,432 shares of the company's stock worth $181,000 after acquiring an additional 19,817 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Talkspace by 94,091.2% during the 4th quarter. Russell Investments Group Ltd. now owns 129,042 shares of the company's stock worth $399,000 after acquiring an additional 128,905 shares during the period. 57.37% of the stock is owned by institutional investors.

Talkspace Trading Down 1.7%

TALK stock traded down $0.05 during trading on Thursday, hitting $2.54. 634,139 shares of the stock traded hands, compared to its average volume of 1,900,547. Talkspace, Inc. has a one year low of $1.67 and a one year high of $4.36. The stock has a market cap of $424.54 million, a price-to-earnings ratio of 126.81 and a beta of 1.06. The company has a 50 day simple moving average of $2.68 and a 200 day simple moving average of $2.92.

Talkspace (NASDAQ:TALK - Get Free Report) last announced 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 firm had revenue of $54.31 million for the quarter, compared to the consensus estimate of $54.08 million. As a group, analysts predict that Talkspace, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reaffirmed a "hold" rating on shares of Talkspace in a 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. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $4.50.

Insider Transactions at Talkspace

In other Talkspace news, CMO Katelyn Watson sold 39,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $3.30, for a total value of $128,700.00. Following the completion of the sale, the chief marketing officer owned 433,997 shares in the company, valued at approximately $1,432,190.10. This trade represents a 8.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.50% of the stock is owned by corporate insiders.

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.